October 26, 2020 at 5:00 PM - Special Board Meeting
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I. Call to Order
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II. Mid-Year Salary/Wage Adjustment for all Employees (Action Requested)
Description:
In anticipation of there being no budget repair bill for the duration of the State’s current biennial budget, a modified budget has been prepared for consideration. Included in the final 20-21 budget being offered for approval, there is spending that will allow for a mid-year salary/wage increase for all employees as well as the one-time stipend payout that has already been approved and paid. The mid-year increase along with the stipend is very close to the same amount of spending that was anticipated before a budget repair bill was ever discussed. Non-teacher employees will receive mid-year increases equivalent to 2.5% of current pay rates while teachers will earn a salary based on the previously approved single lane compensation plan and corresponding transition plan being implemented mid-year. The annual timeline for teacher compensation originally approved in September 2019 is being proposed for reinstatement with the exception of the 20-21 salary increase being applied mid-year.
Attachments:
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III. Adopt Final 2020-21 Budget (Action Requested)
Description:
Board Book attachments include spreadsheets for the expenditure budget presented in function format and the revenue budget presented in source format as required per Wisconsin State Statutes. A presentation is also included to show many of the highlights of the final budget.
Attachments:
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IV. Adopt Final 2020-21 District Levy (Action Requested)
Description:
Administration recommends a final tax levy of $47,971,350, which is $40,474 more than approved at the Annual Meeting. This difference is due to several variables that are not revealed until after the annual meeting including Wisconsin Private Voucher impact which increased 24.7% over last year. This and various other factors led to a reduction in the variable referendum debt defeasance amount to maintain the same mill rate presented at the Annual Meeting. The result is a final gross mill rate of $10.29 per thousand dollars of equalized valuation which is exactly the proposed mill rate from the Annual Meeting and down 0.50 from last year.
Attachments:
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V. Adjourn
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