School Board – ISD #831

DESCRIPTION OF PROPOSED SCHOOL CONSTRUCTION PROJECT

Forest Lake Area Schools, ISD #831 is proposing a two question referendum on November 7, 2017. The first ballot question would revoke the existing operating referendum revenue authorization of $461.67 per pupil and replace it with a $1,211.67 per pupil authorization for a ten year period. The second ballot question would authorize $9 million in bonding authority to finance athletic field / facility upgrades and improvements for performing arts.

The projects would be scheduled for completion in calendar year 2019. Cost estimates by location / project type are as follows:

Though enrollment is expected to decline over the next several years and the school districts unreserved, general fund balance has declined over the last few years, the proposed projects are not expected to materially impact the districts financial position.

If the bond referendum is successful and bonds are sold, the debt service on the bonds will be eligible for debt service equalization under Minn. Stat. 123B.53, Subd. 3, if the bond schedule is approved. The amount of debt service equalization aid, if any, the district receives is determined annually and is dependent upon property wealth, student population, and other statutory requirements.

REVIEW AND COMMENT STATEMENT

Based upon the departments analysis of the school districts required documentation and other pertinent information from sources of the Minnesota Department of Education, the Commissioner of Education provides a positive review and comment.

ADDITIONAL INFORMATION IS AVAILABLE

Persons desiring additional information regarding this proposal should contact the school district superintendents office.

September 20, 2017

Dr. Brenda Cassellius

Commissioner

Published in the

Forest Lake Times

September 28, 2017

737158

http://forestlaketimes.com/wp-content/uploads/sites/36/2017/09/737158-1.pdf

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