Pequot Lakes School District: Board sets new year budget parameters
In its Monday, March 18, meeting, the Pequot Lakes School Board voted unanimously to charge Superintendent Chris Lindholm and Business Manager Heidi Hagen with parameters for the fiscal year 2020 budget.
The district is expected to end the current fiscal year with an unrestricted fund balance of $2,809,171, or 16 percent of its operating budget. Assuming an increase of 1.5 percent to the general education aid formula, it is projected to have a general fund revenue amount of $18,456,791. That total increases to $18,529,801 if the general education aid increases by 2 percent.
With this information in mind, the board voted to have administration strive for balanced revenue and expenditure budgets in fiscal year 2020, and end the year with an unrestricted fund balance of 15-17 percent of general fund annual expenditures.
In other action, the board:
• Accepted a proposal from Aercor Wireless for E-rate Category 2 services involving technology, totalling $132,123.60.
• Accepted 10 donations to the district totalling $7,478.19.
• Recognized 27 donations made to the district's student activity fund account worth a total of $14,203.
In his report to the board, Lindholm indicated that board members can expect to have more discussions on the topic of building new ball fields within the city in an upcoming board work session, either in April or May.