Pequot Lakes School: Board discusses levy at work session
The Pequot Lakes School Board used its scheduled work session Monday, Nov. 6, to discuss the district's financial planning and 2018 levy.
The board approved a preliminary levy in September, setting a maximum local option revenue of $424 per pupil. The district currently operates with an LOR of $325 per pupil.
When the board approves its final levy at its December meeting, it cannot exceed the $424 per pupil total. It can, however, reduce the local option revenue if the board deems it necessary.
The district brought in Todd Netske, owner of SchoolFinances.com, to work with new district business manager Heidi Hagen in constructing the school's budget for the coming year.
The two showed the board five-year projections for the district - using both the current LOR and the preliminarily approved LOR - based on enrollment projections and other factors.
"(We are) far better to anticipate 'less than' funding, and have the pleasant surprise (of higher funding) than to budget for more than we end up with ..." board member Valarie Wallin said. "Maybe we'll see people move in. Maybe we will get a big business that draws a lot of people in. Those are all unknowns."
The board will approve its final levy Monday, Dec. 18, and will conduct its truth in taxation meeting for residents to ask questions about the budget and levy immediately before the regular meeting.