Budget & Finance
With a focus on supporting student learning, financial stability of the school district is an important goal for our school district. As responsible stewards of taxpayer funds, our business office professionals manage district revenues, expenditures, student accounting and payroll.
In Minnesota, funding our public schools is a shared responsibility among local, state and federal entities. The majority of the revenue for school districts comes from the state. Local property taxes account for a small percent of the district's overall operating budget. There are many factors that influence our budgets each year, including enrollment, community support, local economy and decisions by state legislators. Other factors influencing our budget are class-size ratios, age of buildings, emerging technology, experience of staff, specific student needs the district's strategic priorities.
Public education is a human enterprise; more than 74% of our annual operating is dedicated to salaries and benefits for the employees who work with and in support of student learning. Salaries expenses are influenced by employee longevity, education, pay rates and other items included in bargaining agreements, statutory requirements for employer contributions to state pension funds, and rising insurance premiums.
The financial performance of the District as a whole is reflected in its governmental funds. By board policy, the district strives to maintain a minimum unassigned fund balance of 15% of the annual budget.
In accordance with its fiduciary responsibility, the school board contracts with independent certified public accountants to audit district finances. The district's fiscal year runs from July 1 to June 30 each year. The audit is presented to the school board by the end of the December each year.