November 28, 2018
Super: legacy fund source
By JILL DENNING GACKLE
Where there’s a will, there’s a way.
Or at least that’s what Nick Klemisch, Garrison superintendent, is hoping.
Klemisch sent proposed legislative language to legislators, community leaders, other school districts and almost anyone who would listen that would allow money from the Legacy Fund to be used to finance school building improvements.
The language he is proposing would establish a minimum amount in the Legacy Fund of $4 billion. “When the Legacy Fund exceeds $5 billion, the excess funds of no more than $1 billion will then be distributed equally to all school districts in the state based on the previous year’s fall enrollment of K-12. The funds will be distributed to all school districts and designated solely to their building fund account. The funds can only be designated for building fund projects, capital maintenance or paying on existing bond referendums.”
If there is an excess of $1 billion, about $9,090 will be distributed per pupil statewide. In Garrison that would be $3.4 million; in Jamestown that would be $19.5 million and in Minot it would be $67.3 million. The Legacy Fund exceeds $5 billion.
Or at least that’s what Nick Klemisch, Garrison superintendent, is hoping.
Klemisch sent proposed legislative language to legislators, community leaders, other school districts and almost anyone who would listen that would allow money from the Legacy Fund to be used to finance school building improvements.
The language he is proposing would establish a minimum amount in the Legacy Fund of $4 billion. “When the Legacy Fund exceeds $5 billion, the excess funds of no more than $1 billion will then be distributed equally to all school districts in the state based on the previous year’s fall enrollment of K-12. The funds will be distributed to all school districts and designated solely to their building fund account. The funds can only be designated for building fund projects, capital maintenance or paying on existing bond referendums.”
If there is an excess of $1 billion, about $9,090 will be distributed per pupil statewide. In Garrison that would be $3.4 million; in Jamestown that would be $19.5 million and in Minot it would be $67.3 million. The Legacy Fund exceeds $5 billion.
