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 July includes a Budget Committee and School Board review of the third 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 third draft of the budget for the 15-16 school year. I have attached the third draft of the budget for your review.  Please note the following regarding the third 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 based on the July 1st DPI aid estimate. The final information will be available in October. 
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.
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.
9. The November 2014 referendum borrowings have been completed in Fund 39. 

The changes between the second and third draft of the budget include:
1. An update to Fund 80/10 based on the recommendations for the community services fund. I will discuss this topic in more detail at the meeting. 
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 1st DPI state aid estimate
5. The third draft of the budget includes a small positive balance 

Please let me know if you have any questions on the third 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 Fund 80 for the 15-16 school year. I have attached a document that details the accounting changes that I am recommending for Fund 80.

As we have discussed in previous months, the DPI has developed new guidelines for the use of Fund 80 based on changes made to state law. These new guidelines will require our district to make some changes to how we are using Fund 80 and Fund 10. These new guidelines will require some revenues and expenses to be moved out of Fund 80 and into Fund 10. These new guidelines also provide the opportunity to move some Fund 10 expenses into Fund 80. The major example is middle school athletics.  I am recommending that we move our middle school athletic program from Fund 10 to Fund 80. This accounting move will basically offset the move (within about $5,000) of expenses into Fund 10. Our middle school athletic program will then need to be made available to private school and home schooled students in the community who would like to participate. We expect that participation from these students will be minimal. The School Board policy on middle school athletics will need to be revised to reflect this change. I will discuss this topic in detail at the meeting, and will be seeking feedback from the Budget Committee on this proposed change. I have reviewed all of these proposed changes with the school district audit firm, and they are in agreement that the changes that I am proposing comply with the new DPI guidelines. 

Please let me know if you have any questions on Fund 80. 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.