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Wayzata district revises 2024–25 General Fund budget after enrollment and aid uptick
Summary
Finance staff presented a revised FY2024–25 General Fund budget showing increased revenues ($221.25M) and expenditures ($223.57M) after an updated enrollment estimate and higher state and federal aid; administration recommended board approval of the revised budget.
Finance staff presented a recommended revision to the 2024–25 General Fund budget that reflects updated enrollment and revenue estimates and revisions to expenditure projections.
The packet lists revised total revenues of $221,253,035 and revised expenditures of $223,572,962, an adjustment from the preliminary budget. Key drivers included an increased enrollment estimate (12,760 students versus preliminary 12,684), updated state-aid projections, and higher federal and local reimbursements. On the expenditure side, the packet notes changes primarily in purchased services, supplies and materials, and capital LTFM spending driven by updated year-to-date costs and enrollment-driven needs.
Scott LeSage, the district’s executive director of finance and operations, summarized the changes and said the adjustments were intended to maintain prudent reserves while reflecting current-year realities. The packet reiterates the district’s fund-balance policy calling for an unassigned General Fund balance of 5–7% of annual expenditures; as of June 30, 2024 the unassigned balance stood at $16,989,020 (about 8.3% of the expenditure budget). The administration recommended approving the revised budget for the fiscal year ending June 30, 2025.
