Public Meeting Minutes: January 27, 2020 at 7:00 PM - Loup City Public Schools Board of Education Work Session

Call Meeting To Order:

Pledge of Allegiance

Announce Open Meetings Act - Posted in Meeting Room

Publication of Meeting

Discussion: Scott Friesen and Eric Kowalski saw the public notice.

Approval of Agenda:

Action(s):

Motion Carried:

Motion by Loraine Panowicz, seconded by Ron Mroczek, approve the agenda as presented. Motion Carried

No Action(s) have been added to this Agenda Item.

Discussion Topics

Goal Setting for 2020

School Finance Workshop

Discussion:

The goal of this is to provide information to the board about Loup City finances, state aid formula, expense projections, budget planning process, facilities projects and planning.
State income tax rebate went from 20% to 2%, our $25,000 is mostly income tax rebate, not equalization aid
Maintenance of Effort, initially ws 80% reimbursement, 50% of costs are returned to the school district. IDEA is federal money so you have to meet MOE or you don't get reimbursed.
TEEOSA, Tax Equity and Education Opportunities Support Act, calculation set in law. Formula Needs minus Formula Resources=Equalization Aid
Statewide Aid had a drop aid in 2011-12 after ARRA aid ended and is just now back up to that level
Cash Balance should be 3 months bills on August 31st.
Depreciation Fund is necessary to replace capitol improvement.
Building fund is being taxed for the last 2 years to 1.5 cents
The process looks at 18-19 budget numbers, estimates of 19-20 numbers, and projections of 20-21

Future Meetings/Reminders:

Adjourn:

Action(s):

Motion Carried:

Motion by Ron Mroczek, seconded by Tami Heil, to adjourn at 9:44. Motion Carried

No Action(s) have been added to this Agenda Item.

January 27, 2020 at 7:00 PM - Loup City Public Schools Board of Education Work Session