January 6, 2020 at 4:00 PM - Budget Committee Meeting

Description:  The purpose of this agenda item is to review the status of the contingency budget for the 2019-20 school year. Administration has previously reviewed a lightning strike at Heritage Elementary School and how that is connected to our property insurance policy and the District contingency budget. In addition, there are additional expenditures occurring at Heritage Elementary School for second grade staffing. We have hired a .50 FTE social worker for the remainder of the school year and are in the process of hiring a 1.0 FTE special education teacher for the remainder of the school year. Overall the estimated contingency budget expenditures are $75,000 from the $100,000 budget.

If you have any questions please contact Steve Summers at stevesummers@waunakee.k12.wi.us or 608-849-2000 ext 8012.

Description:  The purpose of this agenda item is to discuss the Fund 39 Debt Service budget for the 2019-20 school year. The School Board approved a Fund 39 tax levy in October that included $2,127,502 in additional funds to pay down future debt. The goal of the tax levy approved in October was a consistent tax rate from the 2018-19 school year to the 2019-20 school year.

As a result of that decision, the School Board has the opportunity to pay down future debt. Attached please find a preliminary analysis from our financial advisor, PMA. This analysis recommends paying down debt owed in the 2035 calendar year. The total savings to district taxpayers is $3,016,063 compared to the investment of $2,128,637. Administration is requesting Budget Committee feedback on this concept.

If you have any questions please contact Steve Summers at stevesummers@waunakee.k12.wi.us or 608-849-2000 ext 8012.

Description:  The purpose of this agenda item is to review a draft of the budget timeline for the 2020-21 school year. Attached please find a draft timeline. Administration is seeking feedback on the salary increase process surrounding the development of the 2020-21 budget.

If you have any questions please contact Steve Summers at stevesummers@waunakee.k12.wi.us or 608-849-2000 ext 8012.

Description:  The purpose of this agenda item is to discuss Fund 41. Attached please find information on the Fund 41 balance as of 6/30/2019 and the budget for 2019-20. Administration will review these attachments at the meeting. Fund 41 needs to be reviewed in connection to the 2020-21 Capital Maintenance Projects and the Soccer Stadium Project Funding Plan. This topic is also connected to the topic of the reimbursement resolution approved by the School Board in October (see next agenda item).

If you have any questions please contact Steve Summers at stevesummers@waunakee.k12.wi.us or 608-849-2000 ext 8012.

Description:  The purpose of this agenda item is to discuss the Reimbursement Resolution approved by the School Board in October. Attached please find information on the Reimbursement Resolution. Administration will review these attachments at the meeting. The Reimbursement Resolution could be reviewed in connection to the 2020-21 Capital Maintenance Projects, the Soccer Stadium Project Funding Plan, and potential Referendum Capital Maintenance Projects. 

If you have any questions please contact Steve Summers at stevesummers@waunakee.k12.wi.us or 608-849-2000 ext 8012.

Description:  The purpose of this agenda item is to continue the discussion on the financial plan for the Soccer Stadium fundraising project. The Facility Committee met on December 4th to discuss the Soccer Stadium field project. The School Board then reviewed this project at the December 9th Regular Meeting. Since this meeting, administration has requested the timeline to adjust by one month with Facility Committee review of the bids in late February/early March and School Board review at the March 9th School Board meeting.

There are two different topics to discuss regarding the financial plan for the Soccer Stadium. The first topic is a determination of the District's financial commitment to this project and how that will be funded. The second topic relates to the portion of the project paid for by the community fundraising group.

As background information, the Warrior Stadium fundraising financial plan included the use of pledges over time. The Warrior Stadium community fundraising group met with the Budget Committee (towards the end of the fundraising campaign), to discuss options for financing the project. The basic options were a private loan or a public loan through the school district. Private loans carry an above market interest rate due to the risks involved. A loan through the school district required an increase in the cash flow borrowing process that was completed in the fall. The loan through the school district was significantly less expensive overall compared to a private loan. The Budget Committee recommended providing a school district loan to the Warrior Stadium community fundraising group instead of a private loan. Attached please find the details on the amount calculated for this loan at the end of the 18-19 fiscal year. This information was shared with the District's audit firm during the audit process.

The Budget Committee has previously recommended that the Soccer Stadium Community Fundraising Group seek options for a private loan and to bring this information back to the Budget Committee. This information is not available at this time. Administration is interested in having a discussion regarding the District's financial commitment to the project. If there is an interest in being consistent with Warrior Stadium, the District would fund the portion of the project corresponding to a grass field replacement, with the fundraising group funding any upgrades to turf and any other facility improvements. The bidding process will provide the School Board with the actual cost of a grass field replacement as the bidding process is designed for both a grass field and turf field upgrade. Administration would like to have a discussion with the Budget Committee on this topic and the potential for Fund 41 to be utilized as the funding source for the District's financial commitment.

Please contact Steve Summers at stevesummers@waunakee.k12.wi.us or 608-849-2000 ext 8012 if you have any questions.

Description:  The purpose of this agenda item is to discuss the open enrollment capacity for the 2020-2021 school year. Attached please find information information on enrollment projections, classroom staffing projections, and open enrollment capacity. Administration will review these attachments at the meeting and will seek Budget Committee feedback on open enrollment capacity. We have created a base scenario and an alternative scenario for consideration. The discussion points are highlighted in yellow on the attachment. The School Board will approve 2020-2021 open enrollment capacity at the January 13th School Board meeting.

If you have any questions please contact Steve Summers at stevesummers@waunakee.k12.wi.us or 608-849-2000 ext 8012.

Description:  The purpose of this agenda item is to discuss financial advisor services for a potential referendum process. Attached please find information on financial advisor services. Administration will review these attachments at the meeting and will seek Budget Committee feedback on these services.

If you have any questions please contact Steve Summers at stevesummers@waunakee.k12.wi.us or 608-849-2000 ext 8012.

Description:  The purpose of this agenda item is to discuss an operational referendum for a potential referendum process this November. Administration will seek Budget Committee feedback on the process for determining an operational referendum.

If you have any questions please contact Steve Summers at stevesummers@waunakee.k12.wi.us or 608-849-2000 ext 8012.

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