This meeting was noticed by way of publication in the Waterford Post on Thursday, July 11, 2024, was posted at the District Office (Door #7) and at Entrance #19, and was published on the District's website. Minutes from the regular board meeting of May 28, 2024 are posted on the District's website.

State statutes require that school boards notify the parents/guardians of students enrolled in the school district of the student academic standards that will be in effect for the school year. Boards must provide the notice annually, prior to the beginning of the school term (September 1). The method of this notification is a local option. The school board must also annually include an item on the agenda of the first school board meeting of the school year (the first board meeting after July 1) that clearly identifies the student academic standards adopted by the board under section 118.30(1g)(a)1 of the state statutes that will be in effect for the school year.  Information is enclosed.

An overview of the seclusion and restraint data for the previous school year is attached. This report to the board is required each year.

At this time the board would like to invite any member of the audience to stand with comments about items of interest or concern that do or do not appear on the agenda this evening. Please begin by stating your name and address. It would be appreciated if you would limit your comments to three minutes so that we can keep the meeting moving in a timely fashion and allow others an opportunity to speak. We ask that you remember that Wisconsin law prohibits us from discussing specific employees or their job performance. Thank you for your support of our school district.

Principal Foster will guide Board and audience members to B114 (former FCS classroom) for a look at the new CNA lab. 

Attached is the updated policy recommended by Neola to ensure the District has board-approved compliant Title IX policies in place by the August 1 federal deadline. The Board is asked to take action to approve the update.  

The SUMMARY document shows financial projections for the Waterford Union School District from 2021-22 to 2028-29. Here are the key points:

1. Enrollment: The district is experiencing a declining student enrollment, with negative growth rates until 2025-26. After that, they project no change (0% growth).
2. Revenue and Expenses:
   • The district's primary revenue (Fund 10) decreases slightly over time.
   • Expenses, however, are generally increasing.
   • This leads to a growing deficit (more money going out than coming in) each year.
3. Fund Balance:
   • This is like the district's savings account.
   • It starts at about 41% of annual operating expenses in 2021-22.
   • It's projected to decrease dramatically, reaching only 8.6% by 2028-29.
4. State Aid and Local Taxes:
   • State aid (Equalization Aid) is projected to decrease over time.
   • The local tax levy (amount collected from property taxes) fluctuates but generally increases.
   • Despite this, the mill rate (tax rate for property owners) is projected to decrease, likely due to increasing property values.

The FUND 39 budget reports that all debt from the 2019 referendum will be paid off by the end of the 2025-26 fiscal year, as both principal and interest payments become $0.  The District's approach to paying down debt with payments scheduled initially through 2039 will save taxpayers another $1MM through a debt defeasance this school year.

The total TAX LEVY is projected to increase from $9,659,365 in 2021-22 to $12,538,120 in 2024-25, primarily due to debt defeasance. After 2024-25, the total levy is expected to decrease significantly to $9,838,498 in 2025-26 and gradually increase to $10,222,038 by 2028-29.

1. Property Valuation:
   • The property valuation is projected to grow steadily from $2,326,193,166 in 2021-22 to $3,398,623,921 by 2028-29.
   • The highest year-over-year growth was between 2022-23 and 2023-24 at 14.6%.
2. Mill Rates:
   • The total mill rate is expected to remain stable at $4.15 per $1,000 of property value from 2021-22 through 2024-25.
   • After 2024-25, the mill rate is projected to decrease significantly to $3.13 in 2025-26 and gradually decline to $3.01 by 2028-29.
3. Impact on Homeowners:
   • For a $100,000 home, the annual school tax is projected to remain at $415 from 2021-22 through 2024-25, then decrease to $313 in 2025-26 and gradually decline to $301 by 2028- 

While taxpayers can expect stable tax rates through 2024-25, a projected significant decrease in the tax levy and mill rate starting in 2025-26 could potentially provide relief to property owners despite the continuing growth in property valuations.

In summary, the school district is facing financial challenges. We are losing students, which means less funding from the state. At the same time, the costs of educating students are going up.  Using savings (fund balance) to cover the difference isn't sustainable in the long run. If this trend continues, the district may need to make some tough decisions about cutting costs or finding new sources of revenue to avoid running out of savings.

I am working with Nexus (facility planning advisor), PMA (financial advisor), Principal Foster, and department heads to review facility needs, update the line items of facility improvement measures, and package them into three or four options. The emphasis is on prioritizing the essential and critical facility needs for the District to address.  

I am calculating the budget and tax impact of each option, and the work is nearing completion. In addition, I will present a draft communication plan in the coming weeks to report on the facility's needs and seek the board's direction and input on the plan.

I desire to ask Principal Foster and department heads to meet with the board and explain their needs at a future meeting.

Reconvene in Executive Session under Wis. State Statutes 19.85 (1) (c) considering employment, promotion, compensation, or performance evaluation data of any public employee over which the governmental body has jurisdiction or exercises responsibility.