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.
Click here to find out how much your district or charter has stashed in its savings account.
Idaho’s largest districts often carry over the most money in their fund balances but it’s usually a small percentage of their annual budget. The state’s two largest school districts, West Ada and Boise, top the list with the most savings:
- West Ada saved $50 million, which is 14.9% of its general fund budget
- Boise saved $63.4 million, which is 20% of its general fund budget
- Vallivue saved $22.5 million, which is 14.9% of its general fund budget
- Lake Pend Oreille saved $22.1 million, which is 47.7% of its general fund budget
- Twin Falls saved $18.8 million, which is 22.5% of its general fund budget
One district reported zero savings in 2024, Idaho Virtual Academy. Two more had negative general fund balances: Three Creek Elementary lost $108,133 and Promise Academy lost $47,653.
Data was not available for West Bonner County, which had yet to complete its audit. District leaders said last month that the district would have at most $500,000 total in savings at the end of the school year.
Seven charters and one elementary school district saved more last year than the entirety of their budget.
- iSucceed Virtual Charter School saved $12.9 million (100.2%)
- Liberty Charter saved $4.97 million (114%)
- Gem Prep Online saved $4.89 (118%)
- North Idaho Stem Charter School saved $7.29 million (128%)
- Chief Tahgee Elementary Academy saved $1.4 million (142.2%)
- Prairie Elementary saved $334,468 (149.5%)
- Island Park Charter School saved $546,996 (155.5%)
- Kootenai Bridge Academy saved $10.4 million (336.9%)
Idaho Education News data analyst Randy Schrader contributed to this report.
