The board’s decision to approve the bond referendum aims to address pressing facility needs and enhance safety across all district sites without imposing additional tax burdens on property owners, thanks to the expiration of existing bond levies. The bond will support essential renovations and safety upgrades, alleviating financial pressures on the general fund previously allocated for facility repairs. This strategic financial move received detailed explanation from a representative who underscored the necessity of the bond to prevent unmet repair needs and potential future bond considerations.

Board members were informed that failure to approve the bond referendum could result in inadequate facility maintenance, which could impact the quality of education. The bond’s financial structure, crafted with the assistance of legal and financial advisors, ensures regulatory compliance, and the board’s approval follows a review process, including a motion to call an election and approve review documents for submission to the Department of Education.

In tandem with the bond referendum, the board discussed the operational needs of the district, highlighting the recommendation for an operating referendum set at $424 per pupil unit, translating to approximately $11.65 million annually over the next decade. This operating levy is critical to preventing substantial budget cuts anticipated to commence in the FY 26 budget cycle. The potential tax implications for homeowners were delineated, projecting a moderate increase based on home valuations.

The superintendent presented a communication strategy to engage the community effectively about the referendums, emphasizing the district’s role in disseminating factual information rather than advocating for specific outcomes. The strategy includes press releases, fact sheets, a presentation slide deck, and potential professional videos to ensure consistent messaging. Outreach efforts will also extend to families outside the school boundaries whose children attend Fridley Public Schools to maintain transparency and inclusivity.

During the meeting, the board also delved into the fiscal year 2024-2025 budget, developed through collaboration among district leaders and the finance department. The budget presentation utilized a new format to enhance clarity, providing context alongside financial figures. Key highlights included district class size targets, a summary of school finance, and an overview of funding history from the state. Although optimism was expressed regarding legislative actions tying the basic formula allowance to inflation, concerns about the inflationary gap persisted.

Enrollment trends were a focal point, with projections indicating a continued decline. The budget discussion also addressed the food service fund and community service fund, noting improvements under a three-year plan despite a history of negative balances. The overall fund balance is expected to decrease by approximately $8.6 million due to reductions in the general fund, a scenario partially mitigated by the bond referendum’s support for facility needs.

The board’s discussion highlighted the breakdown of revenue and expenditures, with state funding accounting for 78% of revenue and local taxes contributing 16%. Expenditures primarily cover salaries and benefits, constituting over 74% of total spending, with remaining funds directed toward operational costs such as transportation and facility support.

After thorough deliberation, the board unanimously approved the fiscal year 2024-2025 budget. A subsequent motion to adopt policy 797 concerning post-issuance debt compliance also passed without opposition.