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ISD #719 Prior Lake-Savage Area Schools. Audit Examination EDAD 640 Meghan Potter. Where is PL?. School District Background. The combined population of the cities of Prior Lake (24,250) and Savage (27,686) is 51,936. Three percent increase in enrollment over the last five years.
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ISD #719Prior Lake-Savage Area Schools Audit Examination EDAD 640 Meghan Potter
School District Background • The combined population of the cities of Prior Lake (24,250) and Savage (27,686) is 51,936. • Three percent increase in enrollment over the last five years. • Total enrollment for 2010 was 6,975 compared to 4,888 in 2001. • Prior Lake High School was built in 2003 and has the capacity to hold 2,016 students.
School District Background • There are approximately 2,400 students currently in the high school. • Declining enrollment is seen in the 2011 kindergarten class. • In November 2008, the district’s voters approved a 10 year operating referendum renewal along with a $210 per pupil unit increase. • This increased was used to open Redtail Ridge Elementary School, reopen the Twin Oaks Middle School pool, and hire 11 staff members.
Audit Examination • Total General Fund Expenditures: $60,490,198 • General Fund Revenues: • Total: $62,210,830 • Local: $12,625,781 (20%) • State: $43,572,121 (70%) • Federal: $6,012,928 (10%)
Audit Examination • Previous Year General Fund Balance: • $2,935,042 • Current Year General Fund Balance: • $4,655,674 • General Fund Unreserved/Undesignated Fund Balance: • $1,543,568 • General Fund Reserved Fund Balance • $1,092,663
Audit Examination • General Obligation Bonded Debt: • $133,350,000 • Food Service Fund Budget Balance: • $390,073 • Community Service Fund Budget Balance: • $774,838 • Capital Assets, Net Depreciated: • Land and Construction: $12,503,082 • Other: $140,060,425 $152,563,507