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Wayzata Board reviews $3.84 million revenue increase in FY2024-25 general fund revision
Summary
District staff presented a revised FY2024-25 general fund that boosts revenues by $3,838,872 to $221,253,035 and raises expenditures by $3,295,262 to $223,572,962; the update narrows the projected deficit and reflects higher enrollment and updated year-to-date costs.
Scott LeSage, Executive Director of Finance and Operations for Wayzata Public Schools, presented a proposed revision to the district’s FY2024-25 General Fund that increases total revenues from $217,414,163 to $221,253,035 and raises total expenditures from $220,277,700 to $223,572,962. "The adjustment to revenue is due to an increased estimate of enrollment for the fiscal year ending June 30, 2025 along with a few additional factors driving revenue up above initial forecast," the presentation states.
The revised tables show total revenues rising by $3,838,872 and total expenditures rising by $3,295,262, narrowing the projected deficit from -$2,863,537 to -$2,319,927. Line-item changes attributed to the revision include updated estimates for salaries and benefits, increased purchased services and supplies, and higher capital spending. The presentation noted special education cost increases, tuition billing factors and facility-related needs as drivers of higher purchased-service expenses. The Board opened the floor for discussion after the presentation; no formal vote was recorded in the work session materials.
