On June 13, the Minneapolis Public Schools Board of Education will vote on a budget resolution for the upcoming 2023-24 school year, which includes $97 million in one-time funding. A year from now, when the board prepares to approve a budget for the 2024-25 school year, it will face balancing a budget with significantly less available funding.
The majority of the one-time funding in the 2023-24 budget comes from federal COVID-19 pandemic funds, called ESSER. ESSER funds will make up $92 million in general fund revenue next year, plus an additional $3 million of ESSER funds for programs through the community service fund. ESSER funds must be spent no later than September 30, 2024.
Other sources of one-time funds include $1 million from the assigned general fund balance and $293,272 from the community service fund balance. The district is also incorporating $27 million of vacancy savings. Vacancy savings refers to jobs that the district assumes will not be filled but are included in the budget. The district has said this is based on assuming a 5% vacancy rate.