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Board approves spring budget revision; finance director reports modest revenue increases and timing-related expenditure changes
Summary
The district’s spring budget revision increased revenue estimates by roughly $115,000 and showed a net decrease in expenditures of about $221,007 due to timing shifts; the unassigned fund balance was reported at $3,035,202 and long-term facility maintenance costs will be covered by future levies.
The board approved a spring budget revision and received a financial update from district finance staff (Angie).
Angie said updated revenue estimates increased by just under $115,000—driven by updated MDE aid figures, grant adjustments (+$54,800) and miscellaneous local revenue (+~$44,000). On the expenditure side, timing changes in capital and curriculum purchases produced a net decrease of roughly $221,006.67, she said, though some capital projects (for example, the pool indoor-air-quality project) increased and are expected to be reimbursed through future levies. Angie reported the unassigned fund balance at $3,035,202 and described adjustments across several funds; she said the district would reobligate underspent project budgets into the next fiscal year.
Angie also noted legislative developments: Big Lake’s compensatory aid position remained stable and the legislature placed a constitutional amendment about a permanent school fund on November’s ballot that could provide incremental revenue for districts if approved. The board voted to approve the financial report and budget revisions.
