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Minidoka Joint School District’s General Fund rises to $4.94 million after state funding boost
Summary
District management reported a $3.33 million increase in the General Fund balance to $4,944,164 for FY2023–24, citing a late state funding allocation and enrollment-driven funding changes.
District management reported that total state and reimbursement funding rose from $31,834,333 in fiscal year 2023 to $37,978,434 in fiscal year 2024, a 19.3% increase that the MD&A said contributed to a $3,326,113 increase in the General Fund balance to $4,944,164 at June 30, 2024.
The Management’s Discussion & Analysis notes that the increase was difficult to predict because some state funding arrived late in the fiscal year after the annual budget had been approved. The MD&A also records that local revenue decreased (property tax revenue fell) and that salary and benefits comprised roughly 70% of General Fund expenditures per the budget exhibits.
