After reviewing minor changes to a previously approved form, the Eden Prairie School Board approved its final budget for the 2019-20 school year at its June 24 meeting.
All told, the projected revenues for the district’s general fund in the coming year total $110.6 million, paired with projected expenditures totaling 110.7 million. Though the projected expenditures are slightly higher than the revenues in this year’s budget, the district still expects to end the fiscal year with a 15.8% unassigned general fund balance — well above the executive limitation that states that the board’s financial plans must maintain 8%.
The general fund makes up over two-thirds of the entire budget. The remaining third is made up of various funds including food service, community service, building, debt service and capital outlay funds. The total budget projects $162.6 million in revenues, along with $166.1 million in expenditures.
In keeping with another executive limitation, school board materials note five categories of efforts (school board meetings, a citizen finance advisory committee, principals and department, community outreach and the superintendent cabinet meetings) aimed at collecting input on its financial decisions.
The largest change made since a preliminary version of the budget the board saw was the incorporation of $893,559 into the General Education Aid revenue budget, due to a 2% increase to per-pupil funding from the state.
Matthew Hippen, director of finance at Eden Prairie Schools, explained that change’s impact.
“It’s two percent in both years — 19-20 and 20-21,” said Hippen. “That brings up our per-pupil amount to $6,438 per pupil for next year’s adopted budget. We increased that form what had been presented in May by $609,000, and we did also adjust the multi-year projection.
“You can really tell what the basic funding formula means to our district, when it comes to revenue,” continued Hippen. “It makes a huge difference.”
Hippen noted a few other minor changes resulting from state-level legislative action. Board Chair Elaine Larabee thanked district staff members for their work on the budget before the vote.
“A lot of appreciation for this hard work,” said Larabee. “We’re in a really good spot, and it’s due to a lot of hard work from a lot of people, so we really appreciate that.”
The board approved the budget unanimously in a 7-0 vote.