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Board accepts clean audit, approves fund balances and a two-year teacher contract; several policy and finance votes passed
Summary
The board received an unmodified audit opinion for FY25 with two compliance findings, approved audited financial statements and assigned fund balances, certified 2026 taxes, approved a two-year teacher contract with salary and benefit increases, and approved several policies and a TIF extension request from the city.
The Edina Public Schools board approved a set of financial and governance actions at its Dec. 8 meeting after finance staff and independent auditors presented the fiscal-year 2025 audit and other items.
Audited statements and compliance: Principal auditor Bill Lauer (LB Carlson) told the board auditors issued an unmodified (clean) opinion on the districtfinancial statements for the year ended June 30, 2025. He said the audit required implementation of a recent GASB change accounting for compensated absences, which produced a $15 million restatement on entity-wide statements but did not affect fund statements. From a compliance perspective, auditors reported two…
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