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Minnetonka board hears FY25 audit, staff reports $3.9 million amended surplus for FY26 and cautious multi‑year projections
Summary
Auditors delivered an unmodified FY25 opinion and district finance staff presented an amended FY26 general operating fund budget showing a $3.9 million surplus, driven by higher enrollment and one‑time special‑education adjustments while long‑range projections flag possible deficits if state special‑education aid is reduced.
Minnetonka Public School District officials on Nov. 20 heard a clean audit for fiscal year 2025 and a budget update that shows a $3.9 million amended surplus for FY26 but potential pressures in later years.
CliftonLarsonAllen auditors told the school board their FY25 audit opinion was unmodified, meaning auditors found sufficient support for audited transactions and no material misstatements remained uncorrected. Trey Gabler, the audit principal, said the firm identified routine accounting estimates that can be volatile—other post‑employment benefits and self‑insurance claims—and noted one corrected misstatement that increased food‑service receivables by about $179,000. ‘‘We provide reasonable, not absolute, assurance,’’ Gabler said,…
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