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Wayzata reports stronger FY24 fund balances: General Fund up $11.7M to $52.7M; cash increases to $75.8M
Summary
Wayzata Public Schools' FY24 General Fund ended with $52.7 million total fund balance, up $11.72 million from FY23, and $75.8 million cash (net of borrowing). District leaders cited rising state aid, enrollment growth and investment earnings as drivers.
District management reported an improved fiscal position in FY24, with the General Fund total fund balance increasing by $11,720,141 to $52,673,468 and a General Fund cash balance (net of interfund borrowing) of $75,795,657. The management transmittal noted the District received $256,792,694 in governmental funds revenue for FY24 — a 9.6 percent increase from the prior year — and that state sources and investment earnings were notable contributors to revenue growth.
Executive Director of Finance and Operations Scott LeSage highlighted that unrestricted fund balance as a percentage of operating expenditures increased to 16.3 percent at year-end (state formula basis) and that unassigned General Fund balance represented 8.3 percent of expenditures, above the district policy minimum of 5–7 percent. The ACFR transmittal emphasized the district’s cash position and ongoing commitments to long-term facilities maintenance.
Administrators tied the stronger balances to a mix of factors: higher state funding (including basic formula increases), favorable investment returns, stable enrollment growth (ADM estimated at 12,499 for FY24), and prudent budget containment measures. The district also noted ongoing capital spending and a planned spenddown of building bond proceeds.
