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Mahtomedi board hears quarterly budget update, approves single audit and $44,182 in donations
Summary
At its April 27 meeting the Mahtomedi Public School District board received a quarterly financial update showing a projected $812,000 year‑end deficit, approved the single audit report noting no material weaknesses, and approved $44,182.11 in donations and grants.
The Mahtomedi Public School District Board of Education on April 27 received a quarterly financial update through March 31 showing the district is planning for an $812,000 year‑end deficit.
"When we look at the total expenditures, 66.6% versus 64.6% last year. So, all in all, tracking right where we should be," presenter Tim Erickson said as he walked trustees through revenue and expenditure columns and timing effects on federal reimbursements.
Erickson told the board federal revenues were at about 46% of budget, reflecting timing and reimbursement lag for special education claims, while total revenues were 68.57% compared with roughly 70% the previous year. He said costs are higher…
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