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Budget Funds in the DistrictBudget Funds in the District

The State of Minnesota directs school district to establish different sets of financial accounts or funds to manage school operations.

The broad categories of funds are Operating Funds and Non-Operating Funds.

 

Operating Funds
Fund Name
 Purpose  Main Expenditures
 		 Main Revenues

General Fund

Accounts for most daily operating expenses of the district
 Salaries and benefits
State-set formulas and voter referendums

Food Service Fund
Accounts for expenses of the breakfast and lunch programs
Salaries, benefits, and food expenses Sale of meals—prices set by district

Community Service Fund
Accounts for expenses of educational and recreational programs not part of "regular" K-12 and special education programs. Includes:
  • Early childhood, family education
  • Programs for adults
  • Recreational programs
Salaries, benefits, and purchased services
Sales of services—set by district

Non-Operating Funds
 Fund Name
 		 Purpose  Main Expenditures
 		 Main Revenues

Capital Projects Fund (Building Construction Fund)

 Accounts for revenues and expenses associated with the district's building program
Equipment, building improvements, and technology
 Bond sales—approved by voters

Debt Service Fund

 Accounts for principal and interest payments on the district's voter-approved building bonds Principal and interest on bond payments Voter-approved levy

Trust and Agency Fund

 Accounts for revenues and expenses for scholarships funded by donations Scholarships Gifts and donations

Student Activities Fund

 Accounts for revenues and expenses for student activity accounts. The school board does not control this fund.
 All costs except for salary costs directly related to and identifiable with activity 
Fund raising, special projects, etc. Separate audit done; not under school board control

Internal Service Fund

 Accounts for revenues and expenses for the district's self-insured health plan
 Claims and administrative fees for self-insured health and dental insurance
 Participant and district contributions