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Board approves 2018-19 budget

Aerial view of Kuhlman stadium with water tower in foreground.

The Edina School Board approved the operating budget for the 2018-19 school year on June 18. The General Fund budget is based on anticipated revenues of $115.2 million, and expenditures estimated at $113 million.

Revenues for the coming year are expected to increase by about $5.3 million over last year. The 4.8 percent increase over last year is due to a number of state and local funding increases. Estimated expenditures represent a decrease of $2.8 million, or 2.5 percent, over last year. Decreases are the result of budget plan reductions, capital and supply carryovers and decreased long-term facility maintenance expenditures.

Key budget factors include:

  • 2 percent increase by the state to the General Education Formula Allowance, paid to districts per student
  • Anticipated slight increase in student enrollment
  • Local operating referendum increase
  • Increase in state funding for special education which is equal to the increase in expense
  • Increased interest revenue
  • Budget adjustments throughout the district totaling $1.7 million

The estimated unassigned fund balance is $6.2 million, is 5.9 percent of annual expenditures, which is just under a month of normal operating expenditures. According to Margo Bauck, director of business services, the unassigned fund balance trend offers “the single best measure of the district’s overall financial health.” 

The Board also approved special revenue funds for Food Service and Community Service funds, which includes the financial activities of Community Service, Community Education, Early Childhood Family Education and School Readiness. The estimated combined June 2019 fund balance for these funds is $$1.8 million, an increase of $280,642 from the previous year.

View the adopted 2018-19 Budget on the district website.