Fridley Public Schools — Transcript
Tuesday, April 15, 2025
Spring Activities Recap
Referendum Proposal and Approval
FY24-25 Budget Presentation and Approval
Policy 797 Adoption: Post Issuance Debt Compliance
Votes (4)
Resolution Calling for an Election on Increasing General Education Revenue and Issuing School Building Bonds
Moved by Meisner [17:09] · Seconded by Anna [17:18]
The board considered and approved a resolution to hold a referendum election in November 2024. This election would include two questions: an operating levy of $424 per pupil unit for financial stability, and a $30 million bond for safety, security, and facility renovations across all district sites. The bond question was highlighted as having no additional tax impact due to strategic debt management. The superintendent emphasized the district's role in providing factual information to the community regarding the referendum.
Approval of Review and Comment Documents for Bond Projects
Moved by Stark [17:39] · Seconded by Jones [17:41]
Following the approval of the referendum resolution, the board moved to approve the necessary Review and Comment documents. These documents are a mandatory submission to the Department of Education for bond projects, ensuring compliance and transparency in the planning of facility improvements.
Approval of the Fiscal Year 2024-2025 Budget
Moved by Stark [25:19] · Seconded by Anna [25:21]
The Finance Department presented the FY24-25 budget, noting a projected deficit in the general fund, which underscores the importance of the proposed operating referendum. The presentation detailed revenue sources, expenditure allocations, and strategies to improve the negative fund balance in the Community Service fund and address significant needs in the Long-Term Facilities Maintenance (LTFM) fund, with Superintendent Lewis highlighting how bond funds could free up instructional money currently used for repairs.
Adoption of Policy 797: Post Issuance Debt Compliance
Moved by Stark [25:40] · Seconded by Anna [25:42]
The board deliberated on and adopted Policy 797, focusing on the district's commitment to post-issuance debt compliance. This policy ensures that the district's financial practices align with legal and regulatory requirements for its outstanding debt, promoting accountability and sound financial management.
Notable Quotes (5)
Our role is really about the facts behind what the referendum pieces are and it's also about empowering people to vote.
Funding levels have lagged behind inflation as well as the overall cost to educate each student. This has forced individual communities to authorize additional funding through operating Levies to cover this gap.
The second question would not have a tax impact for property owners and this is really because of the way we have structured the district has structured their debt in partnership with our our financial advisers and around a bond Levy.
We are anticipating to be deficit spending in the general fund for FY 25... This continues to reinforce the need for an operating referendum this fall.
$2 million is a lot of instructional money that we could repurpose.
Ordinances & Resolutions (4)
Official resolution to initiate the referendum election process for both the operating levy and bond.
Required documents to be submitted to and approved by the Department of Education for bond projects.
The proposed and approved budget for the fiscal year 2024-2025 for Fridley Public Schools.
Policy concerning post-issuance debt compliance for the school district.