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Hopkins leaders say reserves used sparingly; board policy and audits guide decisions
Summary
Hopkins officials described how the district maintains and uses reserves, reporting a board policy requiring a minimum fund balance (about 6%), previous use of $3 million to stabilize recent budgets, and restrictions on certain funds that prevent using them for operating salaries.
Hopkins Public School District officials and board members explained to the community how reserves and fund balances factor into budget decisions and why district leaders treat those reserves cautiously.
Rachel Hartland, treasurer of the Hopkins school board, said the board recently approved using $3,000,000 of fund balance to mitigate impacts to services and classroom staffing during a prior budget shortfall. Director of Business Services Theo Chapinduca outlined how the district segregates funds by purpose: some…
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