The purpose of this agenda item is to review the budget timeline. I have attached the budget timeline for your review. The administration will complete our staff budget meetings in all of the school buildings on May 7th. The administrative team has been working together to create the first draft of the budget. The budget timeline includes a Budget Committee and School Board review of the first draft of the budget in May. The second draft of the budget will be reviewed by the Budget Committee and School Board in June. 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.

The purpose of this agenda item is to review the proposed student fees for the 15-16 school year. I have attached the proposed fees for your review. The student fees for the 15-16 school year will be presented to the School Board at the May meeting. There are several changes that are proposed. The high school has requested that the family and consumer education food class fees increase from $10 to $15 to reflect higher food costs. The food service fees have been updated to reflect the Version A proposed Fund 50 budget. The K-6 lunch prices are increasing from $2.60 to $2.70. The 7-12 lunch prices are increasing from $2.80 to $2.90. The K-6 increase is required as a part of the Healthy Hunger Free Kids Act. The administration is recommending approval of the attached 15-16 fee schedule. Please let me know if you have any questions on the proposed fee schedule.You can contact me via email at ssummers@waunakee.k12.wi.us or via phone at 849-2491. Thanks.

The purpose of this agenda item is to review the proposed Fund 50 food service budget for the 15-16 school year. I have attached a Version A and Version B proposed budget for your review. The administration is recommending approval of Version A, which includes a .10 increase in the basic lunch costs K-12. The K-6 increase is a requirement of the Healthy Hunger Free Kids Act. We are expecting a deficit for the food service fund for the 14-15 school year, but changes have been made to the 15-16 budget to reflect a goal of a balanced or positive budget. I would like to discuss the potential of reducing some of the district costs that are currently being charged to Fund 50.  

The student fees for the 15-16 school year will be presented to the School Board for approval in May. The second draft of the budget will be updated with the approved food service fees/budget. Please let me know if you have any questions on the proposed 15-16 Fund 50 food service budget. You can contact me via email at ssummers@waunakee.k12.wi.us or via phone at 849-2491. Thanks.

The purpose of this agenda item is to discuss the proposed Fund 80 community service budget for the 15-16 school year. I have attached a question and answer document recently provided by the DPI for your review.

The DPI has been working through a process of updating the accounting requirements for Fund 80. The accounting requirements are effective for the 14-15 fiscal year, based on a change in state law. The DPI has recently provided some guidance on this topic through the attached questions and answers document and through other presentations. We will have to make changes to our Fund 80 accounting based on this guidance. Expenditures and revenues will need to be transferred from Fund 80 to Fund 10. We also might be able to transfer some expenses from Fund 10 to Fund 80. The business office is working with all applicable Fund 80 staff to gather information before making a recommendation for changes.

One idea that we should consider is changing our middle school athletic program from a district Fund 10 program to a community wide Fund 80 program. The requirements are outlined in question and answer 1. Brian Smith is reviewing the implications of this type of change. The DPI is also allowing a one time transfer of Fund 80 funds to Fund 21 that we also might want to consider. I plan to have a recommendation for the second draft of the budget in June. You can contact me via email at ssummers@waunakee.k12.wi.us or via phone at 849-2491. Thanks.

The purpose of this agenda item is to review the first draft of the budget for the 15-16 school year. I have attached the first draft of the budget for your review.  Please note the following regarding the first draft of the budget:

• The revenue cap increase is $0/student based on the 15-17 state budget proposal
  
• The per pupil categorical aid has been reduced by $150/student based on the 15-17 state budget proposal
• The student count is projected to increase by 78 students
• The state equalization aid/property tax increase are projections from the PMA budget planning model
  
• $540,000 has been added to the Fund 10 revenue and expense budget as a result of the November 2014 operational referendum
• No budget requests have been included at this time
• There is a 0% increase budgeted for staff salaries. Staff salary increase decisions will be made in the fall after the state budget has been approved.
  
• The health/dental benefits have been increased by 5%. 
• Page eleven of the budget outlines the teaching positions that have been added to the budget because of increases in enrollment. 
  
• The first draft of the budget includes a negative balance. 

The second draft of the budget in June will at least include:

• An update to Fund 39 based on the final borrowing costs associated with the November 2014 referendum
• An update to Fund 80/10 based on the recommendations for the community services fund
• Grant allocations
• Staffing update based on additional schedule changes or reallocation proposals
• Food service Fund 50 update based on the approved fees
  

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

The purpose of this agenda item is to review the projected end of the year balance. The contingency fund for the 14-15 fiscal year is $100,000. We have allocated approximately $46,835 for additional salary increases and open enrollment special education tuition. The unallocated contingency is $53,165 at this time. We will also have an end of the year balance remaining in the referendum operational funds of approximately $415,000. Overall, I project that the end of the year balance will be positive by approximately $200,000 (excluding referendum funds). Please also note that I project that the department/building carry over fund balance will decrease due to projects being completed in the maintenance, technology, and curriculum departments.

The purpose of this agenda item is to review the actuarial study. Attached please find the actuarial study effective July 1, 2014. 

Our district is required to complete an actuarial study every two fiscal years. The actuarial study calculates the liability and annual costs involved with post employment retirement benefits. The actuarial study includes some positive financial information for the district. First, the annual required contribution to our Fund 73 post employment trust has declined from $545,115 to $516,717. Second, our unfunded liability has declined from $3,746,121 to $2,788,880.  We continue to move forward with a long-term plan to have a fully funded post employment retirement benefit program. Please feel free to contact Steve Summers at ssummers@waunakee.k12.wi.us or 849-2491 if you have any questions. Thanks. 

The purpose of this agenda item is to review an internal controls/best practices project that the business office will be working on. Attached please find a presentation that provides an overview of internal control projects. 

The business office is planning to move forward with a multi-year project to identify, document, revise, and update all business office practices to reflect best practices with strong internal controls. I will share some background on internal controls and how we plan to start this project. Please feel free to contact Steve Summers at ssummers@waunakee.k12.wi.us or 849-2491 if you have any questions. Thanks.