Auditors at Monday's board meeting gave the district an unqualified or "clean" opinion--the best opinion a district can receive. 

The auditors reported that the district's revenue and expenses came in slightly better than projected last year. The district has an unassigned fund balance of $2,689,727 or 13% of general fund expenditures. "This is the result our community's generous support of our local levies and the hard work and hard decisions to prepare for the financial uncertainty presented by the state," says Superintendent Kevin Borg. Borg noted that as the state shifts to a 60/40 payment schedule, the district will depend on its unreserved fund balance to reduce borrowing costs and give the district greater stability.

Borg commented, "I want to thank our Finance staff for their hard work and the staff at large for the discipline shown in these economically challenging times."

Current Year Financial Position. Westonka is on budget with expenses and revenues for the year. The district will continue to monitor its current year budget and begin to make assumptions for the 2012-2013 budget. Consistent with other years, a budget goal will be prepared by the end of January for the next school year. 

2010-2011 Audit Report Now Available Online. For more detailed information, check out our audited financial statement for July 1, 2010-June 30, 2011.  

For questions regarding district finances, please feel free to contact Superintendent Kevin Borg directly at borgk@westonka.k12.mn.us or 952.491.8001.

 
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