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.

The purpose of this agenda item is to review the second draft of the budget for the 15-16 school year. I have attached the second draft of the budget for your review.  Please note the following regarding the second draft of the budget:
1. The revenue cap increase is $0/student based on the 15-17 state budget proposal
2. The student count is projected to increase by 78 students
3. The state equalization aid/property tax increase are projections from the PMA budget planning model 
4. $540,000 has been added to the Fund 10 revenue and expense budget as a result of the November 2014 operational referendum
5. No budget requests have been included at this time
6. 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.
7. The health/dental benefits have been increased by 5%. 
8. Page eleven of the budget outlines the teaching positions that have been added to the budget because of increases in enrollment. 
The changes between the first and second draft of the budget are:
1. The per pupil categorical aid has been restored by $150/student based on the Joint Finance Committee budget proposal
2. An update to Fund 39 based on the final borrowing costs associated with the November 2014 referendum
3. Food service Fund 50 update based on the approved fees from the May BOE meeting
4. The staffing changes on page 11 have been updated to reflect a student services department staffing reallocation plan. The details of this plan have been attached for your review. 
5. The second draft of the budget includes a small positive balance compared to the negative balance from the first draft of the budget
The third draft of the budget in June will at least include:
1. An update to Fund 80/10 based on the recommendations for the community services fund
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

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.

The purpose of this agenda item is to review the lease agreements for the 15-16 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 101 School Drive), and the New Teacher Project (office space at 101 School Drive).
 
The administrative recommendation is to approve all three leases with the Wisconsin Youth Company lease increasing from $2,300 to $2,350 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.

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 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 14-15 contingency funds. The net change is $0.
2. The Fund 10 and 27 salary and benefits budgets have been reallocated due to approval of pay increases during the months of December/January after the 14-15 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 to account for the refinancing associated with the November 2014 referendum
5. The Capital Projects Funds have been increased to account for the borrowings 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.

The purpose of this agenda item is to review the fund balance classifications. The School Board is annually required to approved 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.

There are no items to discuss this month.