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Board approves revised FY25‑26 budget; unassigned fund balance restored above policy level
Summary
The Prior Lake‑Savage Area Schools Board approved a revised FY25‑26 revenue and expenditure budget that moves the unassigned fund balance to 8.46% and shows revenues exceeding expenditures by $646,006 after updated enrollment and revenue projections; the board also discussed a proposed fee for ACT testing with waivers for eligible families.
The Prior Lake‑Savage Area Schools Board of Education voted Jan. 12 to approve a revised FY25‑26 revenue and expenditure budget that staff said restores the district's unassigned fund balance above its 8% policy target. The motion to approve the revised budget passed on a roll‑call vote, 7–0.
Staff said the revised figures incorporate updated enrollment verification and the Minnesota Department of Education's November 30 revenue model, which together produced additional revenue estimates. "We are at 8.46% for unassigned fund balance," the presenter said, and later summarized the net change as "revenues in…
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