ST. CLOUD - The St. Cloud Area District 742 School board approved its 2014-2015 budget on Thursday night.

The district is set to spend $103.6 million during the 2014-2015 school year. A fund of over $114 million is expected for the year. The district plans to retain a fund balance of $12 million.

The anticipated budget is a five percent increase of the $98.7 million in expenditures during the 2013-2014 school year.

Executive Director of Business Services, Kevin Januszewski, reviewed the proposed budget during the meeting. The budget passed unanimously 7-0.