The Osakis School Board amended its current year budget at the Monday, Feb. 11 regular meeting, putting $300,000 in additional revenue to good use for the district.
District Bookkeeper Theresa Moore told the School Board the original budget was based on an estimated enrollment of 800 students, but the actual enrollment was much more than that. She re-ran the budget numbers based on the new enrollment figure of 843, which resulted in $300,000 in additional revenue.
"We had been projecting a loss of $75,000," Moore said, but with the new numbers there is a net gain of $150,000.
Among the budget categories that were adjusted were:
Professional Services, originally $16,500, adjusted by $30,000 to $46,500 for Ingensa invoice;
Media Center general supplies, originally $2,625, adjusted by $50,000 to $52,625. This $50,000 was a gift from First National Bank for media remodel;
Equipment, Bobcat 5600, originally $810, adjusted by $49,000 to $49,810;
Elementary textbooks, from zero to $10,000;
ECSE Salary, no longer purchased from RAED, from zero to $52,200;
ECSE SpEd Salary purchased from $86,000 adjusted by -$84,500, to $1,500 RAED salary;
Exec. Salaries RAED, from $40,365, adjusted by $9,635 to $50,000;
High School Textbooks, from zero to $12,000;
Food Service expenses, $375,005 to be reclassified to various food service expenditures;
Bond refunding, from zero to $5,670,000 refunding;
Other Debt, from $900, adjusted by $73,937 to $74,837 for fees related to bond refinancing;
Sale of Bonds from zero to -$5,721,036;
Athletic Equipment, from zero to $14,980, including hand railings for high school bleachers, and sideline benches.
Funds moved to First National Bank
The Osakis School Board voted to move $1 million from its funds held in the Minnesota Liquid Asset fund back to Osakis to the First National Bank (FNB).
Justin Dahlheimer, representing FNB, told the board moving the funds back to Osakis would make it possible for the local bank to continue to be a great patron of the school district and the community.
The bank supports the Osakis community by donations, volunteer time, leadership, influence, access to resources, and loans.
The bank has made $70,000 in donations in 2018 to local entities, including the schools, civic projects, memorials and community events. The average bank employee volunteers 94 hours a year to the community. Total volunteer hours is 1,225.
Supt. Randy Bergquist recommended moving the funds to FNB, as well as district bookkeeper, Theresa Moore.