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Fond du Lac board elects officers, approves routine financial items and authorizes bond defeasance
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Summary
The Fond du Lac School District Board of Education on April 13 elected officers for 2026–27, approved routine financial items and authorized a transfer of funds to defease part of its 2020 refunding bonds, a move staff said will save interest. The board also set member compensation and appointed WASB delegates.
The Fond du Lac School District Board of Education elected officers for the 2026–27 term and approved a series of routine financial actions at its April 13 meeting.
At the start of the meeting the board approved a slate of officers — President Katie Motor, Vice President Luke Frame, Clerk Karen Maine and Treasurer Mark Henschel — by voice and roll call; the motion carried unanimously. The board then confirmed a slate of designated public depositories for 2026–27, including National Exchange Bank & Trust of Fond du Lac, Associated Bank, BMO Harris and the Wisconsin Investment Series Corporation; that motion also passed 7–0.
The board authorized interim use of existing electronic signature stamps until new stamps containing the newly elected officers’ signatures are obtained, a procedural step administrators said is needed to keep financial transactions moving. That motion passed 7–0.
Members voted 7–0 to approve a resolution authorizing the transfer of funds to establish an escrow account for the defeasance of certain General Obligation Refunding Bonds, Series 2020A (dated Oct. 13, 2020). The district’s chief of finance and operations explained the action is the second half of a defeasance — a prepayment of long-term debt — that the district previously authorized via levy. The district projects roughly $700,000 in interest avoidance from the transaction and noted the levy authority for the amount was previously authorized; staff emphasized the transferred levy dollars can only be used for debt prepayment and not for operating expenses.
On compensation, the board approved paying the board president $1,800 and other board members $1,600 for the 2026–27 term. Board members discussed the long-standing local practice of donating their stipends back to district programs, such as acuity grants or student activities, and said members are free to direct or donate their compensation as they choose. The compensation motion passed 7–0.
The board also appointed Karen Maine as delegate and Antonio Godfrey as alternate to the Wisconsin Association of School Boards (WASB) delegate assembly; that motion carried unanimously.
The presiding officer noted a quorum was present and that more substantive policy work would be taken up in the workshop that followed the regular meeting.
Votes at a glance • Election of officers (President Katie Motor; Vice President Luke Frame; Clerk Karen Maine; Treasurer Mark Henschel): passed 7–0. • Designated public depositories (National Exchange Bank & Trust, Associated Bank, BMO Harris, WISC Investment Series Corp., Mid America): passed 7–0. • Authorize existing signature stamps: passed 7–0. • Resolution authorizing transfer of funds for defeasance of GO Refunding Bonds, Series 2020A: passed 7–0. Staff projected approximately $700,000 in interest avoidance and noted levy authority of $1,600,000 had been authorized earlier for debt prepayment only. • Board compensation (president $1,800; members $1,600): passed 7–0. • WASB delegate and alternate: passed 7–0.
The board adjourned the regular meeting and moved to a workshop to review proposed policy changes (Volume 35, Number 1).
