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Committee moves fund-balance policy to policy committee; staff present referendum debt-service scenarios
Summary
The budget committee voted to send a proposed change to the fund-balance policy (setting a 10%–15% minimum operating reserve) to the policy committee for review. Staff also showed debt-service projections tied to the recently approved $175 million referendum and said state budget timing will determine tax-levy clarity for high-school planning.
The Waunakee Community School District Budget Committee on April 8 voted to send a revised fund-balance policy—proposing a 10% to 15% minimum of operating expenses—to the policy committee for review.
Allie (staff member) presented the wording change and said the revision reflected board discussion at a recent retreat. Rebecca (board member) moved to forward the proposed adjustment to the policy committee; the motion was seconded and approved by voice vote.
Staff also briefed the committee on long-term debt-service planning for the March-approved portion of a $175,000,000 referendum. Ali and Steve (staff members) said the district can now ask its financial advisor to produce a range of options tied to cost estimates for new high-school campus scenarios (staff presented example scenarios for $125 million and $75 million projects). However, staff emphasized the need to wait for final state budget figures before finalizing district levy strategy. Staff said Fund 39 (referendum debt service) is part of the picture but Fund 10 (general fund/operational levy) is larger and must be calculated first once state aid is clarified.
Steve (staff member) highlighted the board’s prior decision to limit levy increases to 2.1% per year for the existing referendum debt and cautioned that any new debt would be cumulative; staff showed example columns demonstrating initial higher debt service during the upfront interest phase and a more modest long-term schedule once new debt is fully phased in. Staff told the committee that board-level property tax and levy strategy for a high-school build cannot be meaningfully discussed until the state budget is final and the district’s general-fund outlook is clearer.
Ending: The committee approved sending the 10%–15% fund-balance-range proposal to the policy committee for review and asked staff to develop debt-service scenarios tied to high-school cost options after the state budget is finalized.
