--- ## author: Jesse Sierks date: D:20171017085700-05'00' --- ## Finance Committee Meeting Tuesday, June 2, 2026 5:45 PM ## Board Assembly Room, 1250 West Broadway Avenue, Minneapolis, Minnesota 55411 ## 1) Financial Statements ## 1)a. April 2026 Financial Statements ## MonthlyFinancial ## Report September 30,2025 *Unaudited* Report ## Prepared By: Finance Division www.mpls.k12.mn.us John B. Davis Education and Service Center | 1250 W. Broadway Ave. Minneapolis, MN 55411 ## Monthly Financial ## Report April30, 2026 *Unaudited* Report ## Prepared By: Finance Division ## Prepared for: Finance Committee Page 1 of 14 ## Monthly Financial Highlights3 ## Revenue and Expenditure Summary4 ## Statement of Revenue, Expenditures, and Change ## in Fund Balance (General Fund) 5 ## General Fund Balance Sheet6 ## Fund Balance Analysis7 ## Cash Position and MSDLAF Fair Market Value8 ## Grant Awards and Expenditures9-10 ## KBEM Budget vs. Actual11 ## Board of Education Budget vs. Actual12 ## Other Government Funds13-14 ## Table of Contents Page 2 of 14 ## FoodCommunity ## GeneralServiceService ## Month Ending balance $62,083,447($2,315,969)$9,076,869 ## General$509,472,502 ## Food Service$15,856,244 ## Community Service$30,919,486 ## General$559,031,114 ## Food Service$20,110,827 ## Community Service$31,653,915 ## Expenditures Year-To-Date Totals Minneapolis Public School began the fiscal year with its unassigned fund balance slightly below the District's goal of 8%. Minneapolis Public School is projected to be in compliance at the end of this fiscal year with the District fund policy. Current fund balance is $62,083,447. District policy dictates that the unassigned portion of General Fund balance be at least 8.0%. Due to the timing of recording revenues & expenditures, fund balance fluctuates throughout the year. ## Ending Fund Balance for Operating Funds ## Month Ended April 30, 2026 General Fund expenditures during the month were $59,080,995 (YTD actuals as a % of budget totaled 76.74%). Expenditure activity in other funds are stated below: As of April 30, 2026 ## Expenditures Highlights for Operating Funds ## Monthly Finance Highlights General Fund revenue during the month was $71,658,924 (YTD actuals as a % of budget totaled 74.41%). Revenue activity in other funds are stated below: ## Revenue Highlights for Operating Funds As of April 30, 2026 ## Revenue Year-To-Date Totals ## GeneralFood Service ## Community ## Service February 26 $91,245,898$3,417,415$2,839,381 March 26 $59,564,266$1,401,696$5,940,279 April 26 $71,658,924$2,110,481$1,362,909 $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 $90,000,000 $100,000,000 ## Past Three Months of Activity - Receipts 0.00%20.00%40.00%60.00%80.00%100.00% ## General ## Food Service ## Community Service ## YTD % of Budget Utilized ## GeneralFood Service ## Community ## Service February 26 $61,160,204$2,213,913$3,212,241 March 26 $63,520,899$2,276,994$3,566,629 April 26 $59,080,995$2,326,515$3,841,285 $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 ## Past Three Months of Activity - Expenditures 74.00%76.00%78.00%80.00%82.00% ## General ## Food Service ## Community Service ## YTD % of Budget Utilized Page 3 of 14 YTD% of PY YTDPY % of ## FundBudgetActualsBudgetActualsBudget ## General Fund ## Local Sources 190,564,110 101,901,557 53.5%85,984,858 60.1% ## State Sources 452,629,897 371,733,128 82.1%337,347,523 105.8% ## Federal Sources58,931,642 35,617,183 60.4%32,593,603 22.2% Other- 220,635 -1,727,317 8.3% Total702,125,649 509,472,502 72.6%457,653,300 72.6% ## Operating Funds ## Food Service Fund23,605,895 15,856,244 67.2%13,574,516 61.9% Community Service Fund35,272,531 30,919,486 87.7%29,104,926 89.5% ## Non-Operating Funds Building Construction Fund*90,004,525 96,714,524 107.5%93,902,122 109.9% ## Debt Service Fund* 101,248,920 88,369,762 87.3%60,228,320 60.6% ## Total All Funds952,257,520 741,332,519 77.9%654,463,184 75.3% *For the purposes of this report, other financing sources are reported as revenue YTD% of PY YTDPY % of ## FundBudgetActualsBudgetActualsBudget ## General Fund Salaries390,163,347 331,877,037 85.1%330,160,230 82.3% Benefits161,179,185 115,578,228 71.7%110,215,056 75.0% ## Purchased Services115,438,805 84,359,234 73.1%93,396,984 78.7% Supplies & Materials42,218,703 25,216,258 59.7%22,016,058 57.0% ## Capital Expenditures9,708,762 549,829 5.7%332,138 11.0% Other Expenses9,807,869 1,450,529 14.8%996,030 47.0% Total728,516,671 559,031,114 76.7%557,116,496 78.4% ## Operating Funds ## Food Service Fund25,052,086 20,110,827 80.3%22,446,171 84.0% Community Service Fund38,877,352 31,653,915 81.4%30,176,735 85.1% ## Non-Operating Funds ## Building Construction Fund155,417,464 63,309,794 40.7%67,054,863 42.9% Debt Service Fund*101,248,920 117,191,704 115.7%108,768,735 109.4% Total All Funds1,049,112,493 791,297,355 75.4%785,563,001 76.4% ## Expenditure Summary ## YTD General Fund Revenue & Expenditure by Type ## Minneapolis Public Schools ## Special School District No. 1 ## Revenue and Expenditure Summary ## Month Ended April 30, 2026 ## Revenue Summary *For the purposes of this report, other financing uses are included in expenditures. ## YTD General Expenditure by Type ## SalariesBenefitsPurchased Services ## Supplies & MaterialsCapital ExpendituresOther Expenses ## YTD General Revenue by Type ## Local SourcesState Sources ## Federal SourcesOther Page 4 of 14 ## YTD% of PY YTD PY % of ## Budget ## ActualsBudgetActualsBudget ## Revenues Local sources Property taxes165,487,498 82,377,280 49.8%68,854,175 48.1% Earnings on investments2,000,000 3,260,282 163.0%3,348,666 167.4% Other local and county revenues23,076,612 16,263,995 70.5%13,782,017 73.3% Revenue from state sources452,629,897 371,733,128 82.1%337,347,523 105.8% Revenue from federal sources58,931,642 35,617,183 60.4%32,593,603 22.2% Sale and other conversion of assets- 220,635 -1,727,317 0.0% ## Total Revenues702,125,649 509,472,502 72.6%457,653,300 72.6% ## Expenditures ## Current Administration22,423,934 17,519,086 78.1% 18,281,388 62.9% District support services57,261,545 38,667,244 67.5%35,712,670 65.0% Elementary and secondary regular278,908,084 231,631,132 83.0%227,075,355 79.6% Vocational education instruction6,264,203 3,130,422 50.0% 5,239,041 66.3% Special education instruction156,003,910 119,135,462 76.4%114,738,845 80.0% Community education and services- - Instructional support services47,125,980 34,291,033 72.8%33,944,761 76.6% Pupil support services106,247,188 79,650,523 75.0%86,225,462 88.7% Sites and buildings42,312,601 32,529,994 76.9%32,459,178 69.7% Fiscal and other fixed cost programs2,156,456 1,926,389 89.3%3,107,659 268.3% ## Capital Outlay ## Administration- 1,271 -- 0.0% District support services- - - 17,214 0.0% Elementary and secondary regular- 331,538 -123,809 63.3% Vocational education instruction- - -32,812 0.0% Special education instruction- 48,175 -141,638 0.0% Instructional support services- 23,767 9,483 160.4% Pupil support services- - -2,482 0.0% Sites and buildings9,812,770 145,078 1.5%4,700 9.2% Total Expenditures728,516,671 559,031,113 76.7%557,116,496 78.4% ## Excess of Revenues Over (Under) Expenditures(26,391,022) (49,558,611) (99,463,196) ## Other Financing Sources Lease financing- - 0.0%0.0% Total Other Financing Sources- - - - - Net Change in Fund Balances(26,391,022) (49,558,611) (99,463,196) ## Fund Balance June 30, 2025111,642,059 April 30, 202662,083,447 ## Minneapolis Public Schools ## Special School District No. 1 ## Statement of Revenues, Expenditures, and Changes in Fund Balance ## Budget and Actual - General Fund ## Month Ended April 30, 2026 Page 5 of 14 ## AssetsCurrent YearPrior Year Cash and investments113,267,034 88,513,805 Cash and investments held by trustee - - Due from food service fund (negative cash)7,733,111 8,871,653 ## Receivables Current property taxes receivable85,084,251 70,457,406 Delinquent property taxes receivable 1,581,763 1,453,953 Due from other Minnesota school districts49,187 12,680 Due from the Minnesota Department of Education7,240,080 1,153,431 Due from the federal government through MDE22,541,542 29,325,664 Due from the federal government directly 81,670 1,109,225 Due from other governmental units2,100,228 2,666,015 Other receivables3,930,488 3,275,163 Prepaid items4,838,400 - Inventory124,384 132,726 Total assets248,572,139 206,971,720 ## Liabilities Salaries and compensated absences payable27,486,977 24,994,964 Payroll deductions and contributions payable3,886,776 (469,368) Accounts and contracts payable5,969,161 6,940,731 Due to other governmental units(26,759) (22,565) Unearned revenue16,528 - Total liabilities37,332,684 31,443,762 ## Deferred Inflows of Resources Property taxes levied for subsquent expenditures147,157,024 121,244,325 Unavailable revenue - delinquent property taxes1,581,763 1,453,953 Deferred Inflow - lease revenue417,222 67,438 Total deferred inflows of resources149,156,008 122,765,715 ## Fund Balances Total fund balances62,083,447 52,762,243 Total liabilities, deferred inflows of resources, and fund balances 248,572,139 206,971,720 Cash and investments are net of salaries & compensated wages payable ## Minneapolis Public Schools ## Special School District No. 1 ## General Fund Balance Sheet April 30, 2026 Page 6 of 14 Overview of fund balance types Nonspendable – assets that are inherently Nonspendable (inventory and prepaid expenditures). Restricted – amounts that are subject to externally enforceable legal purpose restrictions. Assigned – amounts that are subject to a purpose constraint that represents an intended use established by The District Unassigned – represents the residual classification for the government’s general fund District policy requires that the unassigned portion of General Fund balance be at least 8.0% of budgeted expenditures. The above graphs display total fund balance, unassigned in a portion of the overall fund balance of MPS. ## General Fund - Fund Balance Analysis - 5.0 10.0 15.0 May 2025June 2025July 2025August 2025September 2025 October 2025November 2025 ## December 2026 January 2026February 2026March 2026April 2026 10.0 7.7 7.9 11.6 10.5 11.0 14.7 12.5 13.2 11.8 9.2 8.5 Fund Balance as a % of budgeted expenditures ## Month End Reporting Period Total fund balance as % of budgeted expenditures 025,000,00050,000,00075,000,000100,000,000125,000,000150,000,000 May 2025 June 2025 July 2025 August 2025 September 2025 October 2025 November 2025 December 2026 January 2026 February 2026 March 2026 April 2026 ## Total General Fund Balance Page 7 of 14 2026 ## MSDLAF Investment Accounts*April ## MSDLAF ## General Investments16,620,687 ## General99,213,811 ## Payroll17,335,896 2017B GO Bonds (LTFM)7 2017C COP's3,045 ## 2019A GO Bonds545 2019B GO Bonds (LTFM)4,744,918 ## 2020B GO Bonds7,553 2020C GO Bonds (LTFM)7,972,232 ## 2021B GO Bonds11,578 2021C GO Bonds (LTFM)2,578,420 ## 2022A GO Bonds3,821,888 2022B GO Bonds (LTFM)9,183,934 ## 2023A GO Bonds15,167,277 ## 2023B GO Bonds21,310,659 ## 2024A GO Bonds36,089,317 ## 2024B GO BOND (LTFM)15,296,952 ## 2025A GO Bonds48,920,050 2025B GO Bonds (LTFM)42,714,979 ## 2025C GO Bonds243 ## Total Fair Market Value340,993,993 ## Non MSDLAF Accounts* ## US Bank- ## Wells Fargo732,227 ## Cash with Fiscal Agents44,538,660 ## Student Activity Accounts693,406 ## Total Non MSDLAF45,964,292 ## Total Cash & Investments386,958,286 *Note 1: These amounts represent cash balances and do not take into account pending transactions (outstanding checks, deposits in transit, etc.). *Note 2: Cash & Investments balances for non-governmental funds may also be displayed above, however aren't included in cash on hand table. *Note 3: All investments held at the Minnesota School District Liquid Asset Fund adhere to MPS investment Policy 3296 & 3296A, as well as state & federal guidelines. ## Month End Governmental Funds Cash and Investments ## Governmental FundsBalances ## Operating Funds ## General$113,267,034 ## Food Service$0 ## Community Service$11,905,486 ## Non-Operating Funds ## Building Construction (A)$254,197,268 ## Debt Service$51,697,693 ## Minneapolis Public Schools ## Special School District No. 1 Cash Position & Minnesota School District Liquid Asset Fund Investment Fair Market Values ## Month Ended April 30, 2026 (A) A significant portion of The District's Cash and Investment is in the building construction fund. This funding must be spent on capital projects. ## MSDLAF Sector Allocation ## US Treasury Bond/Note ## Local Government Investment Pool ## Commercial Paper ## MSDLAF Portfolio Summary ## MSDLAF+ Liquid Class ## MSDLAF+ MAX Class ## MSDLAF Managed Account - 50,000,000 100,000,000 150,000,000 200,000,000 250,000,000 1 ## MSDLAF Bonded vs Non-Bonded Account ## MSDLAF Non-Bonded AccountMSDLAF Bonded Account ## Governmental Funds C & I ## GeneralFood Service ## Community ServiceBuilding Construction (A) ## Debt Service Page 8 of 14 ## Grant Sponsor ## Current Grant ## Budget ## Current ## Expenditures Assistance League of Minneapolis3,000 - Boise State University Office of Sponsored Programs384,346 - Bush Foundation7,984 7,227 Cargill Foundation582,675 409,233 ## City of Minneapolis 907,810 472,663 Corporation for Public Broadcasting165,732 108,342 ## Greater Twin Cities United Way 43,781 7,932 ## Hennepin County1,055,848 418,529 Jay & Rose Phillips Family Foundation106,765 21,447 JD Graves Foundation20,000 1,964 Joyce Foundation5,667 5,667 ## Life Time Foundation 14,350 3,644 ## Minneapolis Foundation1,287,304 887,287 ## Minneapolis Public Housing Authority 749,993 589,586 ## Minnesota Department of Administration162,889 52,122 ## Minnesota Department of Agriculture31,454 3,000 ## Minnesota Department of Education56,117,053 35,374,106 Minnesota Department of Human Services211,371 128,401 Minnesota Department of Transportation34,661 29,914 Minnesota Indian Affairs Council898,914 254,793 Minnesota Office of Higher Education588,073 407,819 Minnesota Professional Educators Licensing and Standards Board270,366 75,370 Minnesota State Arts Board93,050 29,200 Minnesota State High School League Found8,383 3,727 ## Minnesota Vikings Football492,985 9,498 MN Department of Commerce784,656 - MN Department of Labor and Industry142,088 19,193 MN Dept of Natural Resources19,000 3,936 Northside Achievement Zone613,873 368,586 Outride Fund5,115 522 PrairieCare Fund4,708 3,391 ## PROJECT LEAD THE WAY, INC16,850 7,053 Qatar Foundation International67,163 59,663 Sauer Family Foundation95,000 71,250 Special Olympics Minnesota13,161 13,146 ## Think Small1,338,024 1,086,508 ## Twin Cities Opera Guild Inc 15,004 9,646 Twins Community Fund44,369 15,852 U S Department of Education3,427,688 2,403,588 Wells Fargo Foundation Minnesota40,000 33,568 ## YMCA954,682 673,394 Youth Coordination Board360,296 301,228 ## Grand Total72,186,131 44,372,000 ## Minneapolis Public Schools ## Special School District No. 1 ## Grant Awards and Expenditures ## Month Ended April 30, 2026 Page 9 of 14 ## Month Ended April 30, 2026 ## Minneapolis Public Schools ## Special School District No. 1 ## Grant Utilization for Current Fiscal Year Award 0%10%20%30%40%50%60%70%80%90%100% ## ASSISTANCE LEAGUE OF MINNEAPOLIS ## BOISE STATE UNIVERSITY OFFICE OF SPONSORED PROGRAMS ## BUSH FOUNDATION ## CARGILL FOUNDATION ## CITY OF MINNEAPOLIS ## CORPORATION FOR PUBLIC BROADCASTING ## GREATER TWIN CITIES UNITED WAY ## HENNEPIN COUNTY ## JAY & ROSE PHILLIPS FAMILY FOUNDATION ## JD GRAVES FOUNDATION ## JOYCE FOUNDATION ## LIFE TIME FOUNDATION ## MINNEAPOLIS FOUNDATION ## MINNEAPOLIS PUBLIC HOUSING AUTHORITY ## MINNESOTA DEPARTMENT OF ADMINISTRATION ## MINNESOTA DEPARTMENT OF AGRICULTURE ## MINNESOTA DEPARTMENT OF EDUCATION ## MINNESOTA DEPARTMENT OF HUMAN SERVICES ## MINNESOTA DEPARTMENT OF TRANSPORTATION ## MINNESOTA INDIAN AFFAIRS COUNCIL ## MINNESOTA OFFICE OF HIGHER EDUCATION ## MINNESOTA PROFESSIONAL EDUCATORS LICENSING AND STANDARDS ... ## MINNESOTA STATE ARTS BOARD ## MINNESOTA STATE HIGH SCHOOL LEAGUE FOUND ## MINNESOTA VIKINGS FOOTBALL ## MN DEPARTMENT OF COMMERCE ## MN DEPARTMENT OF LABOR AND INDUSTRY ## MN DEPT OF NATURAL RESOURCES ## NORTHSIDE ACHIEVEMENT ZONE ## OUTRIDE FUND ## PRAIRIECARE FUND ## PROJECT LEAD THE WAY, INC ## QATAR FOUNDATION INTERNATIONAL ## SAUER FAMILY FOUNDATION ## SPECIAL OLYMPICS MINNESOTA ## THINK SMALL ## TWIN CITIES OPERA GUILD INC ## TWINS COMMUNITY FUND ## U S DEPARTMENT OF EDUCATION ## WELLS FARGO FOUNDATION MINNESOTA ## YMCA ## YOUTH COORDINATION BOARD ## GRANT UTILIZED FOR CURRENT FISCAL YEAR AWARD ## GRANT SPONSOR ## Current Grant Budget ## Current Expenditures Page 10 of 14 YTD% of PY YTDPY % of ## Fund ## BudgetActualsBudgetActuals ## Budget Salaries775,603 623,289 80.4%719,425 71.0% Extended time46,140 35,904 77.8%31,712 61.6% Benefits and deductions317,196 214,308 67.6% 241,526 60.2% Contracted services312,062 191,835 61.5%425,943 62.2% ## Supplies39,754 6,979 17.6%114,735 71.0% Equipment- - -- ## Miscellaneous8,160 7,770 95.2%10,167 51.4% Total1,498,915 1,080,085 72.1% 1,543,507 66.2% ## YTD ## Actuals Local sources990,273 State sources194,296 Federal sources- ## YTD Revenue Received1,184,569 ## Pie Chart Displaying Breakdown of Revenue & Expenditure by Type ## Month Ended April 30, 2026 ## Minneapolis Public Schools ## Special School District No. 1 ## Budget and Actual Expenditures - KBEM ## Month Ended April 30, 2026 ## Revenue Breakdown - KBEM ## YTD Expenditure by Type -KBEM SalariesExtended time Benefits and deductionsContracted services ## SuppliesEquipment ## Miscellaneous ## YTD Revenue by Type - KBEM Local sourcesState sourcesFederal sources Page 11 of 14 YTD% of PY YTDPY % of ## Fund ## BudgetActualsBudgetActuals ## Budget Salaries294,000 248,036 84.4%146,538 79.6% Extended time- 5,113 -416 0.0% Benefits and deductions76,400 50,747 66.4%12,091 21.2% Contracted services227,500 92,115 40.5%85,993 39.1% ## Supplies13,000 2,261 17.4%7,498 33.8% Equipment- - -- ## Miscellaneous- -250 Total610,900 398,272 65.2% 252,787 52.3% ## Pie Chart Displaying Breakdown of Expenditure by Type ## Minneapolis Public Schools ## Special School District No. 1 ## Budget and Actual Expenditures - Board of Education ## Month Ended April 30, 2026 ## YTD Expenditure by Type -Board SalariesExtended timeBenefits and deductions Contracted servicesSuppliesEquipment ## Miscellaneous Page 12 of 14 ## FoodCommunityBuildingDebt ## ServiceServiceConstructionService ## Revenues Local sources74,553 16,524,597 6,181,070 50,136,190 Revenue from state sources4,269,879 13,711,651 - 10,118,765 Revenue from federal sources11,199,598 683,238 - - ## Other Revenue312,214 - - - ## Total Revenues15,856,244 30,919,486 6,181,070 60,254,955 ## Expenditures ## Current20,105,840 31,653,915 40,301,909 - ## Capital Outlay4,987 - 23,007,885 - ## Debt Service- - - 117,191,704 ## Total Expenditures20,110,827 31,653,915 63,309,794 117,191,704 ## Excess of Revenues Over (Under) Expenditures(4,254,584) (734,429) (57,128,724) (56,936,749) ## Other Financing Sources ## Total Other Financing Sources- - 90,533,454 105,684 ## Net Change in Fund Balances(4,254,584) (734,429) 33,404,730 (56,831,065) ## Fund Balances June 30, 20251,938,615 9,811,298 219,192,523 56,884,326 April 30, 2026(2,315,969) 9,076,869 252,597,253 53,261 *The activity represented below is for the current fiscal year* ## Statement of Revenues, Expenditures, and ## Special School District No. 1 ## Minneapolis Public Schools Changes in Fund Balances - Governmental Funds (Non - General Fund) ## Month Ended April 30, 2026 ## Operating FundsNon-Operating Funds Page 13 of 14 ## Food ## CommunityBuildingDebt ## AssetsServiceServiceConstructionService Cash and investments- 11,905,486 254,197,268 51,697,693 Receivables- 2,811,448 - 50,528,110 Due from other gov entities3,779,924 - - - Prepaid items- - - - Inventory1,938,615 - - - Total assets5,718,539 14,716,934 254,197,268 102,225,804 ## Liabilities Due to general fund (negative cash)7,733,111 - - - Salaries and benefits payable- - - - Accounts, contracts, and DTOG payable301,398 174,493 1,600,019 - Unearned revenue- - - - Total liabilities8,034,509 174,493 1,600,019 - ## Deferred Inflows of Resources Total deferred inflows of resources- 5,465,571 - 102,172,542 ## Fund Balances ## Nonspendable1,938,615 - - - Restricted(4,254,584) 9,076,869 252,597,253 53,261 ## Assigned- - - - ## Unassigned- - - - Total fund balances(2,315,969) 9,076,869 252,597,253 53,261 Total liabilities, deferred inflows of resources, and fund balances 5,718,539 14,716,934 254,197,268 102,225,804 ## Operating FundsNon-Operating Funds ## Minneapolis Public Schools ## Special School District No. 1 ## Balance Sheet - Governmental Funds (Non - General Fund) April 30, 2026 *The activity represented below is a snapshot as of month end* Page 14 of 14