There was great financial news shared at the November 10th School Board Meeting during the FY25 Audit Report presentation. Fiscal Year 25 ran from July 1, 2024 to June 30, 2025.
The audit report showed the following:
FY25 End of Year General (Unassigned) Fund Balance = $ 2,380,436.00
FY25 End of Year General Fund Balance = $ 3,156,833.00
FY25 End of Year All Funds Fund Balance = $ 3,514,682.00
· * * Thank you to our school staff members for their dedication to our school district, and their hard work which has resulted in the General (Unassigned) Fund Balance to increase by $ 1,576,408.00, the General Fund Balance increase of $ 1,641,903.00 and the Total Fund Balance increase of $ 1,785,876.00 dollars during my time as District Superintendent - Mike Pagel.
Since July 1, 2022, ISD 505 has seen a decline in student enrollment, yet due to cooperation among all school staff members, and right size budgeting and management decisions, the district has not had to deal with budget deficits and the resulting elimination of employees or programs in any of the subsequent years. FY25 saw a 5.1% decrease in total revenues and a 12.49% decrease in total expenses over the previous fiscal year. In FY25 Total Revenues totaled $ 7,019,723.00 and Total Expenditures were $ 6,019,679.00 resulting in a positive change in net position of $ 1,000,044.00. This positive change in net position strengthens the district’s independent viability.
Thank you to all school district residents for their continued support of the work we do at Fulda Public Schools.