Approval of 2022-2023 Revised Budgets

Approval of the revised 2022-2023 budgets will change the individual fund totals as follows, as compared to the FY 23 Preliminary Budget which was board approved in June 2023: 

1.       General Fund Revenues from $114,277,562 to $115,940,054.

2.       General Fund Expenditures from $120,905,292 to $124,532,359.

3.       Food Service Revenues from $4,712,660 to $4,504,875.

4.       Food Service Expenditures from $5,082,910 to $5,257,373.

5.       Community Service Fund Revenues from $6,679,162 to $6,792,927.

6.       Community Service Fund Expenditures from $7,160,907 to $7,268,349.

7.       Construction Fund Revenues from $55,000 to $420,000.

8.       Construction Fund Expenditures from $16,427,341 to $21,635,673.

9.       Debt Service Revenue from $8,936,880 to $8,949,232.  

10.       Debt Service Expenditures from $9,370,640 to $10,060,128.

11.       OPEB Trust Expenditures from $1,288,532 to $1,283,600.

12.       OPEB Debt Service Expenditures from $829,475 to $829,300.

Enclosed, as a separate document, is the recommended revised 2022-2023 budget for Mankato Area Public Schools programs.  This revised budget is an annual process and is recommended by the administration as a result of revised revenue projections, and a number of budget modifications which have occurred since the original budget was adopted in June of 2022. The primary drivers behind many of the changes in this Budget compared to the Preliminary Budget include: continued enrollment loss, capital outlay expenditures, and employment agreement updates. The increase in construction fund expenditures is related to the renovation of MRCI, along with Phase Two of the District's Indoor Air Quality Project plan.  District administration recommends approval.