The Fond du Lac School District Board voted 6–1 on Nov. 11 to authorize a taxable revenue‑anticipation promissory note — a line of credit — with National Exchange Bank & Trust for short‑term cash‑flow needs, capped at $3 million.

Finance officer Mike Gerlach told the board the measure is a cash‑flow management tool, not a long‑term borrowing plan: the district would not draw funds unless needed, interest is incurred only for days drawn, and the arrangement would expire on June 30. Gerlach said most years the district receives the bulk of state aid in January through March and that November is typically a low point in cash on hand. He characterized the instrument as an “insurance piece” that would likely be necessary for only a short time — “at most, would need this not much more than 1 week,” he said.

Board members discussed transparency and oversight. One board member asked for a report back on any draws; Gerlach agreed that each draw would be reported in a formal document and signed by board officers, and that he could provide summary updates to the board. Members also discussed stop‑loss timing for the district’s self‑insured health plan as a variable that can create temporary cash demands.

The motion to authorize the credit line was moved by Mark Henschel, seconded by Mr. Laverance, and carried 6–1 on the roll call. Board member Oliver recorded the lone "no" vote in the roll call. The board directed staff to return documentation and draw reports should the district access the line.

What happens next: The board authorization allows district staff to finalize terms with National Exchange Bank & Trust; any actual borrowing would be reported to the board and reimbursed when state aid or other revenues arrive.