The purpose of the Business Services Department is to support the school district in meeting its educational goals by accurately accounting for all financial transactions of the school district and by providing timely and friendly service on all business matters.
The school board and the Financial Planning Action Committee of St. Francis Area Schools are committed to maximizing dollars sent to the classroom while
maintaining balanced budgets and sound financial practices.
The school district has been recognized for its sound financial practices by the Minnesota Department of Education (MDE), Moody’s Investors Services, and the auditors of Malloy Montague Karnowski , Radosevich & Co. (MMKR). The school district received its fifth MDE School Finance Award in February 2010 in recognition of outstanding accomplishments in financial management, including compliance with state statutes.
Moody’s upgraded the school district’s credit rating from a medium rating to a favorable credit rating on March 12, 2007. The Moody report cites sound financial practices as one of the underlying reasons for the bond rating upgrade.
The school district has received seven audit reports with no audit findings. Per Ken Malloy, partner of the independent auditing MMKR, less than 20 percent of the clients of MMKR receive audit reports with no audit findings. That the school district has seven school years with no audit findings is due to the daily efforts of the Business Services Department and school and program administrative staff and their commitment to sound financial practices.
Finally, the Worner Study and the Metropolitan Educational Cooperative Service Unit reports offer comparisons of St. Francis Area Schools finances with surrounding school districts and other school districts of similar size. Per these reports, the school district is at the bottom of the charts for revenues per student and in the top percentages for dollars sent to the classroom.