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Sun Prairie Area School District reports full compliance on asset management; highlights capital fund and insurance practices
Summary
Superintendent Brad Saron and Director of Business and Finance Phil Frey told the Board of Education the district met all 20 measures under Operational Expectation 7 (asset management), and reviewed Fund 46 capital reserves, remaining 2019 referendum funds, and insurance procurement and coverage.
At a board meeting, Sun Prairie Area School District Superintendent Brad Saron and Phil Frey, the district's director of business and finance, reported that the district met all 20 measures under Operational Expectation 7, Asset Management. "Out of 20 areas of compliance we're reporting the 20 are in compliance," Saron said.
The district presented the report to the Board of Education to document safeguards for district property and financial assets and to outline ongoing capital planning. Phil Frey said the OE 7 review covers property insurance, errors-and-omissions insurance,…
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