Star Tribune: November 14, 2007 – 9:38 PM: Ben Goessling: School briefs
ROSEVILLEDistrict's financial situation improving
For the first time in eight years, the Roseville School District is out of statutory operating debt.
The district's 2006-07 financial statements and audit, released Tuesday, show the district in its best financial position since 1999. Greenway is the only school district in the state that had been in statutory operating debt longer.
The term describes a Minnesota Department of Education measure calculated by taking a district's unreserved general fund balance -- money that can be used for unanticipated expenses -- and dividing it by the district's operating expenses. Auditors consider the general fund balance to be the most useful indicator of a district's financial health.
Districts with a deficit greater than 2.5 percent of expenses are in statutory operating debt. There were 20 districts that met the condition statewide in 2005-06, including Roseville.
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