Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Revision topic
No spam. Unsubscribe anytime.
District presents revised 2024-25 budget; projects fund balance and staffing increases
Summary
Business manager presented an updated 2024-25 revised budget showing increased enrollment, 21.6 additional FTEs and planned use of some reserves; the board will consider formal approval at its March 24 meeting.
The Elk River School District presented a revised 2024-25 budget at its March 10 meeting that reflects increased enrollment, updated revenue estimates and staffing additions.
Business manager Kim Eisenchanc told the board the revised budget updates projections with current enrollment (the presentation used 14,209 students for the revised projection) and incorporates legislative changes, contract settlements and carryovers. "So we did add 21.6 FTEs," Eisenchanc said, describing staffing additions included in the revision.
The presentation showed general fund revenue projected around $226 million and total general fund expenditures around $272 million, driven in part by carryovers and capital/equipment spending. Eisenchanc said the district's unreserved fund balance remains healthy and that the district is above its internal target of 8% (the presentation estimated an unreserved fund balance at about 12.95% of general fund expenditures). She said the district is continuing work on the preliminary 2025-26 budget and expects to present the revised budget for board approval on March 24.
Board members asked clarifying questions about reserves and recent changes to state compensatory and limited-English funding formulas. Eisenchanc and Superintendent Elmos explained that some state funding formulas are in flux and that the district is planning conservatively; they noted possible legislative adjustments that could affect future years. The board and administration agreed to keep monitoring state action and to consider adjustments as needed in future budget cycles.
Eisenchanc also reviewed other district funds in the packet including the food service fund (where free meals statewide and high participation have increased revenues and costs), community education, building construction (including recent long-term facility maintenance bond proceeds) and debt service. She said those funds and detailed schedules would be posted to the district website and that staff would bring formal approvals to the March 24 meeting.
