A very preliminary budget for next year was approved by the Osakis School Board at its Monday, June 10 regular meeting.
The anticipated revenue of $10,398,015, does not include the 2 percent increase in state aids approved by the Minnesota Legislature in its 2019 session.
Local taxes will bring $894,806; state aid $8,136,377, and federal aid $240,119.
Superintendent Randy Bergquist told the board the proposed budget includes $90,000 for one new bus.
The budget also includes all the capital expenditures that were approved by the School Board at its May regular meeting, totaling $294,500. Expenditures for technology previously approved, including Chromebooks and iPads, was also included.
It does not include any projections for salary negotiations, which will begin in July.
The final 2019-2020 budget will be adjusted after the 2 percent increase in aids is received.
Bergquist pointed out to the board that the Osakis School District has a fund balance of $4,615,997, which is 44 percent, "Which is awesome," he said.
This preliminary budget stands at a $79,000 deficit at this point, because the 2 percent expected revenue was not included.
Anticipated grand total revenue includes revenue from Food Service, Community Service and Debt Redemption totaling $10,385,515. School Store revenue is projected at $10,000 and OPEB Fund 45&47 is expected to be $2,500.
Grand total revenues in the 2018-19 budget were $10,388,187.
Projected expenditures include $9,255,804 in the General Fund; $10,430,387 in Community Ed., debt redemption and Food Service.
Grand total expenditures for the 2019-2020 budget are $10,477,470.
Total fund balances are projected at $4,615,997.