Congratulations the class of 26. 26 earned an average of 3.29 GPA. They collectively applied to 2,023 colleges and universities with a 79% admission rate, which I thought was very exciting, completing an average of five AP and or CIS or honors courses per student.

The proposal on the table is for Minnesota voters to approve a constitutional amendment that would result in public schools receiving 4.5% of the funds annual earnings. And so the the total value of this fund currently is $2.3 billion. ... there are no new taxes involved, and schools would have local control if this amendment was approved.

Dr. Mary Perry Reed, thank you so much for your service to the district. We are certainly going to miss you a lot. I appreciate learning a lot from you and your elegance and just the way that you carry your leadership.

This invoice was paid for out of fund six, which is our capital projects fund. Um, the source of the funds in that account is primarily bond sales. And there is, of course, an invoice affiliated with this line item and I can forward it to the board if there's interest in seeing it.

I also have been impressed with the way that you handled the transition or the non-transition um, of our financials between systems. You were patient, you were diligent, and you made sure that the board got really transparent updates through that entire process.

We are providing a clean unmodified opinion, which is the best that we can give as your auditor, so congratulations on receiving that again here for the year ended again June 30th, 2025.

One new finding that we reported this year and that was a deficiency in the budget reporting process. We noted a component of the overall budget for revenue excluded a piece of the levy there, so just wanted to be sure you know, that we're recommending some improvements to that process to be sure that can those types of um errors can be identified timely.

Yes, we can. So, we're doing work right now to do a lot of cleanup with account codes and just reconciling what we can before the year end. And then as soon as July hits, we'll start the audit process. Emily and I are meeting the first week of July to assign audit tasks and go through that and our goal is to have everything ready 2 weeks prior to when it gets handed off to KTV so that there's no delays from the district side.

I believe that in this report we saw that our ADM increased in 2025 by over 100 pupils. Did I see that correctly? ... So, the net increase in overall fund balance was set was $7 million, but a majority of that surplus were unspent restricted dollars for capital projects levy and long-term facility maintenance. So, after accounting for those significant increases, it was actually a decrease to the unassigned fund balance category, which is free to be spent for anything.

It was really around sustaining the classroom and making sure that the students have adequate classrooms as far as teacher to student ratios, making sure we're following a MOU as well. And just really aligning that student support with our students. The other area is the fund balance stability.

Within construction, we have a budget of 250,000. This is an estimate for interest. We will have a bond sale in FY27. The reason why this is not included in the original budget is we don't know how much we're bonding for yet. So, as we've reconciled FY25 and we're reconciling FY26, that's going to determine how much the LTFM bond recommendation that will come to the board for approval will be.

every single program has an increase in classroom teacher allocations. And so I want the community to know that. I want the board to know that and thank you for that work. It's not easy to make all those decisions.