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Shakopee district finance director says March finances are tracking to plan; revenues $59.8M, expenditures $89.9M
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Summary
Director of Finance and Operations David told the Shakopee Public School District board that, as of March 31, stated general fund revenues stood at $59.8 million and total expenditures were $89.9 million, and that one mandated journal entry for English‑learner accounting will affect year‑end balances.
Director of Finance and Operations David presented the district's March 31 general fund summary to the Shakopee Public School District school board on April 27, saying stated revenues were $59,800,000, or 59.95% of the annual general fund budget, and total expenditures were $89,900,000, or 65.66%.
David said federal revenue for the year is about $440,000 and property taxes tallied roughly $21,000,000, which he described as 77.02% of the general fund's property tax budget and noted will be reconciled with county payments expected in May and June. He flagged an English‑learner journal entry required this fiscal year (identified in the presentation as an EL journal entry and referenced as a requirement from the state review), which will create an offsetting revenue and expenditure entry that affects the reported EL fund balance at year end.
On expenditures, David reported salary and wages at about $50,700,000 (roughly 64.56% of budgeted salary and wage lines) and employee benefits at about $16,300,000 (64.71%). Purchased services were reported at $11,600,000 (about 65.12%), supplies and materials at $3,300,000 (78.11%), and equipment at approximately $7,400,000 (about 84.55%). "I'm not too concerned about meeting the budgets," he said, adding staff expect final entries and reconciliations to bring totals in line with prior years' outcomes.
Board members asked clarifying questions about the EL journal entry and timing of county tax receipts; David said the final Form 51 reconciliation from Scott County and late tax payments will 'true up' the numbers in May and June. He also explained that some object codes require year‑end journal entries tied to retiree benefit trust draws, which affects health‑insurance object codes.
The board did not take formal action on the budget presentation; David concluded that current revenue and expenditure trends are consistent with prior fiscal years and that staff will complete required year‑end journal entries and reconciliations.
What happens next: staff will complete the EL journal entry and reconcile county property tax receipts in May and June; the board will receive further updates as part of regular finance reports.
