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Board approves 202627 budget and long-term facilities maintenance adjustments
Summary
The Forest Lake Public School District board approved the 202627 budget and a long-term facilities maintenance (LTFM) plan; administrators explained a revenue/expenditure timing mismatch tied to LTFM levy timing and bond spending that creates a one-year appearance of deficit but is supported by restricted fund balances.
The Forest Lake Public School District board on June 25 approved the 202627 budget and a long-term facilities maintenance (LTFM) plan after hearing a detailed explanation from Director Chrissy Remberg.
Remberg told the board the fiscal picture shows revenue below expenditures primarily because of how LTFM levy dollars and bond funds align over time: the district became a 1A/all-facilities district and had to hold levy dollars rather than spend them immediately, creating a timing adjustment that will reverse in FY27 when the LTFM adjustment comes through. "Our revenue is under our expenditures because that is due to the adjustment in revenue because they're taking cap," Remberg said, explaining the projected fund-balance movement and the districts ability to support work from restricted funds.
She outlined upcoming summer projects (roofing at the maintenance building and HVAC and window/flooring work at Forest View), said community-ed programming and construction funds remain healthy, and noted the district may evaluate bond issuance timing with its municipal advisors. Board members asked clarifying questions about assigned vs. unassigned fund balances and thanked Remberg for clear explanations.
The board approved the LTFM plan and the 202627 budget by roll-call votes; minutes recorded the ayes and the chair announced the motions carried.
