Al Habben, district accountant, informed the school board at their meeting on Tuesday night that they ended the 1999-2000 school year with a fund balance of $560,038. This compares to an $875,209 balance at the end of the 1998-99 school year.
This audit report revealed last year was the third consecutive year of deficit spending for the district. The general fund deficit spending over the previous two years totaled $777,975.
The district is currently in its fourth year of deficit spending.
In an attempt to save some money, the board approved refinancing a 1992 bond, a net savings of $9,390.
Myron Knutson, financial advisor, informed the board there is $250,000 left on the 1992 bond. The interest rate on the current bond is 6.1 percent.
The school is guaranteed an interest rate ranging from 4.5 to 4.8 percent. It will cost the district about $7,125 to refinance the bonds, leaving them a net savings of $9,390, Knutson told the board.
The 1992 bond was originally for $450,000 and will be paid off on Feb. 1, 2009.
Grant application
The board approved an application for an Otto Bremer Foundation Grant to assist in equipping and staffing the new fitness center.
Matt Dickhausen, community edu-cation/activities director, has completed a grant asking for $48,372 to purchase cardiovascular equipment and to pay for part of the staffing of the center.
Dickhausen would like to purchase equipment like a treadmill, climber, recreation bike, and an upright bike.
Other business
•The board approved the extra- curricular assignments for Joan Nevitt as high school speech advisor and for Becky Hoey as danceline coach.
•The board approved a staff develop-ment project for Sue Currens to help students make the transition from Early Childhood Family Education to kindergarten.
•The board approved changing partial inservice days to full days. Dates the students will not have school because of the inservice days are Monday, Dec. 4, and Tuesday, Feb. 20.
•Graduation will be held on Sunday, June 10, 2001 at 2 p.m. in the high school auditorium.
•Deb Gillman informed the board the middle school will be obtaining 16 refurbished computers from Minnesota Computers for Schools Program at no cost to the district. The computers are refurbished by inmates through the department of corrections.
•High school principal John Janotta informed the board that the student attendance rate is at 96.3 percent, the highest in four years.