Learn about Hopkins Public Schools' budget-setting process, and provide your input, feedback and comments via a blog. Visit this web page for the latest budget information, news releases, important dates and actions, questions and answers, and other budget-related information.
While Hopkins Public Schools is financially stable, it is not immune from the state's negative economic downturn and current budget woes, which continue to have an impact on residents, businesses, communities, and governments, and create uncertainty in funding for school districts.
Hopkins Public Schools' stability is reflected in a number of ways:
- The district has restored its fund balance.
- The annual audits continue to show that the district is maintaining its fiscal stability and integrity.
- The Hopkins School Board has established a Board Audit Committee that oversees the auditing process, and board members receive regular financial reports from the district's director of business services.
- For the past three years, the district has received the state's financial reporting award, and last year, the district's bond rating was raised.
In accordance with state law and school district policy, the district has built a fund balance, which is comparable to our neighboring school districts. However, the district must be cautious and take care to preserve that fund balance. The state's economic downturn and current budget woes continue, creating uncertainty in funding for school districts. Hopkins' fund balance can disappear quickly with any unexpected decreases in revenue or increases in expenses. The fund balance is a savings account we must hang on to in order to preserve the quality of education that Hopkins provides its students in the face of the very real potential for sudden, unexpected decreases in revenue from the state.
Financial planning is key
With so many uncertainties concerning school funding, financial planning is key. We need to balance available resources against our needs. This includes identifying budget adjustments that will enable us to continue providing an excellence education for our students while ensuring that we sustain our financial stability.
We need your help
You can help us identify innovative solutions, enabling us to remain successful with the resources available. Please use this site to share your ideas on budgeting enhancements and/or reductions that you feel the district should consider. Your feedback and comments will be used by the Hopkins School Board in its decision-making.
Visit this website often to find the latest information on how Hopkins Public Schools is developing its budget.