Final fiscal year 2009-10 numbers are in

After a careful review of the final amended budget for fiscal year
2009-2010, Anoka-Hennepin School Board members approved the document
June 28 as presented by Michelle Vargas, chief financial officer for
the school district.

by Sue Austreng
Staff writer

After a careful review of the final amended budget for fiscal year 2009-2010, Anoka-Hennepin School Board members approved the document June 28 as presented by Michelle Vargas, chief financial officer for the school district.

With the amended revenue budget at $527,345,840 and the amended expenditure budget at $537,351,405, the projected fund balance as of June 30, 2010 is $116,415,259, according to Vargas.

The general fund revenue detail shows a revenue increase of $35,952,856, a number that includes:

• $25,109,568 in OPEB (other post-employment benefits) bond sale proceeds.

• $10,269,471 in federal entitlement increases (including $8.5 million in ARRA federal stimulus dollars).

• $574,000 of miscellaneous state and local grants (including $230,000 of Microsoft settlement dollars and $93,000 in U.S. Math Recovery Grant money).

Expenditure details shows an increase of $46,337,952, a number that includes:

• $25,109,568 in the recognition and transfer of OPEB bonds to the trust account.

• $10,269,471 of federal entitlement increases (including $8.5 million in ARRA federal stimulus money).

• $574,000 in miscellaneous state and local grants (including $230,000 in Microsoft settlement dollars and $93,000 in U.S. Math Recovery Grant money).

• $10.4 million in miscellaneous carry-overs (including $4.8 million in capital carry-over; $2.2 million in building supply and fund-raiser carry-over; $501,000 in talent development carry-over; and $420,000 in crime levy carry-over.

According to Vargas, the carry-over items have been reserved or designated in the fund balance and do not have a negative effect on the unreserved-undesignated fund balance.

The community service fund amendment summary shows a beginning balance of $3,477,525, with revenues of $18,935,123 and expenditures at $19,032,260.

The ending fund balance in the community service fund totals $3,380,388, resulting in a $97,137 operating deficit.

The revenue details in the community service fund show a decrease of $484,385, a number which include$605,000 in Adventures Plus enrollment reductions and $62,000 in federal entitlement reductions offset by $162,000 in miscellaneous grants.

The community service fund expenditures show a decrease of $299,410, which include:

• $564,000 in Adventures Plus program reductions due to declining enrollment.

• $162,000 in miscellaneous grants spending (including the $98,000 Anoka County SHIP grant).

• $150,000 in increased Adult Basic Education spending.

The district’s capital projects fund shows revenue remaining at $1,825,714, with expenditures reduced by $144,962 (which includes the reduction for fiscal year 2010 projects which started in the summer of 2009).

The fund balance will be restored by the fiscal year 2011 revenue, Vargas said.

The capital projects fund is similar to health and safety funding in the general fund and the timing of projects and funding may not align to the fiscal years, allowing for negative fund balances, according to Vargas.

The district’s trust fund amendment summary shows a beginning fund balance of $3,167,139, with revenue of $26,301,522 and expenditures at $2,425,000.

The ending fund balance is $27,043,661 (OPEB balance of $26,510,694 plus $532,967 in scholarship and other balance).

The trust fund amendment shows a revenue increase of $26,096,522 (OPEB trust contribution from OPEB bond sale) and an expenditure increase of $1,800,000 (OPEB implicit rate subsidy transfer to operating funds).

With the 2009-2010 budget amendment approval taking place at the school board’s June 28 meeting, the state requirement of budget approval by June 30 was met.

Sue Austreng is at sue.austreng@ecm-inc.com

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