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Onalaska board reviews quarterly finances, flags $1.8 million bond premium ahead of June amendment
Summary
The Onalaska School District board reviewed quarterly operating funds April 28, noting timing-driven cash-flow variances, the end of ESSER federal funds and a $1,800,000 bond premium and related issuance costs; a final budget amendment is planned for June 23.
The Onalaska School District on April 28 reviewed quarterly operating finances and discussed items that will appear in a final budget amendment scheduled for June 23.
Kristen, who presented the financial report, told the board to watch cash-flow timing across the year and walked members through revenue and expenditure shifts. "One of the things that is always something to watch is what's happening with our cash flow," Kristen said, describing payroll timing differences that produce visible month-to-month spikes.
The presenter said about 86 percent of current budget revenue is state and local funding and that the district is seeing a relative increase in local-tax receipts as enrollment declines lift property value per pupil — a dynamic that can reduce state aid. Federal revenue showed a sharp drop because ESSER pandemic-era funds have ended. The report also noted that open-enrollment revenue is recorded after students have been educated and typically posts in June.
Kristen pointed to recent accounting reclassifications that moved some capital project costs into purchase services and educational payments, explaining the change makes year-to-year comparisons look different without indicating a real drop in project work. The finance report identified Fund 39 entries tied to recent bond issuance: a bond premium of about $1,800,000, roughly $25,000 budgeted for additional interest and approximately $223,120 in bond-issuance costs.
The superintendent’s materials also cited an $875,000 payment from the Boys & Girls Club recorded in the capital projects fund related to middle-school reclassification work and noted a vehicle purchase from the prior year. Board members were told monthly financial statements will continue to be distributed and the district will propose a final budget amendment at the June 23 meeting.
The board did not record a vote on the amendment at this meeting; presenters said the June session will include the district’s final budget-amendment action.
