Mahtomedi Public Schools School Board Meeting January 27, 2025
Monday, January 27, 2025
Approval of agenda
Approval of consent agenda
Student Representative Report
Superintendent Report
Approval of resolution ratifying the award of sale of refunding bonds series 2025a
Annual Audit Results for year ending June 30, 2024
Areas of Interest (5)
- District secures $1.5 million in taxpayer savings through 2025a bond refunding.
- Annual audit reveals clean financial records but notes minor reporting delays in statutory compliance.
- Audit identifies 'lack of segregation of duties' as a standard operating environment finding.
- Healthy fund balance of 12.2% reported, significantly exceeding the 8% board policy mandate.
- Strategic shift: District utilizing insurance proceeds for roofing repairs and navigating post-pandemic financial headwinds.
Votes (3)
Approve the agenda with flexibility
Moved by Director Regan · Seconded by Director Donna
Approve the consent agenda
Moved by Director Doen · Seconded by Director Peterson
Approval of resolution ratifying the award of sale of refunding bonds series 2025a
Moved by Director Donna · Seconded by Director Peterson
Notable Quotes (2)
we saved about $1.5 million for taxpayers which is outstanding results
we were able to issue an unmodified opinion on that comprehensive financial statement
People (3)
MaStudent RepresentativeReported on student activities including spelling bees, academic honors, and student council events.
Reported on student activities including spelling bees, academic honors, and student council events.
Matthew HammerFinancial AdvisorPresented results for the 2025a bond refunding, noting $1.5M in taxpayer savings.
1 quote
Presented results for the 2025a bond refunding, noting $1.5M in taxpayer savings.
“we saved about $1.5 million for taxpayers which is outstanding results”
Commenting on the 2025a bond refunding sale success.
Jim IkonCPAPresented the annual audit findings, confirming clean/unmodified opinions for the district.
1 quote
Presented the annual audit findings, confirming clean/unmodified opinions for the district.
“we were able to issue an unmodified opinion on that comprehensive financial statement”
Confirming the audit resulted in a clean report for the district.
Places Mentioned
Events & Meetings (1)
- January 27th, 2025, 7:00 p.m. - Regular Board Meeting
Ordinances & Resolutions (1)
Resolution ratifying the award of sale of refunding bonds.