General Fund Revenue: The general fund revenue is comprised of: State General
Aid (59%), Property Taxes (21%), State Categorical Aid (14%), Federal Aid (3%), and
{
School Finance:
Information collected from
interviews with Lisa Rider,
Burnsville-Eagan-Savage
School District Director of
Finance (personal
communication, January 17,
2018) and Gary Betcher,
Dover-Eyota School District
Business Manager (personal
communication, January 2,
2018).
Other Local Revenue (3%) .
General Fund Expenditures: The general fund expenditures consist of: Instruction,
Administration, District Support Services, Long Term Facilities Management,
Instruction/Pupil Support, Capital Facilities, Transportation, Operation and Maintenance,
and Fixed Costs.
General Fund: The General Fund is used to account for all revenues and expenditures of the school
district.
Funds are established in the Uniform Financial Accounting and Reporting Standards (UFARS) in
accordance with statutory requirements and Generally Accepted Accounting Principles (GAAP).
The same dimensions are used in both revenue and expenditure accounts with the exception of
the Object Dimension, which is used with expenditure accounts and the Source Dimension,
which is used with revenue accounts. Five of these dimensions are represented by a three-digit
code and one (the fund dimension) by a two-digit code. These dimensions are used in the
following sequence:
Minnesota school districts, charter schools, cooperative districts, area learning centers,
private alternative schools and nonpublic schools are required by law to prepare
financial reports and annual budgets. The budget must be adopted by July 1. The
budget process includes input from teams (Superintendent Leadership Subgroup,
Principals, Department Heads).