(KNSI) – The St. Cloud Area School District approved its $200 million budget for the upcoming fiscal year and is anticipating more money.
The district will begin operating under the 2023-2024 budget on July 1st; however, Executive Director of Finance and Business Service Amy Skaalerud says its budget will grow thanks to the Minnesota Legislature. “We’re looking at about $10 million, is what the district received between the increase on the per-student formula allowance, as well as some targeted special education funds. That’s what we’re looking at in terms of new money.”
The board will meet in mid-July to decide what to do with the new funds. It can be spent on whatever the district decides.
Skaalerud told KNSI News that the most important thing is to balance the budget. “For the general fund, which is really the majority of where all of our instructional costs come out of, we’re looking at a break-even to a slight surplus.”
The schools have a projected surplus of just over $44,000. The numbers include a projected $17.9 million in the district’s fund balance which acts like the district’s savings account.
The schools get 78% of that money from Minnesota’s per-student funding formula, 13% from federal funds, 6% from local property taxes and 3% from grants and fees.
___
Copyright 2023 Leighton Enterprises, Inc. All rights reserved. This material may not be broadcast, published, redistributed, or rewritten, in any way without consent.
FOLLOW US FOR INSTANT UPDATES!
FOLLOW US FOR INSTANT UPDATES!