The district’s business and finance department is led by the executive director of finance and business Jim Westrum. The department is responsible for the monetary aspects of operating the school district. Functions in the department include the following:
Student accounting The state of Minnesota requires the district to report student enrollment in great detail. This includes the number of hours each student is enrolled, as well as information about ethnicity, home language spoken, disabilities and much more. Much of this information is required in order to calculate the amount of state aid the district is entitled to under various state programs.Non-Public EducationPlease click here for current resources and annual forms.Accounts payableThe accounts payable staff is responsible for payments for goods and services purchased by the districtPurchasingPurchasing staff are responsible for purchasing goods or services for the district and its schools. Their objective is to obtain the best possible value at the lowest price. State law requires large dollar amount purchases to be made through an open bidding process, which is also managed by the purchasing department.For more information about the department, contact Jim Westrum at 763-745-5023 or Jim.Westrum@wayzata.k12.mn.us.
- Accounts payable and receivable
- Buildings and grounds
- Culinary Express (food service)
- Student accounting
Annual Financial Reports
The District's Fiscal Year 2017 audit was conducted by the firm of Malloy, Montague, Karnowski, Radosevich & Co., P.A. and they presented the results of that audit to the School Board at the November 27, 2017 work session and December 11, 2017 regular meeting. The following reports were shared with the Board:
- Comprehensive Annual Financial Report (CAFR)
- Management Report
- Special Purpose Audit Reports
- Extracurricular Student Activity Accounts Financial Report
The District has been awarded the Certificate of Excellence in Financial Reporting by the Association of School Business Officials for 33 consecutive years. This award signifies the District's commitment to financial accountability and transparency and is only received by a small number of Minnesota school districts. A good source of information is the Management Discussion and Analysis section starting on page 4 of the 2017 Comprehensive Annual Financial Report (see below).
Citizens Finance Advisory Council
The Wayzata Public Schools’ Citizens Financial Advisory Council (CFAC) is a group of citizens who advise the school board and administration on financial issues facing the district. CFAC also acts as a business/community sounding board and a communication link between the school board and the business and residential communities of the district. The committee is chaired by the treasurer of the school board.
CFAC meets once per month and its members generally possess:
- An interest in financial issues that affect the district
- A strong background in finance, business, communications or human resources
- A desire to further the success of the students in the district
Financing Education in Minnesota
The financing of elementary and secondary education in Minnesota is through a combination of state-collect taxes (primarily income and sales) and locally collected property taxes. Revenue to school districts is received in three major categories, all of which are described in greater detail in this booklet created by the state Legislature.For more information about education financing in Minnesota, please read the booklet produced by the Minnesota House of Representatives Fiscal Analysis Department.
Truth in Taxation
The annual Truth in Taxation presentation was part of the December 11, 2017 Wayzata School Board Meeting.