Minneapolis Board of Education - Finance Committee

1250 W Broadway Ave, Minneapolis, Minnesota 55411 Minneapolis, MN 55411 (Directions)

• Reviewed the district’s April 2024 financial report
  • Board members noted an ongoing deficit in the food service section. Staff cited the increased cost of food as a reason for the spending increase.
• Approved a resolution setting the district’s 2024-25 school and fiscal year budget, which the full board will consider next.
  • For the first time, the administration said that in the new budget plan, they would accommodate the board’s desire to save the fifth grade music program and retain three assistant principals out of the eight positions that were being eliminated.
• Approved a resolution setting the 2024-25 fiscal year capital plan and budget, as well as a resolution declaring the board’s intent to issue $85 million in bonds, both of which the full board will consider next.
  • Curt Hartog, director of capital planning, said the district was in the fifth and final year of a five-year capital spending plan. He said upcoming spending will focus on the entrances to schools, air conditioning, and lunchroom facilities.