Report Projects Stable Rochester School District Finances
Rochester, MN (KROC-AM News) - A report presented to the Rochester School Board last night indicates the school district’s finances should be fairly stable for the next several years.
The updated five-year general fund financial forecast predicts the district will not need to make significant changes to meet its budget goals through the 2020-2021 school year. The forecast is based on the district maintaining a six-percent reserve fund, the legislature increasing basic school funding two-percent each year, and the overall cost of wage and benefit packages for district employees rising a maximum of three-percent annually.
The long-term outlook projects a $2.2 million deficit in the 2020-2021 that would need to be addressed by increasing revenues and/or budget cuts.