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Board adopts 10‑year long‑term facilities maintenance plan required by state
Summary
The board adopted the Kenyon‑Wanamingo 10‑year LTFM plan required by the state, carrying over prior year cost years and noting the district can bond against up to 60% when the time comes; roll call approval recorded 6–0.
Staff presented the district’s 10‑year Long‑Term Facility Maintenance (LTFM) plan, noting the spreadsheets are required by the state and that this year’s submission carried forward many numbers with adjustments verified by SiteLogic. The presenter said the plan cannot be used to add new items for beautification but to replace like‑for‑like, and reminded the board of bonding limitations tied to the LTFM program.
The resolution adopting the LTFM plan was moved and seconded and approved on roll call. Staff noted one practical point: the district will receive only a portion of potential revenue under the program (the presenter stated “we actually only get 90,000 of our potential revenue”), and that a bond against the LTFM would affect revenue capture. The board recorded the adoption as required under Minnesota statute for the district’s fiscal year filing.
Board members asked timing questions about when the bond against the fund would add (staff responded 2034/2033 in discussion), and the board approved the plan on unanimous roll call.
