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Board adopts fund-balance range and administrative purchasing changes
Summary
Waunakee school board approved a revision to its fund-balance policy, moving the target from a fixed 15% goal to a 10–15% range, and accepted administrative updates to the district purchasing policy that adjust approval levels while keeping board approvals unchanged.
The Waunakee Community School District Board on June 9 approved two interrelated policy revisions: setting a fund-balance goal as a range of 10%–15% and updating the district’s purchasing policy to change some administrative approval thresholds.
Steve (staff member) said the fund-balance policy change reflects conversations at an earlier board workshop and converts a single 15% target into a recommended range of 10%–15%. The intent is to provide the district greater flexibility in financial planning while maintaining a reserve target.
On purchasing, Steve and business staff described administrative edits to approval levels that will streamline operational purchasing; the board’s role — the purchases requiring board approval — remains the same, they said.
At the meeting the board approved the package of policy changes together with the open-enrollment revision and other policy items. Board members asked clarifying questions about timing and communication; staff said these are administrative updates that do not change the categories of purchases that must come to the board for formal approval.
The fund-balance classifications for fiscal year 2023–24 (final audited numbers) were also presented and approved as part of the year-end budget process. Staff noted the audited fund-balance figures will not be updated until the close of the 2024–25 audit cycle.
The board asked that staff provide materials explaining how the fund-balance range will be used in budgeting decisions going forward.
