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Board directs year-end deposits to OPEB trust and long-term capital fund
Summary
The board approved a motion instructing administration to deposit unspent fiscal-year 2025–26 dollars to Fund 73 (OPEB trust) and Fund 46 (long-term capital maintenance) to cover unbudgeted costs and preserve aidable capacity for eligible year-end transactions.
The Janesville School District board voted on June 9 to direct administration to deposit unspent fiscal-year 2025–26 dollars into two reserve accounts: Fund 73 (other post-employment benefit trust) and Fund 46 (long-term capital maintenance). The motion was made, seconded, and recorded as passing during the meeting.
Finance staff described the purpose of each fund. Dan McCrae explained Fund 73 supports the district’s commitments to retirees and that Fund 46 was established for long-term capital maintenance (roofs, HVAC, major building repairs) and is subject to a five-year moratorium on expenditures before funds are available for use. McCrae said both fund types are aidable and eligible for certain year-end transactions through July 30. He reported the district’s current fund balance at roughly 18% and characterized these deposits as a prudent short-term use of unspent dollars in the face of unbudgeted restoration needs at Washington Elementary and other capital pressures.
The board asked clarifying questions about the benefits of funding these accounts and how funds would be used; McCrae and other administrators said the deposits honor retiree obligations, build capacity for capital maintenance without always returning to referendum, and preserve options for urgent repairs. The motion passed and administration will return to the board with refined estimates and proposed allocation amounts at the next workshop.
