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St. Louis Park finance advisory committee recommends rebuilding reserves, conservative state revenue estimate and modest fee changes
Summary
The district’s finance advisory committee proposed five budget recommendations including a fund‑balance target, a 2.53% state funding estimate, enrollment projection of 4,326, maintained student fees, and targeted cost‑containment measures; the board will receive a final budget next month.
Patricia Magnuson, director of business and services, and members of the district’s Finance Advisory Committee presented budget guidance and fiscal recommendations to the St. Louis Park School Board on Feb. 25 as the district prepares its FY‑26 budget.
The committee presented five principal recommendations: (1) prepare an expenditure budget that maintains an unreserved general fund balance of at least 8% and develop a long‑term strategy to grow that balance toward 12–16%; (2) assume a formula‑allowance increase of 2.53% for FY‑26 in budget planning (the committee used the…
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