Sun Prairie Area School District reports full compliance on asset-management monitoring

Sun Prairie Area School District Superintendent Brad Saron and Director of Business and Finance Phil Frey told the Board of Education that the district met all 20 measures under Operational Expectation 7, Asset Management, according to a monitoring report presented at the board meeting.

The monitoring report matters because OE 7 covers the district's protections against property and liability loss, stewardship of fixed assets and records, and long-term capital planning. Phil Frey said the report and supporting documents demonstrate the district's compliance with the board's expectations and applicable state statute and board policy.

Freed into specifics, Frey said OE 7 includes verification of property insurance, errors-and-omissions coverage, cybersecurity and employee-theft safeguards, maintenance of electronic files and fixed-asset records, and procedures that prevent sale of land without proper authority. Frey told the board that "all 20 measures are in compliance" and that the district has attached artifacts to the report, including maintenance logs, backups and an insurance summary.

Frey said the district bid out its insurance last year and that bidding insurance approximately every four years is part of the district's continuous-improvement practice. He identified the district's insurance consultant as R and R and said the district reviews workers' compensation, property and liability coverage and cyber insurance with that consultant. Frey said the district's combined workers' compensation, property and liability coverage is "over $1,000,000." He also said the district meets investment requirements under state statute and board policy.

On capital planning, Frey said the district has invested in a long-term capital account commonly referred to as Fund 46 and that the district typically presents a 10-year capital maintenance plan to the board annually in April or May. He said some funds remain from the April 2, 2019, referendum and that those referendum funds are being used for capital maintenance projects that still come before the board for approval.

Saron and Frey thanked staff in technology, business services and facilities and grounds for providing the documentation that supports the monitoring report. No formal vote or motion on the monitoring report was recorded in the transcript; Frey invited board members and the public to raise questions at the next regular meeting or during the Monday night session referenced in his remarks.

The presentation did not include specific dollar-by-dollar budgets for the capital plan in this excerpt, nor did it record board discussion or a formal acceptance vote in the transcript provided.