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October financials show General Fund revenues catching up; ending fund balance reported at $110.7 million
Summary
The unaudited October 31 report shows General Fund YTD revenue of $132,218,207 (21.0% of budget) and an October-ending fund balance of $110,675,591; YTD expenditures rose to $169,479,089 (23.9% of budget).
Minneapolis Public Schools' Finance Division presented the unaudited month-ending October 31, 2024 financial highlights. The district reported General Fund YTD revenues of $132,218,207 (21.0% of budget) and YTD expenditures of $169,479,089 (23.9% of budget), with a General Fund ending fund balance of $110,675,591 (October 31, 2024).
Staff compared year-to-date percentages with the prior year and provided object-level details: salaries YTD of $98,234,237 (24.5% of budget), benefits $27,434,199 (18.7% of budget), and increases in purchased services and supplies as YTD items. The October packet reiterated that cash and investments totaled $381,268,445 and listed updated MSDLAF fair market values and building-construction/facility fund balances.
