123B.10 PUBLICATION OF FINANCIAL INFORMATION.
Subdivision 1. Budgets.
Every board must publish revenue and expenditure budgets for the
current year and the actual revenues, expenditures, fund balances for the prior year and projected
fund balances for the current year in a form prescribed by the commissioner within one week of
the acceptance of the final audit by the board, or November 30, whichever is earlier. The forms
prescribed must be designed so that year to year comparisons of revenue, expenditures and fund
balances can be made. These budgets, reports of revenue, expenditures and fund balances must
be published in a qualified newspaper of general circulation in the district or on the district's
official Web site. If published on the district's official Web site, the district must also publish an
announcement in a qualified newspaper of general circulation in the district that includes the
Internet address where the information has been posted.
Subd. 2. Debt summary.
The board must also publish at the same time a summary of bonds
outstanding, paid, and sold; a summary of orders not paid for want of funds; certificates of
indebtedness for the year ending June 30; the statutory operating debt of the district as defined
and certified pursuant to section
; and the balance amount of the reserved fund balance
reserve account for purposes of statutory operating debt reduction established pursuant to sections
Subd. 3. Budget inspection.
A statement must be included in the publication that the
complete budget in detail may be inspected by any resident of the district upon request to the
chief school administrator.
Subd. 4. Cost per pupil.
The board must also publish at the same time the average cost
per pupil in average daily membership educated in that district in the preceding year. This
computation must be made exclusive of debt service or capital outlay costs.
History: 1969 c 1011 s 1-3; 1971 c 690 s 1; 1977 c 447 art 7 s 17-19; 1984 c 543 s 7;
1Sp1986 c 1 art 9 s 1; 1987 c 398 art 7 s 42; 1991 c 130 s 37; 1992 c 499 art 12 s 29; 1993 c 224
art 13 s 28; art 14 s 7; 1993 c 374 s 24; 1995 c 212 art 4 s 64; 1998 c 397 art 6 s 106,124; art
11 s 3; 2006 c 263 art 4 s 1