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12/19/2012

THE FAIRMONT SCHOOL BOARD APPROVED THE 2012 PAYABLE 2013 TAX LEVY ON TUESDAY NIGHT. SCHOOL DISTRICT FINANCE DIRECTOR SUE NELSON PRESENTED DETAILS BEHIND THE OPERING LEVY WHICH WAS VOTER APPROVED LAST MONTH. THE LEVY AMOUNT OF 900 DOLLARS PER STUDENT WILL INCREASE THE LEVY AMOUNT 786,000 DOLLARS FOR THE COMING YEAR. THE NEW LEVY AMOUNT WILL BE 5.468 MILLION AN INCREASSE FROM THE 4.682 MILLION THIS YEAR. THE LEVY AMOUNT WILL BE PROVIED TO THE STATE. ACTUAL TAX IMPACT ON PROPERTY OWNERS IN THE DISTRICT WILL BE DETERMINED BY THE STATE AND THE MARTIN COUNTY AUDITOR -TREASURERS OFFICE.

FAIRMONT AREA SCHOOL SUPT. JOE BROWN UPDATED THE BOARD ON THE SCHOOL DISTRICTS FUND BALANCE. HE NOTED THE DISTRICTS UNASSIGNED FUND BALANCE EXCEEDED LAST YEARS AMOUNT BY OVER 381 THOUSAND DOLLARS. AUDITORS RECOMMEND A ONE TO TWO MONTH RESERVE IN THE UNASSIGNED FUND IN CASE OF CASH FLOW AND OTHER EMERGENCIES. MR BROWN SAID THE FUND BALANCE INCREASE WAS DUE TO UNDERSPENDING IN OTHER AREAS SPECIAL EDUCATION,UTILITIES AND SNOW REMOVAL BECAUSE OF LAST YEAR'S MILD WEATHER,HEALTH INSURANCE SAVINGS AND Q-COMP SAVINGS. MR BROWN CAUTIONED THOUGH THAT ASSIGNED FUND BALANCES WILL INCREASE THIS YEAR AND EAT UP THOSE SAVINGS PLUS THE ANNUAL INFLATION THAT AFFECTS THE SCHOOL DISTRICT BUDGET EVERY YEAR.

MR. BROWN WAS APPRECIATIVE TO THE RESIDENTS OF THE SCHOOL DISTRICT WHO PASSED THE LEARNING LEVY IN THE RECENT ELECTION FOR HELPING THE DISTRICT AVOID THEIR OWN FISCAL CLIFF.

SUPT. BROWN SAYS THE DISTRICT WOULD HAVE TO CONTINUE TO BE BE DILIGENT, CAUTIOUS AND CONSERVATIVE IN BUDGET DECISIONS GOING FORWARD.



ROD HALVORSEN
© 2010 KSUM.


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