Reports

In accordance with Minnesota Statutes 123B.77, Subd. 4, School Boards are required to approve a budget for the upcoming school year prior to the fiscal year stating on July 1. The following budget summaries depict the financial outlook for the upcoming school year and other important information pertaining to financial management of Shakopee Public Schools.

In accordance with Minnesota Statutes 123B.10, Subd. 1, Every School Board must publish revenue and expenditure budgets for the current year and the actual revenues, expenditures, fund balances for the prior year and projected fund balances for the current year in a form prescribed by the commissioner within one week of the acceptance of the final audit by the Board, or November 30, whichever is earlier.

The Annual Comprehensive Financial Report (ACFR) is commonly referred to as the audit. The school district fiscal year runs from July 1 through June 30. The last step in the fiscal year budget process is to close the financial books and have an audit performed by an external CPA firm. After the audit report is presented to the School Board (typically November/December after the end of the fiscal year) the ACFR/audit will be posted.