April 15, 2008
From: Supt. Kevin Borg
Debt Elimination Plan for FY 2009
Relevance to District Strategic Plan
Goal 2: Establish a strong financial foundation that supports achievement of district
Demonstrate fiscal responsibility to all stakeholders
Develop and maintain a positive fund balance
Target: $510,000 in net budget reductions for FY 2009
Objective: Eliminate debt, build fund reserve
The Westonka School District’s Strategic Plan calls for the District to demonstrate fiscal
responsibility and develop a positive fund balance in order to meet the overall goal of
establishing a strong financial foundation.
The District entered Statutory Operating Debt in 2007. The District’s plan (“SOD plan”)
to eliminate debt and to develop a 5% fund reserve was approved by the Minnesota Dept.
of Education in early 2008. To achieve the objective of eliminating debt, budget
reductions will be required in FY 2009.
The School Board directed me to develop an FY 2009 debt elimination plan that reflects
student achievement as the Board’s highest priority.
The debt elimination plan for FY 2009: $510,000 in net budget reductions
In February 2008, the School Board approved my recommendation that the budget
reduction goal be set at $510,000 for FY 09, which was $50,000 more than the amount
called for in the SOD plan.
On March 31, 2008, I presented the School Board with a plan calling for $510,000 in net
budget reductions. On April 14, 2008, the Westonka School Board approved the plan.
The FY 2009 reductions are listed on pages 2-3.
FY09 BOARD-APPROVED DEBT ELIMINATION PLAN
Westonka Public Schools
$510,000 Debt Elimination Plan
Fiscal Year 2008-2009
Approved by the Westonka School Board, April 14, 2008
Note: reduction amounts are noted in parentheses. FTE stands for “Full Time Equivalent”.
Reduce staff costs
Teaching staff reductions
Eliminate Mound Westonka High School Family and Consumer Sciences program (.7 FTE)
Adjust other Mound Westonka High School positions to al