Minneapolis Board of Education - Finance Committee
Minneapolis Board of Education1250 W Broadway Ave, Minneapolis, Minnesota 55411 Minneapolis, MN 55411 (Directions)
In a short meeting, the Finance Committee reviewed the current financial statement.
- The statement showed a $66 million fund balance, meeting the board’s expectation of having an eight percent fund balance. There was just over a million dollars in the food service balance, and $1.9 million in community service balance.
- The district has received 6.9 percent of its expected revenue for the year, and has expended 8.3 percent of the budget thus far. The bulk of expenditures are in salaries.
- The district’s budget for this year includes $869 million in revenue and $1 billion in expenditures.
Reporting
Edited and summarized by the Minneapolis - MN Documenters Team
Agency Information
Minneapolis Board of Education
See meeting notes for details
The Minneapolis Board of Education, or School Board, is the elected body responsible for governing finances and policies, establishing and monitoring the strategic direction and goals, and hiring and evaluating the district’s superintendent, who serves as the district’s chief executive.
The School Board is comprised of nine directors, elected by Minneapolis voters, and two student representatives who are appointed. The superintendent also serves as an ex-officio member of the board. Board members serve four-year terms, beginning in January after being elected in November. Each year in January, the school board selects its leadership, which includes a chair, vice-chair, clerk, and treasurer.