Budget & Finance
Strategic financial management and effective budget controls are the foundation of a good school finance system. Our district's mission and goals can only be accomplished through the effective allocation of human, financial, and physical resources. School funding drives the opportunities available to our students, and our decisions are made in the best interests of all students. Community support of our schools is invaluable to providing safe, healthy, and positive learning environments and programs for every student.
Our finance team is committed to accountability, communication and transparency. Our public schools are among the most valuable assets in our community, and they are owned by the community. As responsible stewards of taxpayer resources, we welcome your questions.
Budget: Revenues & Expenses
In Minnesota, school funding comes primarily from three sources: Federal, State, Local dollars. With the support of local voters, our community approved additional support for our schools through a local operating referendum in 2021.
Referendum Funds Used As Promised
In November 2021, voters in our community overwhelmingly approved a school district referendum to provide additional operating funds to hire and retain teachers and staff and lower class sizes. A second question on the ballot provided funds to protect career-technical education programs.
As a result of the strong voter support (62% support), our school district was able to increase starting salaries for new teachers and provide our veteran teachers with a modest raise. We also avoided cuts in career and technical education electives and look forward to growing opportunities in the future.
In August 2022, we welcomed 85 new teachers to Cambridge-Isanti Schools. They filled new positions to lower class sizes, restored more than half the positions cut from 2019-2021, and replaced open positions due to resignations and retirements.
In August 2023, we will welcome 24 additional new teachers to reduce class sizes, with a focus toward middle school and high school.
We are proud to report that 100% of the revenue approved by voters is being used as promised.
All referendum funds are being used to reduce class size, increase vocational opportunities, or held in reserve to ensure the sustainability of these obligations into the future.
Exercising fiscal responsibility and a conservative property tax stance, we are pleased to report the tax impact of the referendum was LOWER than originally publicized. The district had anticipated the cost to be $12 a month on a $200,000; when the FY2023 levy as adopted, it was less than that.
We are grateful for the community support of the additional funding and the continue involvement and support of our students and our schools.
July 1: Fiscal Year Begins
August-October: Annual audit by an independent audit firm
September: School Board adopts a preliminary levy for taxes payable the following calendar year
October-November: The budget process begins for the next fiscal year
December: Annual Truth in Taxation Hearing and School Board adopts final tax levy
December: Annual Audit Report to the Board
January: Enrollment projections and Kick-off for Kindergarten enrollment
February: Deadline for retirement notifications
February-March: Budget development meetings
March-April: Budget presentation to the School Board
April: Staffing communications
June: Board adopts final budget