The Free Press, Mankato, MN

Local News

February 27, 2010

Mankato schools’ financial record recognized

District receives eighth award

By Tanner Kent The Free Press

MANKATO — Mankato Area Public Schools received a unique commendation from the state department of education this week.

So unique, in fact, that Mankato is the only recipient in the state.

Since 2003, Mankato and Edina have been the only two districts in Minnesota to receive the state’s School Finance Award every year since its inception.

But this year, Edina dropped off the list. And when recipient schools were announced, a “special recognition” was extended to Mankato, the only school system to register a perfect record of eight finance awards in eight years.

Jerry Kolander, district business manager, said the application-based award is an important one for school districts, which operate with taxpayer money and have an obligation to the public.

“It’s a nice recognition,” Kolander said, “and it shows we have sound fiscal policies.”

To receive the award, districts must demonstrate compliance with several accounting recommendations, including unreserved fund balances of zero or better and written policies regarding reserve funds and deficit spending.

The award also calls for districts to meet state-mandated deadlines for reporting budget information and for school board members and business staff to receive financial training.

About the application process, Kolander said, “It’s gotten more complicated. But that’s good because it’s more accountable.”

Since 2003, the number of districts to receive the award has increased each year.

The first year, about 2 percent of all reporting units were awarded (service cooperatives and specialty education agencies can also apply, along with public and charter schools).

In 2010, slightly more than 22 percent of all units received the award. About 35 percent of all charter schools received the award, compared to about 20 percent of traditional school districts.

Other regional winners of this year’s finance award include: Lafayette Public Charter School, LeSueur-Henderson, RBA Public Charter School (in Mankato), Waseca and Waterville-Elysian-Morristown. The Region 9 South Central Service Cooperative was also awarded.

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