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Superintendent presents unaudited FY25 results; board told fund balance fell about $415,000
Summary
Superintendent Kai told the Le Sueur-Henderson School District board the district’s unaudited FY25 fund balance fell from about $1.39 million to $978,000, highlighted special-education aid adjustments and one-time recognition of Chromebook purchases, and said a revised budget will be brought to the March meeting.
Superintendent Kai told the Le Sueur-Henderson School District board on Feb. 2 that the district has not yet received audited financial statements and presented unaudited FY25 figures showing a fund-balance reduction of roughly $415,000, from about $1.39 million to $978,000.
Kai said multiple factors drove the change, including revisions in special-education aid calculations, tuition-billing adjustments for students served out of district, and the early recognition of Chromebook deliveries that were received before the fiscal-year cutoff. "We had a fund balance change of a reduction of 415,000. So 1.39 million down to 978,000," Kai said, describing the numbers as the best available but not yet audited.
The superintendent also flagged expense-side items that affected FY25 after initial budgeting: higher utilities at the middle/high school and Park Elementary, accrual adjustments for health-insurance liabilities (about $140,000), and a reduction in purchased special-education services after the district brought two speech therapists on staff. Kai said student-activity revenues rose but generally offset related expenses.
Looking ahead, Kai said he will present a revised budget at the board's March meeting. He described several planning assumptions for fiscal year 2027, including a working ADM of 885, a possible 2% salary/benefits increase (which would add roughly $180,000 in wages and benefits), and negotiations for the transportation contract that expires June 30. "We're going to be working with [the transportation provider] on negotiating a new contract," he said, noting market pressure could raise costs.
Kai also outlined enrollment projections from Region Five showing a potential decline of about 22 students and said state special-education revenue dynamics could restore roughly $350,000 in the following year as federal carryover dollars are exhausted and state reimbursements are recalculated. He told the board monthly financial statements will be available at the next meeting and recommended a deeper review in finance committee in March.
The board asked for clearer line-item breakdowns and requested follow-up on several accounting classifications that produce large miscellaneous balances in the unaudited statements. Kai acknowledged the figures are unaudited and subject to adjustment as auditors complete their work.
The board did not take a formal vote on the revised budget at the meeting; Kai said formal adoption would follow the committee and public-review process this spring.
