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District financial update: fund balances stable, Title funding delays noted
Summary
Business officials reported November financials showing the district's unassigned fund balance at 10.86% and total general fund balance at 12.37%. Officials said federal Title funds were delayed because of MDE SERVES reporting, and reminded the board of a large bond principal and interest payment due at month end.
The Prior Lake‑Savage Area Schools business office told the board on Jan. 13 that November financial reports show the district's unassigned general fund balance at 10.86% and total general fund balance at 12.37%.
Tammy Frederickson, who spoke for the district business office, said the district remains within board policy targets for fund balance. She told the board that all federal COVID relief funds required to be spent by Sept. 30 have been obligated and that a small amount (about $6,000) was returned because some planned summer…
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