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Elmbrook board approves additional transfer into capital fund and tasks finance committee with final amount
Summary
The Elmbrook School District board approved a budget amendment authorizing an additional transfer (not to exceed $6.5 million) from operating Fund 10 into capital Fund 46, citing a one-time state-aid timing opportunity; the Finance & Operations committee must finalize the exact dollar amount before staff borrows any cash-flow tran.
The Elmbrook School District Board of Education voted to authorize a 2023–24 budget amendment to move an additional amount — not to exceed $6,500,000 — from Fund 10 into Fund 46, the district’s capital projects fund, with the Finance & Operations Committee to approve the final amount before any promissory note or tran is issued.
Kristin Sobocinski, the district’s finance lead, told the board the district currently has $14,800,000 sitting in Fund 10 set aside for capital projects and recommended moving a portion into Fund 46 so capital work can be funded without driving up tax rates next year. “The district has $14,800,000 in Fund 10 that’s set aside for capital projects,” Sobocinski said, describing the transfer as a timing strategy because state aid estimates come after the fiscal year ends.
The board’s discussion turned to cash-flow implications. Sobocinski warned the move will likely require increased short‑term cash‑flow…
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