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SLPS finance director reports healthy fund balance, audit work ongoing
Summary
District staff told the Board the operating fund balance remains above policy targets as auditors complete reviews; leaders warned of planned fund balance spending and state budget and voucher risks that could reduce future revenue.
The Saint Louis Public Schools (SLPS) finance presenter gave the board a second-quarter update covering August through December, saying the district’s unrestricted operating fund balance is projected to end the year well above the district target and state minimums.
The presentation showed SLPS’s projected operating fund balance for fiscal 2023–24 at 54.36 percent (subject to change after the annual audit) and budgeted year‑end 2024–25 fund balance at about 45.43 percent, above the district maintenance target of 30 percent and the Missouri Department of Elementary and Secondary Education (DESE) minimum of 3 percent. The presenter said the district is “spending down our fund balance” in planned ways and described…
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