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Faribault board adopts FY2025–26 budget with planned fund‑balance drawdown
Summary
The board approved the district’s FY2025–26 adopted budget after an extensive presentation by finance staff. The general fund projects revenues of about $65.9 million and expenditures of roughly $67.4 million; total all‑fund expenditures are projected at $84.7 million. The motion passed 5–1.
The Faribault Public Schools School Board voted to adopt the district’s fiscal year 2025–26 budget at its June 23 meeting following a detailed presentation by district finance staff.
Business staff presented the proposed budget’s highlights: the district projects general‑fund revenues of about $65,857,215 and general‑fund expenditures of approximately $67,445,737. Across all funds, projected revenues total $80,308,228 and expenditures $84,743,506, leaving projected total fund balances of $15,874,066 at the end of the year — a planned drawdown of $4,435,278 compared with the beginning balances. The district’s unassigned general‑fund…
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