Lakes International Language Academy has earned its tenth consecutive School Finance Award from the Minnesota Department of Education.
“Strong financial management and careful stewardship of our funds and resources are essential to our success,” LILA CFO Julie Lundgren said in a press release. “Our per-pupil funding is about $2,000 less than a traditional school, because we’re a charter school. LILA’s board of directors, administrators, staff, and parents understand that we must do more with less—and we’re grateful for the contributions everyone makes with their time, goods, or financial gifts.”
To receive the award, the school had to demonstrate indicators of sound fiscal health, including a zero or positive balance in the General Fund. In addition, the MDE also considered the school’s record for timely submission of financial data and compliance with Minnesota statutes as well as LILA’s accuracy in financial reporting.