Austin Simons says Cuba City School District fund balance could fall below policy minimum; board proposes five-year referendum

Austin Simons, the Cuba City School District’s high school business teacher, said the district’s fund balance — the difference between its assets and its liabilities — is projected to fall below the district’s referenced "22" policy minimum by 2026–27 and be nearly depleted by 2029. He said the board has proposed a five-year nonrecurring operational referendum to stabilize district finances.

"A school district's fund balance is the difference between its assets and its liability," Simons said, adding that it is a "financial cushion that helps us cover expenses, manage unexpected costs, and make payroll without relying on short term borrowing." He described the fund balance as essential for covering operating costs before state aid payments arrive and for handling unexpected repairs such as boilers or roofs.

Simons said the district has maintained a stable fund balance in recent years but presented projections indicating a multi-year decline. "Projections [show the] fund balance would fall below our district's 22 policy minimum by 2026, 2027 and be nearly depleted by 2029," he said. The exact meaning of the district's referenced "22" policy minimum was not specified in the briefing.

To respond to those projections, "the Cuba City School Board has proposed a 5 year non recurring operational referendum to help stabilize district finances while maintaining financial reserves for the future," Simons said. The briefing did not include details about referendum ballot language, the dollar amount requested, an implementation timeline, or whether a board vote to place the referendum on a ballot has occurred.

Simons closed by directing listeners to the district website for more information and inviting questions. No formal vote or public hearing on the referendum was recorded in this briefing.