16:44The district’s financial audit, presented by Jim Ikon from MMKR CPAs, further reinforced the district’s solid financial standing. The audit garnered a “clean opinion,” although it noted a reportable item concerning the segregation of duties within the district’s internal controls. This issue, attributed to the limited size of the business office, was not deemed a material weakness but will be monitored moving forward. The audit also highlighted the district’s positive financial trends, including a $600,000 increase in the general fund balance, which contrasts with a projected budget decrease. Despite these successes, the audit revealed two compliance findings related to municipal legal statutes, which the board acknowledged and plans to address.

48:52In a discussion about the district’s budget for upcoming fiscal years, board members considered potential budget reductions and adjustments, focusing on balancing fiscal responsibility with the impact on educational services. A proposal to use approximately one million dollars from the fund balance to mitigate cuts was debated, with concerns about maintaining fund balances above 9% due to previous hesitations about dipping below this threshold. The board emphasized minimizing the impact on teachers and students by considering long-term implications and maintaining smaller class sizes.

The conversation also explored financial strategies, such as increasing elementary class sizes to pre-pandemic levels. This proposal would not only align with previous averages but also potentially result in considerable revenue gains through additional state aid. However, board members expressed apprehension about the implications of larger class sizes on educational quality and student learning experiences.

1:05:43The board tackled the complexities of course offerings and the implications of potential reductions. Discussions centered on maintaining essential courses while exploring innovative solutions like blended learning models to deliver a wider array of classes cost-effectively. The rising costs of substitutes were also addressed, with suggestions to limit their use and rely on independent student work under light supervision.

1:21:11The meeting saw discussions on policy updates, including changes in directory information regulations and adjustments to graduation requirements, such as adding a personal finance requirement. Notably, policy updates regarding course weighting were thoroughly debated. AP courses would continue to receive weighted grades, while concurrent enrollment courses would not, due to challenges in assessing their rigor. This decision sparked a conversation about the impact of such distinctions on student academic choices.

1:38:57The board approved donations and grants totaling $77,900, vital for advancing the district’s mission. These funds are earmarked for various district needs, including playground equipment at OH Anderson and Wildwood Elementary, aimed at enhancing safety and inclusivity for all students.

1:05:43The board also reviewed the financial impact of recent federal funding and positions added during the COVID-19 pandemic, with an eye toward adjusting roles to align with the current financial landscape. A creative approach to addressing mandates and capital investments was encouraged, with a focus on long-term cost reductions through efficiency improvements.

1:38:57Finally, attention turned to community involvement initiatives, with the Mahtomedi Association reporting on fundraising efforts and plans for the Zephyr Gala, aimed at boosting community engagement and resources for district projects. The meeting concluded with a summary from the finance committee on positive financial projections, amidst discussions on potential budget reductions.