International Falls board adopts LTFM plan after facilities update; presale report outlines $2.525 million bond target

The International Falls School Board adopted the district's fiscal 2027—28 long-term facilities maintenance (LTFM) plan on July 20 and received an informational presale report detailing an expected facilities bond issuance to complete indoor air-quality and roofing projects.

Jen from Ehlers, the district's finance adviser, told the board the presale anticipates a par amount near $2,525,000, a decline from the board's prior not-to-exceed authorization of $2.7 million. Jen said the bonds would carry a roughly 16-year amortization, with principal scheduled from 2029 through 2043, and that the district will participate in the state credit enhancement program (which provides the state's AAA rating to this issuance). Key milestones she listed: administrative calls the week of Aug. 3; a preliminary official statement to market on Aug. 6; underwriter proposals evaluated and a sale-day presentation on Aug. 17; and an expected closing and availability of proceeds on Sept. 10.

"This is really to wrap up your financing for your big building project and now this is for indoor air quality and roofing projects," Jen said during the presentation.

Lauren, a consultant from Cecil presenting the district's 10-year LTFM plan, reviewed statutory requirements and deadlines and recommended the board approve the plan so staff can submit required documents to the Minnesota Department of Education. She noted that the plan's expense schedules use UFARS finance codes and that some line items appear as zeros because LTFM eligibility is narrowly defined.

Board members asked questions about multi-year forecasting and about whether deferred projects not covered in the current construction round would be included in future years. Lauren said the plan is updated annually and that large components, such as air-handling units and roofing, can be scheduled in later years as needs become clearer.

During the construction update, district administration reported that renovations at Falls High School and Falls Elementary are progressing but that contractors have uncovered areas requiring additional work, including asbestos abatement in some locations. The district said it will use contingency funds and LTFM resources to cover abatement and related repairs and that it expects to share a detailed update from contractors in the coming week.

Superintendent Beth clarified that the district's solar-panel project is separate from the referendum-funded construction. She said the panels are grant funded, are slated to be installed by mid-August behind Falls High School and Falls Elementary, will be fenced for safety and are intended also as a teaching asset for science and STEAM programming.

The board voted to adopt the LTFM plan at the meeting. Lauren indicated the plan and related assurances will be submitted to the commissioner as required before levy certification.

Next steps noted by presenters include follow-up calls between administration and Ehlers in early August, distribution of the preliminary official statement to the market, and the Aug. 17 sale-day presentation that will return to the board for formal sale approval.

What happened next: The board adopted the LTFM resolution and later passed routine personnel and governance items, including a superintendent employment agreement and a first-grade position request (see the "Votes at a glance" summary).