There was great financial news shared at the November 10th School Board Meeting with the presentation of the FY25 Audit Report. 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
•Note - The General (Unassigned) Fund Balance has increased by $1,576,408.00, the General Fund Balance has increased by $1,641,903.00 and the Total Fund Balance has seen a $1,785,876.00 dollar increase during Mr. Pagel’s time as District Superintendent – July 1, 2022 to present.
Since July 1, 2022 ISD 505 has seen a decline in student enrollment, yet due to cooperation among all school staff and right size budgeting and management decisions, the district has not had to deal with a budget deficit and the resulting elimination of employees or programs in any of the subsequent years. FY25 saw a 5.1 percent decrease in total revenues and a 12.49 percent 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.
