BLUE EARTH– Fiscal Services coordinator Alan Wilhelmi presented the Fiscal Year 2025 Governmental Accounting Standards Board (GASB) 75 Other Postemployment Benefits (OPEB) valuation for approval at the Blue Earth Area School Board meeting on Monday.

“The GASB requires a valuation from the district every year, but they work on an every-other-year schedule where ‘on years’ constitute a full report, while ‘off years’ only need a roll-forward report,” Wilhelmi explains. “This year, FY 2025, is considered an ‘off year,’ so FY 2026 will require a full valuation report.”

BEA schools has been working with VIA Actuarial Solutions (formerly known as Van Iwaarden Associates) to provide these yearly reports for the district since 2009. However, as the years have passed, the number of staff eligible for OPEB has decreased, leading to what Wilhelmi described as “sunset clauses” being put in place for the remaining staff.

“Many of our OPEB-qualified staff are getting to that age where they no longer require these benefits,” Wilhelmi says. “Our group is getting smaller every year, and it’s more important now that we provide an accurate report so that these valuations are accurate.”

The School Board approved the FY 2025 valuation report unanimously. Wilhelmi then brought forward the proposed agreement with VIA for FYE 2026 and 2027 for approval.

“The cost for the full GASB 75 report in 2026 is a fixed fee of $6,200, while the ‘off-year’ report in FY 2027 will cost $2,100,” Wilhelmi reports. “I anticipate these prices to continue to drop in the coming years, as more of our closed group of staff age out.”

Following a brief discussion, the school board made a motion to approve the engagement letter with VIA Actuarial Solutions for the FYE 2026 and 2027 valuation reports. The motion was passed unanimously.

Other topics that were discussed at the school board meeting included:

— A small group of first-grade students, accompanied by fourth-grade teachers Cathy Bell and Dani Morris, gave a presentation on the Elementary Buddies program. All of the students from the first and fourth grades meet together for a half-hour session once a month to engage in reading and math activities together.

— The April work session was tentatively scheduled for either April 16 or 23 at 5:30 p.m., with the exact date dependent on scheduling availability for the board members.

— Wilhelmi presented the revised budget for Fiscal Year 2025 for review and approval by the board. The revised budget was approved unanimously by the board.

— The list of coaches for the upcoming spring sports season was unanimously approved.

— The high school schedule change from the current block schedule to a seven-period day schedule starting in Fall 2025, previously presented at the Feb. 10 school board meeting, was approved unanimously by the board.

— An agreement with Jeremy Coxworth, president of the Blue Earth Diamonds, for the preparation of the softball fields for the 2025 sports season was unanimously approved.

— A lane change was approved for Brittany Eckhardt. The retirement of Sue Vogelsang and the resignation of Cameryn Kidder were also approved.