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Minnetonka School Board approves $55 million bond issue and $73.74 million levy, adopts amended FY26 budget and accepts clean FY25 audit
Summary
The Minnetonka School Board authorized a single $55 million general‑obligation bond tranche, certified a $73,736,113.36 levy (a 5.09% increase), adopted an amended FY26 budget projecting a $3.9 million surplus, and accepted a clean FY25 audit with one food‑service adjustment.
The Minnetonka School Board voted Dec. 11 to authorize a $55,000,000 general‑obligation school building bond issuance, certify the district's 2025 payable 2026 property tax levy at $73,736,113.36 and adopt an amended fiscal year 2026 operating budget. The board also accepted the district's FY25 external audit, which delivered a clean (unmodified) opinion.
Executive Director of Finance and Operations Paul Bourgeois told the board the bond resolution replaces an earlier two‑tranche plan and would be issued in a single $55 million tranche "with no change to the tax impact as we told the public would be…
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