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Chippewa Valley projects $3.6 million surplus after second amended 2024–25 budget review

3510680 · May 19, 2025
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Summary

District finance staff told the Board the second amended 2024–25 budget shows revenues of $218.3 million, expenditures of $214.7 million and an estimated ending fund balance of $44.5 million, roughly 20% of expenditures; the board adopted the appropriations resolution.

Danielle Jacobs, finance department, presented the district's second amended 2024'25 budget and told the board that revenues are now $218,300,000 and expenditures $214,700,000, producing a projected surplus of just over $3,600,000 and an estimated June 30 ending fund balance of $44,500,000 (about 20.7% of budgeted expenditures).

The summary figures matter because the district must comply with the Uniform Budgeting and Accounting Act and state reporting rules. Jacobs said the second amendment is largely a "cleanup" to align estimates with 10'11 months of actuals: "We now have, you know, 10 to 11 months worth of data," she said. "A lot of the changes in this budget are related to really teacher leaves. And we now know who's off."

The nut graf: The amendment increases revenue by roughly $282,000 from the first amended budget and reduces budgeted expenditures by about $1.1 million, shifting the district's position from the earlier estimate to a larger projected positive fund balance heading into the fiscal year end.

Key revenue changes Jacobs identified include higher interest income (+$178,000), additional millage receipts (+$65,000), a net decrease in MPSERS/1.47g reimbursements (about '$200,000) and grant/carryover adjustments (+$117,000). On the expenditure side, the largest single change was a net decrease in wages and benefits related to vacancies and leaves (about '$874,900). Utilities and fuel projections were also reduced (roughly '$222,700 and '$111,000 respectively), and grant-related reclassifications and lower tutoring contract spending reduced other objects and supplies.

Board members asked procedural questions about grant reporting and the difference between the district fiscal year (July 1'June 30) and many grant cycles (October 1'September 30). Jacobs explained that a portion of grant spending is carryover into the district fiscal year; reporting conventions require showing the full grant amounts so the state and district records reconcile. Superintendent Don Roberts said the revision was expected and described the amendment as a normal closeout step that better aligns budgeted amounts with what the district now expects to spend.

The board adopted the appropriation resolution for the 2024'25 fiscal year, which updates the general fund, food service, community services, childcare and cooperative activities fund budgets to reflect the second amended figures.