"Idaho school districts and charters stashed more than $712 million into savings last school year, according to an Idaho Education News review of 2024 audits.
The saved money, labeled “fund balances” on audits, was not spent during the 2023-24 school year and therefore carried over to this school year’s budget.
Just three districts and charters of 187 either had no savings or a negative fund balance.
The latest savings reflect a statewide trend of growing fund balances:
2019-2020 fund balance: $395 million
2020-2021 fund balance: $444 million
2021-2022 fund balance: $519 million
2022-2023 fund balance: $565 million
2023-2024 fund balance: $712 million
Districts stash money in a fund balance, just as people do in savings accounts. They use the money for emergencies or unplanned expenses, such as contracts that run over budget. Or if state funding doesn’t match their needs.
This data comes from the financial audits submitted to the state by districts and charters as of June 30, 2024. Some of the money in the fund balances could be assigned or restricted.
Idaho allows district and charters to set aside annual contingency funds up to 5% of annual budgets. Unused contingency dollars count as income at the end of the year. Debate over how much districts should save has lingered for years."