Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finance topic
No spam. Unsubscribe anytime.
Finance director: district finances on track through Nov. 30; federal funds lower as CARES-era support ends
Summary
Executive Director of Finance Scott Lesage told the board that Wayzata’s revenues and expenditures through Nov. 30 are generally in line with expectations, salaries and benefits remain the district’s largest cost, and federal revenues have dropped from CARES-related levels.
Scott Lesage, executive director of finance, presented the district’s financial report for the month ending Nov. 30 at the Jan. 13 board meeting, saying the district’s revenue and spending were generally aligned with prior-year patterns and that the finance team is working on a revised general fund budget ahead of the February board cycle.
Key points Lesage highlighted: - The financials shown were through Nov. 30 and reflect typical accounting lags for reconciliations. - Property tax receipts were “right on par” with expectations; state aids fluctuate depending on timing of property tax flows. - Federal revenues are lower than in recent years because CARES-era COVID relief funds have declined; Leslie also noted the district is using approximately $1.5 million in federal funds to offset tuition payments for programs that generate state special education revenue. - Salaries and benefits account for roughly 71–72% of district expenditures; Lesage said salaries are “spot on” with prior-year patterns and that revised budget work will reflect any staffing adjustments related to student growth. - Food service and community service funds are in line with prior-year activity; food service comparisons reflect the change to free lunches implemented in recent years. - Investment and liquidity: the district reported a liquid-max balance in the tens of millions (Lesage cited roughly $64 million sitting in liquid-max at the time, with transfers made ahead of payroll as needed).
Lesage said the finance and HR teams are finalizing the revised budget and expected to bring a general-fund revision to the board in February, followed by other funds in March. Board members had no additional questions following the presentation.
Why it matters: The report affirmed that the district’s finances are being actively monitored and that major expenditure drivers remain personnel costs. The decline in federal pandemic-era funds and internal use of federal dollars for tuition required noting in the revised budget work.
Next steps: Finance will continue revised budget work with HR and bring the revised general fund to the board in February; staff will post the financial report and continue monitoring cashflow timing and Federal fund usage.
