Little Falls board adopts 2024 budget, projects general-fund deficit

Chris presented the district's proposed 2024 budget to the Little Falls Public School District board on June 26 and highlighted enrollment declines and revenue assumptions.

Chris said enrollment has declined by about 162 students compared with fiscal year 2019, and that the district's general-fund revenues for fiscal 2024 are projected at about $33,304,253 while expenditures are projected at about $33,866,000, "which leaves us with a deficit of 561,754 dollars in the general fund," he said. He told the board the basic formula allowance for fiscal year 24 will be $7,138 (a reported 4% increase) and estimated the district's general-fund generation at roughly $18 million from pupil counts after weighting.

Chris also noted projected unassigned fund-balance declines: from 7.41% (June 30, 2022) to a projected 2.78% (June 30, 2024). He described an operating deficit across all funds of about $1,105,771.

After the presentation the board moved, seconded and approved the budget "as presented" by voice vote. Board members did not provide a detailed roll-call tally in the transcript for that vote.

Board members and administrators said they will monitor enrollment and financial results and revisit the revised budget in December as needed. The budget packet includes detailed pages on revenue sources (state aid is the largest share), food service, debt service, federal-relief balances, and capital/maintenance planning.