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Royalton committee notes $1.22M estimated state-aid holdback; MDE adjustments continue through June 30
Summary
Committee materials estimate a 10% state-aid holdback of $1,223,214 to be paid in the fall; MDE will continue adjustments through June 30. The FY26 audit with Brady Martz is scheduled Sept. 8–10, and federal grant reimbursements of $3,550 remain to be submitted.
The Finance Committee's May 27 materials flagged a current-year state-aid holdback estimated at $1,223,214 — described as a 10% holdback — that the district expects to receive in the fall once Minnesota Department of Education adjustments are complete. The materials also list a prior-year state aid receivable of $39,967.
The presentation noted a current-year federal aids receivable of $3,550 for grant expenditures awaiting reimbursement and an April food-service deposit of $81,973 that was recorded in May. The district has scheduled its FY26 audit with Brady Martz for Sept. 8–10. The document does not record a vote or policy change; it presents administrative and timing details the district will monitor as MDE finalizes holdback calculations through June 30.
