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I'll call the meeting to order. Our
first item is the pledge of allegiance.

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I aliance to the flag of the United
States of America and to the republic

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for which it stands. One nation under
God, indivisible. Liberty and justice.

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» Sarah, can you read our mission
statement?

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» The mission of the Marshall Public
School District is to educate, support,

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and prepare all learners for success.
>> Thank you.

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First item is approval of the agenda.
>> Motion to approve.

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» Second.
>> Thank you. A motion by Jeff and a second

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by Sarah Ranchie to approve the agenda.
Any additions or corrections?

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Hearing none, [clears throat] I'll call
for the vote.

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The agenda is approved.
Next item is the public form. Is there

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anybody from the public want to approach
the board?

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Seeing none,
move on to item number six, our

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presentation, our audit review.
Welcome Tamara.

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» Hello. and Lyanna.
[laughter]

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» I'm just here
>> support.

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» Yes,
my support person

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side of the clipper.
>> One of these

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is on.

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» There's an on and off switch on the
side.

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» Ah, maybe that's it's off. probably
doesn't help.

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Oh, buzz.
>> Okay.

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» The top. Okay, sounds good.
>> When I don't do it right the first three

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times. [laughter]
All right. So, my name is Tamara Dice.

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I'm with Hoffman and Broes and I'm here
to present the audit report for Marshall

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Public Schools for the year ended June
30th, 2025. The district received an

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unmodified opinion or a clean opinion
for the June 30th 25 audit report. Um,

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we do have a single audit as well and
that will be wrapping up here. Um, the

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OM was part of the government shutdown
and they didn't release their single

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audit compliance guide in time. Um, and
so those are delayed and the state knows

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that. So, we'll have a separate single
audit piece of it at some point.

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Normally, they'd been released at the
same time. So, this year we just add a

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little extra fun.

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the top this one.
Sorry.

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There we go. Thank you.
All right. To start out, we'll take a

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look at some of the financial highlights
for fiscal year 2025.

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As the district completed the year, its
governmental funds, which are your

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general food service, community service,
building construction, and debt service

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funds, those reported an increase of
approximately 986,000

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in their combined fund balance, bringing
the balance at year end to about 15.1

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million. That was mostly due to an
increase in the general fund, food

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service fund, and debt service fund,
partially offset by a small transfer out

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to close out the building construction
fund. Of that $986,000

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00:04:44,320 --> 00:04:52,639
increase, um about half of that was
contributed to by the debt service fund.

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00:04:50,639 --> 00:04:56,800
The general fund, excluding your
transportation and operating capital

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activities, that fund balance increased
about $212,000

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00:04:59,040 --> 00:05:08,240
to just over 8 million. That total fund
balance amounts to 19.7%

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00:05:05,120 --> 00:05:13,280
of your annual district expenditures,
which exceeds your district's fund

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balance goal of a minimum of 8%.
During the year the district completed

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and placed into service the renovation
of the middle school theater, the total

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cost of that project was about 657,000
and was funded through the general fund

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as part of the approved long-term
facility maintenance budget.

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The district entered into two
right-of-use lease arrangements during

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the fiscal year. One agreement was for
athletic space through the board of

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trustees of Minnesota State Colleges and
Universities on behalf of Southwest

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Minnesota State University and the other
was for educational space for the

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Marshall Alternative Learning Center via
a subleasase agreement with the

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Southwest West Central Service
Cooperative. the costs associated with

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those lease agreements was just over $3
million. Under um governmental

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00:06:01,840 --> 00:06:10,240
accounting for there's an asset and a
liability that needs to be booked with

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those leases. Um it's an in and out on
the fund statements, but um we need to

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book it at a present value. The district
entered into subscription-based

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information technology arrangements or
we refer to as sidas for IT software and

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electronic curriculum. The cost
associated with those was approximately

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$169,000.
Um a similar present value calculation

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is used for lease that's used for leases
is also used for cvidas. So that's where

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those numbers come from.

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During the year, the district also
implemented Gazsby statement number 101

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for compensated absences. What this
standard does is it establishes new

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criteria for accounting and financial
reporting for compensated absence

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liabilities. beginning governmental
activities net position was restated

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00:07:02,560 --> 00:07:12,080
from uh just over 21 million to 16.3
million which is a decrease of about 4.8

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million. This standard requires things
like uh PTO vacation or sick time that

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can be rolled over to the next year to
be recorded as a liability on the

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governmentwide statements. um which is
the front statements, not things that

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not the statements that you would
normally use for decision-m uh but

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previously the only thing that was
recorded is any time off that um was

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paid on termination. So just a little
bit of a change there. The district um

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we want to congratulate you as well for
being recognized with a certificate of

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00:07:42,240 --> 00:07:49,280
excellence in financial reporting for
fiscal year 2024.

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The voters failed to approve the
proposed $2 million operating levy on

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November 4th.
[snorts] And then looking ahead at the

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district's future, uh in the 2023
legislative session, the legislature

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00:08:01,919 --> 00:08:13,039
approved a foundation formula increase
of they said between basically 2 to 3%

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00:08:09,120 --> 00:08:17,919
um and it has been set now at 2.75% for
fiscal year 2026. that has a positive

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00:08:16,080 --> 00:08:23,199
effect for school district operations
and maintaining a balanced budget. This

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00:08:21,120 --> 00:08:27,759
increase means that even if you didn't
have any change in student numbers, you

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would receive an increase in your
general education aid. The legislature

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00:08:30,319 --> 00:08:38,479
also approved free breakfast and lunch
to all K through 12 students during that

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uh 23 legislative session and this is um
considered permanent right now. So the

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00:08:42,320 --> 00:08:48,720
district is in the process of renovating
the high school HVAC control system.

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Management has budgeted the to budgeted
the total cost of the project at

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approximately 737,850.
As of the end of the year, the district

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had incurred about 299,000
of direct costs relating to that

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project. The project is being paid for
by the general fund as part of the

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00:09:04,800 --> 00:09:12,080
approved long-term facility maintenance
budget and will be completed during

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00:09:08,640 --> 00:09:12,080
fiscal year 26.

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00:09:13,040 --> 00:09:18,880
And then this graph is showing a
projection of enrollment. So it's

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showing actual um enrollment for fiscal
year 24 and 25 and then projecting out

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00:09:22,080 --> 00:09:31,279
for 26 27 and 28 where those final
numbers will land. It's um as we can see

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00:09:29,120 --> 00:09:37,760
from the line it's future projections
are reflecting a decline in enrollment.

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The decrease from 25 to 26 um is based
on current fiscal year 26 enrollment

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specifically in early childhood through
first grade. Um and then I also wanted

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to point out 24 to 25 the decrease is
about 12 students. So the line looks

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pretty sharp but that's just based on
the measures I use for my axis. Um these

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numbers impact the district's funding
because um enrollment is what determines

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00:10:01,600 --> 00:10:08,160
most of the school district's funding
components. Maintaining enrollment

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stability and growing it continues to be
one of the district's goals.

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And from 24 to 28 that is about 98
students of a drop. So,

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okay, the following graphs that we're
going to take a look at are referencing

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the general fund excluding
transportation and operating capital.

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00:10:26,640 --> 00:10:35,920
So, if you're familiar with the smart
system, that's funds 1,0 and 21. Um,

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fund balance increased from 24 to 25 by
about 212,000 which was a function of

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revenues and other financing sources
being greater than expenditures and

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00:10:42,079 --> 00:10:50,079
other financing uses. the adjusted cash
balance increased along with fund

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balances. You're going to see um the
orange I didn't have these labeled. The

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orange is your ending fund balance and
then the teal color is the adjusted cash

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balance. And in each year there's going
to be a difference and that's just

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timing differences between accounts
payable and accounts receivable. So

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00:11:04,079 --> 00:11:10,240
accounts receivable we're going to see a
revenue or an increase in our fund

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00:11:08,640 --> 00:11:15,040
balance but we haven't got the cash for
that yet at the end of the year. So,

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some of those differences are why we see
those spreads. They aren't equal all the

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00:11:17,440 --> 00:11:20,440
time.

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00:11:23,120 --> 00:11:30,640
These two graphs show the general fund
revenues by sorus. Fiscal year 25 is on

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00:11:27,680 --> 00:11:34,160
the top and 24 is on the bottom. You can
see the largest source of revenue is

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from the state, which is the gray piece
of the pie. That's consistent with every

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00:11:37,200 --> 00:11:46,000
other district. Um, state revenue is the
biggest contributor into school

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00:11:43,600 --> 00:11:50,240
districts. Federal sources of revenue
are one of the smallest pieces, but they

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are the cause of the most compliance
requirements. The level of federal

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funding is what subjects the district to
a single audit requirement. If federal

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expenditures are over $750,000,
a single audit is required. For fiscal

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00:12:01,519 --> 00:12:08,880
year 26, that does go up to a million,
but that's not going to knock you guys

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00:12:05,440 --> 00:12:14,800
out of needing a single audit. So for
some of our districts it um may but here

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it won't. Uh Marshall Public Schools had
about $3 million in federal funding in

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fiscal year 25. So that would have to
drop [snorts] a lot which we don't want

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to. So uh federal revenue decreased
about 4% which is about a $1.3 million

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00:12:27,680 --> 00:12:35,680
decrease from fiscal year 24. Most of
that is decreased COVID 19 funding. So

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00:12:33,440 --> 00:12:42,399
that was all done and used up in fiscal
year 24 and didn't continue. And so that

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00:12:39,600 --> 00:12:48,200
decrease in the federal just shifted to
um kind of the state revenue when we

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00:12:44,320 --> 00:12:48,200
look at percentage wise.

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00:12:49,440 --> 00:12:55,519
This graph shows a 5-year history of
revenues by Sorus. Again you can see the

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00:12:53,680 --> 00:12:59,600
state funding which is in the teal is
the largest source of revenue. The

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00:12:57,760 --> 00:13:04,320
higher state funding amounts over the
years have been primarily due to an

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00:13:01,760 --> 00:13:09,839
increase in the basic education formula
along with an overall increase in

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00:13:06,079 --> 00:13:16,399
students throughout the years. In 2024,
you could see a larger jump in that

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00:13:11,760 --> 00:13:23,600
state aid. There was a 4% increase in 24
and historically and kind of now it was

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00:13:19,120 --> 00:13:29,120
about 2%. So that's that big jump there.
And then we also had more special

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00:13:25,360 --> 00:13:34,399
education aid. um in 25 along with that
increase in 21 through 24 you can see

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00:13:31,839 --> 00:13:39,680
the higher federal revenue in the brown
so the [clears throat] furthest bar on

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00:13:36,560 --> 00:13:46,600
the right and that is higher 22 through
24 coing ended in 24 [snorts] so now we

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00:13:42,639 --> 00:13:46,600
see that drop in 25

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00:13:47,040 --> 00:13:54,240
now moving on to expenditures these two
graphs show the last two years 25 on the

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00:13:51,680 --> 00:13:59,279
top and 24 on the bottom again the
largest expenditure to any school should

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00:13:56,880 --> 00:14:03,680
be salaries and benefits, the red and
the yellow. Um your job is to educate

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00:14:01,920 --> 00:14:10,880
students. You need the manpower to do
it. And so that's where we see um the

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00:14:06,959 --> 00:14:14,320
most expenditures happening.
As you can see, the expenditure

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00:14:12,560 --> 00:14:19,120
categories in the general fund have
remained similar relative to total

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00:14:16,639 --> 00:14:24,079
expenditures in the last two years. Your
slight increase in the equipment

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00:14:21,120 --> 00:14:30,079
category, it's up about 6%. So that's
equipment and capital outlay and that's

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00:14:27,440 --> 00:14:35,760
going to be those right of use leases
that we had for the spaces at SMSU.

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00:14:33,120 --> 00:14:40,360
That's just how um function of how we
need to book it. So that's the increase

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00:14:37,360 --> 00:14:40,360
there.

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00:14:40,985 --> 00:14:46,079
[clears throat]
And then the next slide, this graph

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00:14:44,000 --> 00:14:49,600
shows the 5-year history of expenditures
by object code. The expenditures have

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00:14:48,160 --> 00:14:54,399
remained consistent again
year-over-year. And as you can see, um,

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00:14:52,639 --> 00:14:59,120
the two biggest expenditures are your
wages in the orange and benefits in the

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00:14:56,160 --> 00:15:05,760
yellow. And those increase with added
either added positions, increases in

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00:15:01,199 --> 00:15:10,399
pay, things like that. In 2023, the
spike in your site buildings and

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00:15:07,920 --> 00:15:17,120
equipment. The green color is mostly due
to special education vehicles and a CTI,

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00:15:13,440 --> 00:15:23,360
the CTI construction costs. In 2022,
other expenditures which is um the brown

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00:15:20,639 --> 00:15:28,959
on the very right increased with the
implementation of Gazby 87 which was

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00:15:25,839 --> 00:15:34,160
that um the lease standard where now we
need to show rent payments just kind of

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00:15:30,959 --> 00:15:38,560
like a lease or a loan payment.
And then the increase in purchase

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00:15:36,320 --> 00:15:44,079
services in 2024.
The blue line, that increase is due to

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00:15:41,040 --> 00:15:49,199
CTI expenditures which it was using up
insurance proceeds. And our increase in

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00:15:46,560 --> 00:15:54,680
site buildings and equipment in 2025 is
from those right of use leases entered

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00:15:50,880 --> 00:15:54,680
into during the year.

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00:15:55,519 --> 00:16:03,279
If we look at expenditures at the areas
or the programs in which most of those

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00:16:00,720 --> 00:16:07,600
are attributable, the graph here would
depict that each program or category is

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00:16:05,759 --> 00:16:12,399
at the bottom and the colors represent
the last 5 years. Instructional costs,

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00:16:10,399 --> 00:16:16,079
which include regular education and
exceptional instruction, are and have

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00:16:14,560 --> 00:16:20,800
been the majority of the district's
expenditures, um, which we'd expect.

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00:16:18,639 --> 00:16:26,000
It's the cost to instruct those
students. in fiscal year 23. Again, here

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00:16:24,000 --> 00:16:32,800
we're going to see those site buildings
and equipment um jump up and that's for

185
00:16:29,759 --> 00:16:37,040
the CTI construction costs. Fiscal year
24, the costs are elevated to for the

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00:16:35,279 --> 00:16:44,199
repair of the CTI building that was
covered by insurance proceeds. And now

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00:16:38,880 --> 00:16:44,199
in 25 is those rate of use leases.

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00:16:46,720 --> 00:16:52,160
Looking at the general fund budget to
actual,

189
00:16:50,160 --> 00:16:56,079
uh these tables are showing that general
fund excluding transportation and

190
00:16:53,759 --> 00:17:00,079
operating capital like our other graphs
have been. The overall change in fund

191
00:16:58,240 --> 00:17:05,120
balance for this fund ended up being
about $1.6 million better than what was

192
00:17:02,560 --> 00:17:09,760
budgeted. And that's mostly due to levy
revenue budgets and then general

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00:17:07,039 --> 00:17:16,480
education aid. Some of those are harder
to predict than others. So, um that was

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00:17:13,839 --> 00:17:21,280
most of the reason there. those numbers
uh do these numbers do in exclude any

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00:17:19,360 --> 00:17:25,760
right of use lease and subscriptionbased
information. So those $3 million that I

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00:17:24,480 --> 00:17:30,160
was talking about before that's not
reflected up here because it's an in and

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00:17:27,600 --> 00:17:34,799
out. So I didn't want to skew those
numbers and they aren't budgeted for.

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00:17:32,597 --> 00:17:37,760
[snorts] The bottom data shows ending
fund balance as a percentage of

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00:17:36,240 --> 00:17:42,559
expenditures.
The prior year 2025 budget and actual

200
00:17:40,559 --> 00:17:49,880
are all greater than your 8% minimum
fund balance goal. and the percentage is

201
00:17:45,120 --> 00:17:49,880
similar to the prior year. So,

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00:17:50,080 --> 00:17:56,919
and moving on from our general fund,
we'll take a look at our other funds.

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00:17:58,720 --> 00:18:05,840
I don't know how many fancy transitions
I have in here, but [laughter]

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00:18:03,039 --> 00:18:13,039
uh the food service fund revenue for
2024 25 totaled about 2.4 million and

205
00:18:09,600 --> 00:18:18,080
expenditures were about 2.25 million.
That resulted in a fund balance increase

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00:18:15,200 --> 00:18:22,799
of roughly 146,000.
The district contracts with an outside

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00:18:19,840 --> 00:18:26,240
vendor, Taher, for the operation of its
food service program and receives

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00:18:24,559 --> 00:18:30,720
financial guarantees for the annual
operation operating results of that

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00:18:28,240 --> 00:18:34,480
program. The fund balance increased due
to receiving more than anticipated

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00:18:32,400 --> 00:18:39,600
earnings from investments, lunch sales,
and federal revenue, partly offset by

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00:18:37,120 --> 00:18:43,120
increased food and supply purchases and
costs. We all know that groceries are

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00:18:41,360 --> 00:18:51,559
going up and so that translates here as
well. The June 30th uh 2025 food service

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00:18:46,880 --> 00:18:51,559
fund fund balance is at 1,152,000.

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00:18:51,760 --> 00:18:59,679
The community service fund total
revenues and other financing sources

215
00:18:56,080 --> 00:19:05,039
were about uh $3 million and total
expenditures were 2.9 million. Total

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00:19:03,120 --> 00:19:09,280
revenues and other financing sources
exceeded expenditures by 48,000

217
00:19:07,440 --> 00:19:13,360
resulting in an increase of the same
amount in the fund balance. The main

218
00:19:11,679 --> 00:19:17,760
reason for that increase was positive
operations in general community

219
00:19:15,039 --> 00:19:22,640
education and early childhood family
education programs partly offset by a

220
00:19:20,400 --> 00:19:27,039
deficit of deficit operations in the
school readiness program. The community

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00:19:24,880 --> 00:19:30,760
service fund balance at the end of the
year is $951,123.

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00:19:32,080 --> 00:19:39,679
In the building construction fund, total
expenditures and other financing uses

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00:19:36,559 --> 00:19:46,080
exceeded revenues by about $8,000.
We had a transfer uh to the general fund

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00:19:43,440 --> 00:19:49,919
to close out this uh this building
construction fund since [snorts] the

225
00:19:47,200 --> 00:19:54,360
projects were all done. So at the end of
the year, the balance in that fund is

226
00:19:51,360 --> 00:19:54,360
zero.

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00:19:55,520 --> 00:20:03,440
The debt service fund revenues exceeded
expenditures by about $486,000.

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00:20:01,600 --> 00:20:07,679
That increase is primarily due to
statutory levy requirements and the

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00:20:05,360 --> 00:20:13,960
mandated funding of the escrow accounts.
The fund balance in this fund at the end

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00:20:09,440 --> 00:20:13,960
of the year is 3,432,000.

231
00:20:14,640 --> 00:20:22,640
The health insurance internal service
fund received about 3.86 86 million and

232
00:20:20,640 --> 00:20:26,240
charged for services pertaining to your
health insurance premiums from the

233
00:20:24,400 --> 00:20:30,720
participants and other governmental
funds of the district and incurred about

234
00:20:29,120 --> 00:20:34,880
4.97
million related to insurance claims paid

235
00:20:33,200 --> 00:20:40,559
and administrative fees for those
services which is an approximate $1.1

236
00:20:38,080 --> 00:20:45,679
million decrease. The net position in
this fund at the end of the year is at a

237
00:20:42,559 --> 00:20:51,760
negative roughly $2 million.
The OPED revocable internal service fund

238
00:20:48,240 --> 00:20:56,320
incurred about a $66,000 gain on
investments and investment expenses when

239
00:20:54,480 --> 00:21:01,679
netted together and paid the general
fund about 57,000 for employee benefits.

240
00:20:59,120 --> 00:21:07,960
So this increased the net position and
at the end of the year the net position

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00:21:03,520 --> 00:21:07,960
for this fund is at about $749,000.

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00:21:08,400 --> 00:21:17,600
Are there any questions?
Any of that? All right. If not, I do

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00:21:14,960 --> 00:21:23,440
want to thank Sarah, Trisha, Lyanna, and
all the others in the district that we

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00:21:20,480 --> 00:21:26,720
get to bug. They make the process pretty
easy. So,

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00:21:25,760 --> 00:21:30,520
» thank you everybody.
>> Thank you.

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00:21:27,360 --> 00:21:30,520
» Thank you.

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00:21:32,559 --> 00:21:37,200
» Move on to our consent agenda. I'll
entertain a motion.

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00:21:36,914 --> 00:21:41,600
[snorts]
>> I'll make a motion.

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00:21:39,200 --> 00:21:46,799
» Thank you. Second
>> motion by Sarah Brink and a second by

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00:21:44,720 --> 00:21:50,440
Tim to approve the consent agenda. I
will call for the vote.

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00:21:57,840 --> 00:22:01,320
That is approved.

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00:22:01,679 --> 00:22:06,880
Next category, board reports or update.
Does anybody have any updates

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00:22:06,240 --> 00:22:11,440
reports?
>> Mr. Chair, the executive committee met

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00:22:08,880 --> 00:22:16,799
on November 24th
and [clears throat] discussed in detail

255
00:22:12,720 --> 00:22:20,559
and in depth the shortfall in the 2627
budget.

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00:22:18,400 --> 00:22:27,120
It is unfortunate, but because of the
failed referendum and to remain and to

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00:22:24,159 --> 00:22:32,799
maintain a responsible and solvent
budget, we recommend proceeding with the

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00:22:29,440 --> 00:22:38,159
1.8 million in program cuts and
personnel cuts.

259
00:22:35,760 --> 00:22:41,600
» Thanks, Jeff. We also had a finance
committee meeting last week as well

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00:22:39,679 --> 00:22:45,520
reviewing the audit uh more a little
more in depth than what was done

261
00:22:43,039 --> 00:22:50,960
tonight. Uh and then also discussed as
well uh the upcoming issues relating to

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00:22:48,000 --> 00:22:56,320
the uh failed referendum and uh looking
um at what what and will be that process

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00:22:54,000 --> 00:23:00,039
and how it will come before the board uh
likely this winter.

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00:23:00,080 --> 00:23:04,360
» Thanks Sarah. Anybody else?

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00:23:07,120 --> 00:23:14,960
Moving on to our discussion items. Uh
summary of Superintendent Jeremy

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00:23:12,240 --> 00:23:19,919
Williams's review. A performance review
for Superintendent Jeremy Williams is

267
00:23:16,640 --> 00:23:23,600
now complete for the 2526 school year.
As part of the performance review

268
00:23:21,600 --> 00:23:27,280
process, an online evaluation was
completed by the school district staff

269
00:23:25,600 --> 00:23:31,440
and school administration and school
board. I didn't say that correctly. The

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00:23:29,360 --> 00:23:35,120
evaluation consisted of five sections
with various ratings areas. In each

271
00:23:33,200 --> 00:23:40,640
section, a ranking scale of 1 to four
was used with one being development is

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00:23:38,320 --> 00:23:45,280
needed and four being performance is
exemplary exemplary.

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00:23:43,520 --> 00:23:50,880
I will just uh I won't go through each
one of these, but I'll just say uh

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00:23:47,679 --> 00:23:56,480
Jeremy had a low of 3.07 rating on
instructional coaching support and a

275
00:23:52,799 --> 00:24:02,720
high of 3.67 67 on referendum leadership
with a total score of 3.32 out of four.

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00:24:00,799 --> 00:24:07,360
The ratings in process indicate that
overall Superintendent Williams met and

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00:24:04,640 --> 00:24:11,039
exceeded expectations in each of the
categories during the 2526 school year.

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00:24:09,679 --> 00:24:15,760
The school board was pleased with his
performance and the work that was done

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00:24:13,039 --> 00:24:20,600
focusing on student achievement. So,
thank you Jeremy. Appreciate it.

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00:24:21,200 --> 00:24:24,880
» Any questions on that?

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00:24:26,720 --> 00:24:34,880
Next discussion item is a second review
of policies. All of those listed. I will

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00:24:32,240 --> 00:24:38,760
not list all of them. Any questions or
concerns with these policies?

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00:24:40,799 --> 00:24:44,120
Hearing none.

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00:24:45,440 --> 00:24:51,200
Next action is a board action approval
of the 2425 financial audit which we

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00:24:50,000 --> 00:24:55,279
just heard.
>> So moved. Second.

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00:24:53,360 --> 00:25:02,000
» Thank [snorts] you. A motion by Sarah
Ranchie and a second by Jeff to approve

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00:24:57,760 --> 00:25:07,600
the financial audit for the 2425 school
year. Any further discussion?

288
00:25:05,520 --> 00:25:11,080
» Thanks for the work on that and for
Tamara for sharing.

289
00:25:12,080 --> 00:25:16,120
» I will call for the vote

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00:25:19,600 --> 00:25:23,039
and that is approved.

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00:25:23,760 --> 00:25:30,360
And with nothing else on the agenda, I
will adjourn the meeting. Thanks

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00:25:27,360 --> 00:25:30,360
everybody.