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Auditor: District holds strong reserves but carries $57 million in long-term obligations
Summary
An external auditor reviewed the Wisconsin Rapids School District's 2023–24 financial statements and told the board the district has nearly 24% in fund-balance reserves, roughly $200 million in fixed assets and about $57 million in combined long-term debt, while progress continues on OPEB and pension funding.
Chuck, the auditor, presented the district's 2023–24 financial statements to the Wisconsin Rapids School District Board of Education, saying the district has near-term liquidity and significant long-term obligations.
The auditor said the district had about $27 million in cash and receivables at year-end, a fund-balance reserve of roughly 23.9 percent of annual spending and nearly $200 million in fixed assets. ‘‘That's a big number,’’ Chuck said of the fixed-asset total.
The presentation noted roughly $28 million in general obligation bonds remaining and about $29…
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