Minnesota School Trust Fund Amendment Could Boost Local District Spending By Thousands

SAUK RAPIDS (WJON News) -- One of the questions on this year's ballot in the general election is the Constitutional Amendment that changes the formula in the state's school trust fund.

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Sauk Rapids-Rice Superintendent Brad Bergstrom says one of the biggest questions he's been getting from residents is whether, if it passes, is the fund going to run out of money. He says the change would mean spending 4 1/2 percent of the total fund over a three-year average, similar to a large endowment at a university.

Much like those large universities don't want to dig into the principal and see that dollar amount decrease, it's the same concept here.  The fund has grown since 2010 from about $650 million to now more than $2.3 billion.

Bergstrom says the money goes to each school district to use as it sees fit.

This last year, we got $279,000 from the permanent school fund trust.  If the new amendment had been in place, it would have been about $420,000 for us.

He says that's a small increase in a $67 million budget, but it could potentially help to pay for an extra teacher or a paraprofessional.

Sauk Rapids-Rice School Board Election

Sauk Rapids-Rice voters will also be voting in the school board election. There are three open seats, with all three incumbents running. There are no challengers on the ballot.