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District reviews Long Term Facilities Maintenance revenue plan; 10-year plan to be submitted to state by July 31
Summary
Executive Director of Finance Ra Chhoth reviewed the district's Long Term Facilities Maintenance (LTFM) revenue plan, noting the district must submit a Board-approved 10-year facilities maintenance plan to the Minnesota Department of Education by July 31 each year to qualify for funding.
Ra Chhoth presented the annual Long Term Facilities Maintenance (LTFM) revenue plan and explained that LTFM replaced the former Health and Safety and Deferred Maintenance programs as of the 2015 legislative session. The materials say the district must submit a Board-approved 10-year facilities maintenance plan to the Minnesota Department of Education by July 31 each year to qualify for LTFM revenue, and Mr. Chhoth reviewed the revenue calculation and estimated funding projections covering the next ten years.
The work session recording and notes do not record a formal board vote on the plan in the text provided; Mr. Chhoth framed the discussion as a review of projected revenue and the related 10-year expenditure plan. Any formal approval required for submission to the Minnesota Department of Education would be reflected in official board minutes or a subsequent action item if taken.
