Minnetonka School District Issues Statement on Debt

A flier being circulated and postings to online news sites accusing the Minnetonka School District of “massive expansion” of debt has prompted the District to issue a statement.

According to the statement titled Correction & Clarification: District Debt, "The District has been asked to provide additional clarity regarding long-term debt, and we are pleased to do so."

"A flier being circulated by a private citizen and postings to online news sites have accused the District of 'massive expansion' of debt, without acknowledging the context of the District’s strategic long-term financial management," the statement continues.

The plain truth, according to the district "is that the district debt per student is four percent below the latest Seven-County Metro Area average." The statement concludes that "Minnetonka School District’s outstanding debt is not out of the ordinary."

The district's comprehensive financial report from 2010 can be found here.

"There has been nearly a 3x increase in debt per capita over the last 10 years," claims Minnetonka School Board candidate Kevin Maire, on his website.