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Shakopee presents FY2027 proposed budget: $145.8M in revenue, enrollment projected at 7,464
Summary
Director of finance David Drastovich presented the district's FY2027 budget foundations, forecasting $145.8 million in revenue, enrollment of 7,464 AADM, increased local property tax revenue tied to prior ballot questions, and planned allocations across general, food service and other funds.
On June 8 the district presented its proposed FY2027 budget and financial outlook, walking the board through revenue assumptions, expenditure projections and fund balances.
David Drastovich said the district used an enrollment projection of 7,464 average adjusted daily membership (AADM) as the basis for state-aid revenue calculations. He said state aids account for approximately 70.9% of general fund revenue and that the district's December levy (approved previously) and ballot question results increased local property tax revenue materially for FY27.
Key numbers presented included proposed total combined revenues of roughly $145.8 million and projected expenditures near $139.4 million for FY27, with a targeted assigned fund balance that maintains the district's policy goal of around 10% on hand. Drastovich outlined major expenditure drivers: salary and benefits (projected to rise about 4.6% to roughly $108.5 million), transportation contract increases partially offset by reduced days, and adjustments to operating capital because one-time curriculum purchases in FY26 will not repeat.
He also addressed risk factors the board should monitor: ongoing contract negotiations with several employee groups, unresolved state aid finalization, and the potential end of certain federal unemployment funding that could require general fund coverage. Drastovich recommended continued monitoring and noted the board will take action on the budget at the June 22 meeting.
The presentation included fund-level details (food service, community education, construction, debt service, internal service and trust funds), long-term facility maintenance (LTFM) bond planning and OPEB trust funding status. Drastovich said the district is roughly 50% funded on its OPEB trust and aims to increase that level over time.
