Receiving the additional Long Term Facility Maintenance (LTFM) funding approved this past session requires a comprehensive level of planning. That planning will need to cover facility maintenance, health and safety, and accessibility issues for the district’s buildings and campuses. Districts need to do this planning, at least in rough terms by August 14 with Board approval by Sept. 30 in order to qualify for new equalized funding in Fiscal ’17.
The Minnesota Department of Education (MDE) will require the submission of two detailed, 10-year spread sheets (one for projected revenues and one for anticipated expenditures), a statement of assurances, and narratives for larger projects. These must be submitted to qualify for the levy authority. Learn more about the program.
Districts then need to revise these plans annually and may make changes throughout a 10-year cycle.
MREA recommends that districts assemble a LTFM team, including applicable district staff, school board, a financial advisor firm, and an architecture, engineering, or construction management firm, to do a more thorough job of planning in the 15-16 school year than is possible in the next three weeks. MREA has associate members who can provide this expertise.
MREA member district superintendents and business managers have been invited to a webinar this Thursday to understand these forms, the requirements and timelines. MREA will record that session and make it available to all members.