Board accepts clean audit, approves fund balances and a two-year teacher contract; several policy and finance votes passed
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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 items in the sample testing: two of 25 selected claims were not paid within the 35-day statutory window and a required unclaimed-payroll/other payments report had not been filed timely (seven payroll checks totaling about $7,000); auditors said records were otherwise in good condition and there were no internal-control findings. The board voted to approve the audited financial statements and the recommended assigned fund balances.
Collective bargaining and compensation: The board approved a ratified tentative collective bargaining agreement with Education Minnesota Edina covering July 1, 2025through June 30, 2027. Human Resources and finance staff said the package includes step advancement for eligible teachers in both years, a merging of the first and second steps to raise starting pay, a 3% salary-schedule increase in each year, increased district contributions to health insurance (10% on Jan. 1, 2026; 6.3% on Jan. 1, 2027) and a 2% increase to dental contributions in 2027. The district used MSBA costing guidance and reported the two-year package totals an 8.86% increase.
Other votes: The board certified property taxes payable in 2026 ($79,360,186.67; 4.49% increase), approved the City of Edina's request to extend two TIF districts, approved the 2025-27 Data Metrics Plan, and adopted several policies presented for quick review. All actions passed by voice vote.
What was decided: The district accepted the FY25 audited financial statements (clean opinion with two compliance items to address), set assigned fund balances, certified the 2026 levy, ratified a two-year teacher contract, approved the data metrics plan and several policy updates, and approved the city's TIF extension request. Administration and auditors identified follow-up tasks: filing the unclaimed property report (as required by the state), ensuring timelier invoice approvals from building to business office to meet 35-day requirements, and issuing the district's single-audit report when federal guidance permits.