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September snapshot: MPS reports $126.8 million total fund balance, YTD general fund actuals $107.4M
Summary
In the unaudited monthly report for Sept. 30, 2024, Minneapolis Public Schools reported a total fund balance of $126,844,891 and YTD General Fund expenditures of $107,400,681 (15.1% of budget). The district said it began the fiscal year in compliance with its fund-balance policy.
Minneapolis Public Schools' Finance Division presented the unaudited monthly financial report for the period ended Sept. 30, 2024, reporting a total fund balance of $126,844,891 and noting the district began the fiscal year in compliance with the district's fund-balance policy. The report shows General Fund expenditures for the month of September of $54,705,119 and year-to-date general fund expenditures of $107,400,681, equal to 15.12% of the annual budget.
Revenue figures in the same report show General Fund YTD revenue of $86,247,458 (13.69% of budget) and detailed YTD by source: local, state, and federal. The packet also lists assets and receivables (total assets $266,345,452) and deferred inflows tied to property taxes of $121,244,325. The Finance Division noted a technical issue at one bank that delayed compilation of some September statement materials; staff said responses to prior questions had been provided to the committee.
