Elk River Independent School District 728

The meeting content focused extensively on the annual audit report. Key discussion points included the auditor's opinion on the district's financial position and compliance with governmental accounting standards and state laws. A major topic was the delay in issuing the single audit, which is pending the release of the 2025 compliance supplement by the federal government, with an expected extension for the report issuance date until March 31, 2026. The auditor issued an unmodified opinion on the financial statements, noting a restatement of the beginning net position by nearly $18 million due to implementing new guidance (Gatsby Statement No. 101) concerning compensated absences, particularly sick leave liabilities, which is now reported on entity-wide financial statements. Furthermore, one instance of non-compliance regarding the timely payment of claims (exceeding the 35-day statutory requirement) was reported, attributed to delays in invoice processing between remote locations and the business office. Financial performance review covered the general fund, noting a $92 million cash balance and $72.3 million in total fund balances, with significant discussion on fund balance assignments including site carryovers, curriculum and technology allocations, and assigned funds for the 2026 budget. Revenue variances were detailed, highlighting an over-budget performance of approximately $2 million, primarily due to stronger-than-projected state aid resulting from higher enrollment (15,500 pupil units). Expenditures were discussed in relation to increased costs for serving more students, particularly in instructional salaries, transportation, and contracted services. Other funds reviewed included food service, community service, capital projects, and debt service funds.

The meeting included student leadership recognition from Rogers Elementary, Rogers Middle, and Rogers High School. The public comment section addressed concerns about the cheer coach, transparency regarding the repurposing of Meadowville, and Title IX.

The meeting included recognition of students from Westwood, Zimmerman Middle School, and Zimmerman High School for their achievements and contributions to the school community. Public comments addressed concerns about potential cuts affecting arts programs, particularly the Red Elk Jazz Ensemble, and emphasized the importance of providing diverse opportunities for students. Further public comments highlighted school safety, support for minority youth, and the district's core values. A discussion also took place regarding the participation of students from Spectrum Charter School in River Valley Percussion Theater.

The document presents the proposed budgets for Independent School District 728 for the fiscal year 2018-2019. It includes budgets for the Building Construction Fund, Debt Service Fund, Scholarship Trust Fund, Self-Insured Property and Liability Insurance Internal Service Fund, Self-Insured Dental Insurance Internal Service Fund, Self-Insured Health Insurance Internal Service Fund, OPEB Trust Fund, and OPEB Debt Service Fund. The budgets outline the expected revenues, expenditures, and fund balances for each fund.

The proposed budgets include the Building Construction Fund, Debt Service Fund, Self-Insured Property and Liability Insurance Internal Service Fund, Self-Insured Dental Insurance Internal Service Fund, Self-Insured Health Insurance Internal Service Fund, OPEB Trust Fund, and OPEB Debt Service Fund. The Building Construction Fund includes details on bond proceeds and expenditures for various construction projects and LTFM projects. The Debt Service Fund discusses property tax and state revenue, as well as expenditures for fixed costs. The Self-Insured Funds cover insurance premiums, claims, and management services. The OPEB Trust Fund discusses investment income and potential employer contributions. The OPEB Debt Service Fund includes revenue from property taxes and expenditures for fixed costs.