Stewardship: A District Value
Orono Schools is committed to demonstrating constant accountability through responsible planning and use of resources. In an analysis over the past 19 years, audited financial records show the district, on average, controls actual costs to within a half-percent each year compared to the budget that the School Board approves.
The budget as approved for the 2017-18 school year provides historical data and current budget details. The total budget consists of eight funds, each dedicated for a specific purpose.
Budget Categories and Funding Sources
Finances all operations of the district that are not accounted for in one of the special purpose funds. These expenditures include salaries, employee benefits, insurance, instructional materials and textbooks, student transportation, equipment, utilities, cleaning and maintenance. Funding source: state aid, federal grants and property taxes
Maintains a lunch program for students and staff. Funding source: sale of meals; state and federal aid
Services residents in the areas of youth programs, adult education, recreation and community activities.
Funding source: user fees, state aid, federal grants and property taxes
Represents resources available for approved expenditures for capital projects, deferred maintenance, textbooks and technology. Funding source: property taxes
Uses the proceeds from authorized bond and capital projects referenda to finance major construction, remodeling projects, textbooks and technology. Funding source: bond issues approved by district residents
Provides for payment of outstanding bonded debt incurred for constructing and remodeling buildings. Funding source: property taxes
Provides for payment of outstanding OPEB-bonded debt incurred for payment of OPEB liability. Funding source: property taxes
Reports resources set aside and held in an irrevocable trust arrangement for OPEB.
Accounts for the district’s self-funded insurance program. Funding source: transfers from other funds
Escrows money for scholarships. Funding source: outside contributions
State law requires the Board of Education to certify a proposed tax levy by September 30 each year. In November, the Hennepin County auditor will mail notices to property owners indicating the levy proposed by each political jurisdiction.
You can review the District Revenues and Expenditures Budget for FY 2014 and FY 2015 the district completes for the Minnesota Department of Education
Financial records are audited annually by an independent certified public accounting firm. View the most recent audit report (2016). A copy of the audit report is also available for review in the district’s Business Office.