The District No. 2904 School Board on Monday heard feedback on the FY 25 audit and Truth-in-Taxation reports.
The district received a “clean opinion” on the audit. Its net position increased $320,021 from the prior year to $5,774,570, primarily due to the increase in state aids and favorable differences between actual and expected investment earnings and liability experience for both the Teacher Retirement Association and the Public Employees Retirement Association as it related to pensions.
The district’s General Fund balance increased $841,134 to $6,121,416. The unassigned fund balance went up $499,802 to $4,028,173, primary due to an increase in state aid, offset by a transfer to the community service fund to cover deficit operations.
As of June 30, 2025, the district incurred costs of $23,445,511 for the two-year infrastructure project for the two school buildings. The total cost of the project is expected to be about $25.7 million; the project was funded by referendum support and the issuance of General Obligation Facilities Maintenance Bonds, Series 2022A and 2023A.
It was noted that the district’s future enrollment projections reflect a decrease through the 2027-28 school year.
In 2024-25, total revenues for the district were $2,083,044 and total expenditures were $1,956,869 — the result was a fun balance decrease of $7124,175. The increase is due to tax revenues, earnings from investments and state credits exceeding required debt service payments.
The Debt Service Fund balance on June 30, 2025, was $298,208. The Building Construction Fund balance as of June 30, 2025, was $4,664,092.
The school board on Monday also certified the Maximum MDE Levy Limitation and Certification 2025 Payable 2026 report of $3,721,556.39, a decrease of $86,947.77, or -2.28%.
In other business Monday …
• Two refrigerate from the FACS Room were declared surplus.
• The board accepted the resignation of ADSIS teacher Suanne Christensen.
• The board approved the hiring of Elissa Wieneke as assistant wrestling coach.
• The board accepted the following donations: $500 (anonymous) for Secret Santa; $560 (anonymous) for the elementary school; $560 (anonymous) for the high school); $560 (anonymous) for the FFA; $20 (anonymous) for a TAHS scholarship); $500 from Lake Sarah Lutheran Church to help needy families); and $608 from the Chester Johnson Trust for a new Balaton Little Panthers sign.
