June 1, 2016 at 8:00 AM - Budget Committee Meeting

Description:  The purpose of this agenda item is to review the budget timeline. I have attached the budget timeline for your review. The budget timeline for June includes a Budget Committee and School Board review of the second draft of the budget. The third draft of the budget will be reviewed by the Budget Committee and School Board in July. The administration will request approval of the budget at the July School Board meeting following a Budget Hearing. Please let me know if you have any questions on the budget timeline. You can contact me via email at ssummers@waunakee.k12.wi.us or via phone at 849-2491. Thanks.

Description:  The purpose of this agenda item is to review the second draft of the budget for the 16-17 school year. I have attached the second draft of the budget for your review.  The only change between the first and second draft of the budget is:

--A special education speech and language teaching position will be on a 1 year leave, and the funds for this position are being reallocated to a special education teacher to serve the increasing number of students receiving educational services in the Teaching and Learning Center. The details of the special education reallocation plan have been attached to this agenda item. The additional teacher will not be added to the reallocation plan until approved by the School Board. I estimate that $67,000 in funds are available to apply towards this teaching position. 
 
The third draft of the budget in June will at least include:
1. An update to Fund 21 and 80 based on fiscal year to date activity
2. Federal grant allocations
3. State common school fund grant revenues and expenses
4. An update to state equalization aid/property taxes based on the July DPI state aid estimate
5. Staffing update based on additional schedule changes or reallocation proposals

I have also attached the staff budget presentation so that you can see the information that was shared with staff in May regarding the budget process. Please let me know if you have any questions on the second draft of the budget. You can contact me via email at ssummers@waunakee.k12.wi.us or via phone at 849-2491. Thanks.

Description:  The purpose of this agenda item is to review the lease agreements for the 16-17 school year. I have attached the lease agreements for your review.  Dane County has their own formal lease agreement.

The district currently has leases with the Wisconsin Youth Company (K-4 after-school program), Dane County (1 office at the Teaching and Learning Center), and the New Teacher Project (office space at the Teaching and Learning Center).
 
The administrative recommendation is to approve all three leases with the Wisconsin Youth Company lease increasing from $2,350 to $2,400 per building, the Dane County lease continuing at $75 per month, and the New Teacher Project lease continuing at $300 per month.

Please let me know if you have any questions on the lease agreements. You can contact me via email at ssummers@waunakee.k12.wi.us or via phone at 849-2491. Thanks.

Description:  The purpose of this agenda item is to review the projected end of the year balance. The contingency fund for the 15-16 fiscal year is $100,000. We have allocated approximately $43,751 for the special education department. The Board also approved $109,200 to move the portable classroom. We will have an end of the year balance remaining in the referendum operational funds of $914,000. Overall, I project that the end of the year balance will be positive by approximately $700,000-$900,000 (including referendum funds). Please also note that I project that the department/building carry over fund balance will decrease due to projects being completed.

Description:  The purpose of this agenda item is to review  the formal budget change process that will be presented to the School Board for approval in June. The budget change document is attached.

Here are the major budget changes for this year:

1. The Fund 10 and 27 budgets have been reallocated due to the expenditure of 15-16 contingency funds. The net change is $0. $43,751 was moved from Fund 10 to 27 for the special education staffing changes approved by the School Board this year. 
2. The Fund 10 and 27 salary and benefits budgets have been reallocated due to approval of pay increases after the 15-16 budget was approved. The net change is $0.
3. The Fund 99 revenues and expenses have been increased by $60,000 due to increased account activity.
4. The Debt Service Funds have been increased by $10,200,000 to account for the refinancing approved by the School Board in January
5. The Capital Projects Funds have been decreased by $14,000,000 to account for the expenses associated with the November 2014 referendum
Please let me know if you have any questions on the budget changes. You can contact me via email at ssummers@waunakee.k12.wi.us or via phone at 849-2491. Thanks.

Description:  The purpose of this agenda item is to review the fund balance classifications. The School Board is annually required to approve fund balance accounts prior to the close of the fiscal year. I have attached the fund balance accounts that are currently being used. I am not proposing any changes at this time. Please let me know if you have any questions on the fund balance classifications. You can contact me via email at ssummers@waunakee.k12.wi.us or via phone at 849-2491. Thanks.