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Board approves budget amendment to record hail-damage insurance payments; finance update flags operating deficit
Summary
Trustees approved a budget amendment to account for insurance proceeds from previous hail damage and heard the finance committee update that the 2024–25 year will close with a deficit and that 2025–26 planning continues amid constrained resources.
The Rice Lake Area School District board on June 9 approved a budget amendment to record insurance proceeds and expenditures related to hail damage and received a finance committee update that the district is projecting an operating deficit.
District staff explained that the district previously sustained significant hail-related damage and will increase affected budget lines after insurance…
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