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Gilmanton board eyes $475,000 recurring referendum, renews $650,000 short‑term loan
Summary
Board members discussed a proposed recurring $475,000 referendum to fund a bus replacement, a science room roof and flooring, reviewed a WIPFLI auditors' report with no major issues, and voted to renew a $650,000 tax‑and‑revenue anticipation note for 2026.
The Gilmanton School District Board of Education on Dec. 18 continued preliminary planning for a possible recurring $475,000 referendum to fund capital needs including a school bus replacement, science‑room roof repairs, and flooring updates. The board directed further financial analysis with Baird and said it will finalize a referendum resolution at the regular January meeting.
During the administration report, Kory Rud said the Baird financial model had been updated to include the cost of one bus and that a $475,000 recurring levy appeared to balance district needs with taxpayer impact. The board did not take a formal referendum vote at the meeting; members asked staff and Baird to complete further analysis ahead of the Jan. 19, 2026 meeting when the resolution is expected to be finalized.
The board also renewed a short‑term tax‑and‑revenue anticipation promissory note for $650,000 with Alliance Bank to provide operating cash flow for 2026; the motion to renew the note was made by Tammi Olson and seconded by Lance Peterson and carried 5‑0. The board reviewed the 2024–25 independent auditors' report prepared by WIPFLI, LLC, and the summary presented identified no major areas of concern.
The board received an informational update on special‑education reimbursement levels: while the state budget pledged to cover 42% of special‑education costs, the Department of Public Instruction indicated funds are currently available for roughly 35% of those costs. The update warned the gap may continue to reduce district revenue pending further legislative action.
Next steps: the administration will complete further financial modeling with Baird and return a finalized referendum resolution for board consideration at the Jan. 19, 2026 regular meeting, scheduled for 5:15 p.m.
