Business ServicesOverviewThe ISD 279 Business Office is responsible for compiling the district budget, completion of the levy process, assisting with our annual financial audit, processing payables, receivables and payroll. The department uses conservative assumptions, projections, and budgeting practices to manage the district's finances. For example, the conservative approach is applied to enrollment projections, state aid revenue projections, and estimates of property tax delinquencies and abatements. In accordance with state law, ISD 279 has an independent audit performed each year. ISD 279 contracts with the Independent auditing firm MMKR & Co., P.A. to complete the audit. ISD 279 annually submits its financial audited report to the Association of School Business Offices International for consideration for the Certificate of Excellence in Financial Reporting. ISD 279 received this award as a result of its initial submission in fiscal 1989-1990 and for all subsequent submissions on an annual basis since then. The Business Office expects to continue to earn the recognition that accompanies the standards of accuracy and thoroughness of the Certificate of Excellence program. ISD 279 early implemented Governmental Accounting Standards Board (GASB) Statement No. 34 for fiscal year 2001. ISD 279 was the first school district in Minnesota to implement GASB 34. This statement redesigns the financial statement presentation of school districts to more closely resemble that of a business entity. Annually in June, the School Board adopts a budget for the following fiscal year for the General, Food Service, Community Service, and Debt Service Fund. An annual budget is not adopted for the Capital Projects Ð Building Construction Fund because project length financial plans are adopted in accordance with bond issue authorization. For more information, please contact: Kelly Benusa, Director of Business Services |
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