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District feels positive about budget

Randy Bergquist

A projected budget for the 2018-19 school year was approved by the Osakis School Board at a 6:30 a.m. Wednesday special meeting. A budget revision will be considered in early 2019, if necessary.

Superintendent Randy Bergquist presented the budget summary with comparisons for the past three years, and invited comments from Theresa Moore, district bookkeeper.

"The grand total revenue projected for 2018-19 is a 'guestimate' based on student numbers," Moore told the board. "The projected revenue is $10,388,187, and the projected total expenditures is $10,449,595."

"We were projecting a fairly large deficit for fiscal year 2018," Moore said, "but so far at the end of June, revenue is actually higher than we projected. So far it does look like it is a little more positive than what we projected."

Bergquist agreed. "We are feeling positive about this budget." He referred to Principal Shad Schmidt, who reported that 10 new children have already been registered for fall, and five of them were as a direct of advertising done this spring.

Moore pointed out upon a question from board member Tom Grundman that the expenses are down for 2018-19 in the secondary department because there is no Chromebook project this coming year.

It was also noted that the staff changes are built into the new budget, along with negotiations and adjustments for the food service Budget.

Budget summary

Revenues for the 2018-19 budget are predicted to be $10,296,674, which is down $3,011 compared to the current budget year. Grand total revenues including School Store and OPEB Fund 45&47 are estimated at $10,388,187, down $7,660 from the current year.

Local revenue is projected to be $765,156, which is down $77,723. State revenue is projected to be $7,732,194, which is up $152,657; federal funds are projected at $170,119, down $69,881 for this current budget.

Grand total expenditures are projected to be $10,449,595, which is down $20,780. This includes an increase in elementary and Title I expenditures of $63,127, to the expenditure of $3,473,017.

Total fund balance at the end of the year is projected at $3,906,200, down $293,203 from the present year.

2018-19 budget summary

REVENUES 2018-19 2017-18 adjusted

General Fund, Local $765,156 $842,879

Gen. Fund State $7,732,194 $7,579,537

Gen. Fund Federal $170,119 $240,000

Total Gen. Fund $8,667,469 $8,662,416

Food Service $366,400 $363,900

Community Service $184,219 $197,050

Debt Redemption $1,078,586 $1,076,319

Total Revenue $10,296,674 $10,299,685

School Store $10,000 $10,000

OPEB Fund 45&46 $81,513 $86,162

Grand Total Revenue $10,388,187 $10,395,847

EXPENDITURES

Gen. Fund District $1,905,270 $1,945,162

Gen. Fund Elem & Title I $3,473,017 $3,466,794

Gen. Fund Secondary $3,241,080 $3,498,061

Total Gen. Fund $8,619,367 $8,910,017

Food Service $375,005 $397,833

Community Ed. $238,927 $254,595

Debt Redemption $1,085,033 $1,084,483

Total Expenditures $10,318,332 $10,646,928

School Store $10,000 $10,000

OPEB Bonds Fund 45 $37,083 $34,250

OPEB Bonds Fund 47 $84,180 $85,630

Grand Total Expenditures $10,449,595 $10,776,808

FUND BALANCES

General Fund $3,826,678 $3,778,576

Food Service $51,126 $59,731

Community Ed. ($135,430) ($190,138)

Debt Redemption $163,826 $170,273

Total Fund Balance $3,906,200 $3,818,442

The 2018-19 budget had to be approved by the School Board by June 30, and sent to the state.

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