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Linn‑Mar reviews FY24 finances; special‑education deficit grows about $1 million
Summary
At its Oct. 28 meeting, the Linn‑Mar School Board reviewed unaudited FY24 financials showing $144 million in expenditures, improved overall fund balance but a roughly $1 million increase in the special‑education deficit; officials cited lower Medicaid reimbursements and one‑time COVID funding shifts.
At a meeting on Oct. 28, 2024, the Linn‑Mar Community School District presented its unaudited FY24 year‑end financial review and highlighted a growing special‑education deficit.
Jonathan Galbraith, the district’s chief financial operating officer, told the board the district recorded just over $144,000,000 in total expenditures for FY24 and that roughly 60% of expenditures are staff costs, with salaries accounting for the largest share. He noted the figures presented are unaudited and may change slightly after auditors complete their work.
Galbraith said the district’s general fund — funded primarily by state aid and property taxes — totaled about $104,000,000 and that overall revenues were up roughly 4.8% from FY23 while expenditures were down about 0.4%. “This is the first time in 3 years that we’ve had that,” he…
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