School District of WaupacaSchool District of Waupaca2015-20162015-2016

Budget HearingBudget HearingTax Levy CertificationTax Levy Certification

October 29, 2015October 29, 2015

““Do not go where the path may lead, go instead where there is Do not go where the path may lead, go instead where there is no path and leave a trail.”     no path and leave a trail.”    

Ralph Waldo Emerson Ralph Waldo Emerson American Poet American Poet 

The Budget TrailThe Budget TrailThe Final DestinationThe Final Destination

Budget OverviewBudget Overview

All Budgeted Expenses for all Funds remain All Budgeted Expenses for all Funds remain the same as presented at the October 13, 2015 the same as presented at the October 13, 2015 Regular Board Meeting.Regular Board Meeting.

The District Proposes Taxing Below the Legal The District Proposes Taxing Below the Legal Allowable Revenue Limit by Allowable Revenue Limit by $1,794,688 $1,794,688 Million DollarsMillion Dollars

Which equates to (Which equates to (Fund 10)Fund 10) Taxing below the Taxing below the Legal Allowable Revenue Limit by Legal Allowable Revenue Limit by 7.8%7.8%

Budget OverviewBudget Overview The 2015-16 proposed budget proposes a $80,052 revenue shortfall (Fund

10 = Revenues $23,691,207 – Expenses = $23,771,259). Reason: The 2014-15 final budget attained an $85,255 surplus.

The overall Fund 10 Revenue Budget remains the same as what was presented to the Board of Education while the overall Fund 10 expense budget remains the same as presented to the Board of Education at the October 13, 2015 Regular Board Meeting. (See Fund 10 Revenue)

Therefore, the total Designated Fund Balance is projected to decline by $80,052 due to budgeting expenses more than revenues. (See Fund Balance Designation Recommendation Chart)

Factors that Contribute Factors that Contribute to the Tax levyto the Tax levy

General Aid Certification General Aid Certification

Student Enrollment Student Enrollment

Overall District Property Valuation Overall District Property Valuation

General State AidGeneral State Aid Based upon a July 2015 estimate from the Department of Public

Instruction general aid for the district was estimated at $8,201,281 for this year’s preliminary budget presented at the Regular Board Meeting on October 13, 2015. The final general aid certification amount, which the district received, last week reflects an increased amount as shown in Table 2.0 below.

General AidTable 2.0

Board Meeting Actual General Aid Certification(October 13, 2015) (October 29, 2015) Change

$8,201,281 $8,272,398 $71,117

$4,071,898 $4,071,898 7 Year Cumulative 7 Year Cumulative

General State Aid LossGeneral State Aid LossShifts the Tax Burden to TaxpayerShifts the Tax Burden to Taxpayer

The Effect The Effect

General Aid Loss & Tax Increase Relationship

Major Funding ReductionsGENERAL AID LOSS 6 YEAR ANALYSIS Estimate Cumulative

2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 General AidOctober 15 General Aid Certification $12,344,296 $11,489,947 $10,702,000 $9,633,578 $8,884,464 $8,914,248 $8,557,473 $8,272,398 Loss

General Aid Loss ($854,349) ($787,947) ($1,068,422) ($749,114) $29,784 ($356,775) ($285,075) ($4,071,898)

Fund 10 TaxesFund 10 Taxes Estimate Cumulative

2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 TaxDistrict Fund 10 Tax Levy $9,323,611 $9,523,611 $9,923,611 $9,776,265 $11,093,370 $11,288,109 $12,194,715 $12,797,229 Increase

Tax Offset $200,000 $400,000 ($147,346) $1,317,105 $194,739 $906,606 $602,514 $3,473,618

Net Loss Net $ Loss ($598,280)

Overall Tax Levy Comparison to Overall Tax Levy Comparison to Finance Meeting ProjectionsFinance Meeting Projections

Table 1.0Tax Levy

Budget - Regular Board Meeting Actual Tax Certification(October 13, 2015) (October 29, 2015) Change

$16,215,366 $16,157,007 ($58,359)Mill Rate Per 1000 of Property Valuation Actual Mill Rate

(October 13, 2015) (October 29, 2015)$11.64 $11.63 ($0.01)

Student EnrollmentStudent EnrollmentMembership CountMembership Count

As I indicated at the October 13, 2015 Meeting the district anticipated a decrease in student enrollment from the prior year thus I estimated the combination of these two counts to be 2102 students. Table 3.0 shows the final student enrollment count used for revenue limit purposes below.

Table 3.0Enrollment

Board Meeting Estimate Actual (October 13, 2015) (October 29, 2015) Difference

2102 2102 0

(Per Revenue Limit Worksheet)

Overall Property ValuationOverall Property Valuation At the October 13, 2015 Regular Board Meeting, the District, in

conjunction with Wisconsin Public Finance Professionals, LLC (at no cost to the district) projected this year’s district’s overall property valuation would equate to an overall property valuation of $1,392,941,526. Actual property valuation was certified by the Department of Revenue October 15th with a decrease value of $1,388,993,946. (See table 4.0)  

Table 4.0Property Valuation

Board Meeting Estimate Actual Projection(October 13, 2015) (October 29, 2015) Difference Variance

$1,392,941,526 $1,388,993,946 $3,947,580 0.28340%

Property Valuation HistoryProperty Valuation History

Tax LevyTax Levy

The 2015-2016 necessary tax levy to support this year’s budget is $16,157,007. At this year’s Regular Board Meeting on October 13, 2015 the tax levy for the district was estimated at $16,215,366, meaning the overall tax being requested in comparison to the October 13th Meeting estimate is less. (This includes funds 10, 39, 41 and prior year property charge backs)

DISTRICT:

1. 2014-15 Base Revenue (Funds 10, 38, 41) (from left) 20,801,4892. Base Sept Membership Avg (12+.4ss, 13+.4ss, 14+.4ss/3) (from left) 2,183

2014-15 General Aid Certification (14-15 Line 12A, src 621) + 8,557,473 3. 2014-15 Base Revenue Per Member (Ln 1 / Ln2) (with cents) 9,528.852014-15 Computer Aid Received (14-15 Line 17, Src 691) + 49,301 4. 2015-16 Per Member Change (A+B) 0.002014-15 Hi Pov Aid (14-15 Line 12B, src 628) + 0 A. Allowed Per Pupil Change (+$0.00/Member) 0.002014-15 Fnd 10 Levy Cert (14-15 Line 18, Src 211) + 12,194,715 B. Low Rev Incr ((9,100 - (3 + 4A))-4C) Not < 0 02014-15 Fnd 38 Levy Cert (14-15 Line 14B, Src 210) + 0 C. Low Rev Dist in CCDEB (Enter DPI Adjustment) 0.002014-15 Fnd 41 Levy Cert (14-15 Line 14C, Src 210) + 0 5. 2015-16 Maximum Revenue / Memb (Ln 3 + Ln 4) 9,528.852014-15 Aid Penalty for Over Levy (14-15 FINAL Rev Limit Worksheet) - 0 6. Current Membership Avg (13+.4ss, 14+.4ss, 15+.4ss/3) (from left) 2,1442014-15 Penalty for Unspent Energy Exemption - 0 7. 2015-16 Rev Limit, No Exemptions (Ln7A + Ln 7B) (rounded) 20,801,4892014-15 Total Levy for All Levied Non-Recurring Exemptions* - 0 A. Max Rev/Memb x Cur Memb Avg (Ln 5 x Ln 6) 20,429,854Line 1 NET 2014-15 Base Revenue = 20,801,489 B. Hold Harm Non-Recurr Exemption 371,635

8. Total Recurring Exemptions (A+B+C+D+E) (rounded) 1,726,083A. Prior Year Carryover 1,726,083B. Transfer of Service (if negative, include sign) 0C. Transfer of Territory (if negative, include sign) 0D. Federal Impact Aid Loss (2013-14 to 2014-15) 0

E. Recurring Referenda to Exceed (If 2015-16 is first year) 0 <<Enter if not pre-filled

Line 2: Base Avg:(12+.4ss)+(13+.4ss)+(14+.4ss) / 3 = 2,183 9. 2015-16 Limit with Recurring Exemptions (Ln 7 + Ln 8) 22,527,5722012 2013 2014 10. Total 2015-16 Non-Recurring Exemptions (A+B+C+D+E) 375,397

Summer fte: 46 46 43 A. Non-Recurring Referenda to Exceed 2015-16 Limit 0 <<Enter if not pre-filled

% (40,40,40) 18 18 17 B. Declining Enrollment Exemption for 2015-16 (from left) 371,625Sept fte: 2,201 2,156 2,138 C. Energy Efficiency Exemption for 2015-16 0 <<Enter if not pre-filled

Total fte 2,219 2,174 2,155 D. Adjustment for Refunded or Rescinded Taxes for 2015-16 3,772E. Prior Year Open Enrollment (uncounted pupils) 0

Line 6: Curr Avg:(13+.4ss)+(14+.4ss)+(15+.4ss) / 3 = 2,144 F. Penalty for Ineligible Community Serv Expends 02013 2014 2015 11. 2015-16 Revenue Limit With All Exemptions (Ln 9 + Ln 10) 22,902,969

Summer fte: 46 43 49 12. Total Aid to be Used in Computation (12A + 12B) 8,272,398% (40,40,40) 18 17 20 A. 2015-16 EST of October 15 Certification of General Aid 8,272,398Sept fte: 2,156 2,138 2,082 B. State Aid to High Poverty Districts (not all dists) 0

Total fte 2,174 2,155 2,10213. Allowable Limited Revenue: (Line 11 - Line 12) 14,630,571

Line 10B: Declining Enrollment Exemption = 371,625 (10, 38, 41 Levies + Src 691. Src 691 is DOR Computer Aid.)

Average FTE Loss (Line 2 - Line 6, if > 0) 39 14. Total Limited Revenue To Be Used (A+B+C) Not >line 13 12,835,883 X 1.00 = 39 Entries Required Below: Amnts Needed by Purpose and Fund:

X (Line 5, Maximum 2015-2016 Revenue per Memb) = 9,528.85 A. Gen Operations: Fnd 10 including Src 211 & Src 691 12,835,883 (Proposed Fund 10)

Non-Recurring Exemption Amount: 371,625 B. Non-Referendum Debt (inside limit) Fnd 38 Src 210 (to Budget Rpt)

C. Capital Exp, Annual Meeting Approved: Fnd 41 Src 210 (to Budget Rpt)

Line 17: State Aid for Exempt Computers = 38,654 15. Total Revenue from Other Levies (A+B+C+D) (A+B+C+D): 3,359,778Line 17 = A X (Line 16 / C) (to 8 decimals) (Rounds to Dollar) A. Referendum Apprvd Debt (Non Fund 38 Debt-Src 210) 3,355,495

2015 Property Values (October 1, 2015 Values from DOR) B. Community Services (Fnd 80 Src 210) (to Budget Rpt)

A. 2015 Exempt Computer Property Valuation Required + 3,323,000 C. Prior Year Levy Chargeback (Src 212) 4,283 (to Budget Rpt)

B. 2015 TIF-Out Tax Apportionment Equalized Valuation + 1,388,993,946 D. Other Levy Revenue - Milwaukee & Kenosha Only (to Budget Rpt)

C. 2015 TIF-Out Value plus Exempt Computers (A + B) = 1,392,316,946 16. Total Levy + Src 691, "Proposed Levy" (Ln 14 + Ln 15) 12,797,229 16,195,661 Computer aid replaces a portion of proposed Fund 10 Levy 17. Est Src 691 (Comp Aid) Based on Ln 16 & Values Entered (to Budget Rpt) 38,654

18. Fnd 10 Src 211 (Ln 14A-Ln 17), 2015-16 Budget 12,797,229Line 18 ( not 14A) is the Fund 10 Levy certified by the Board.

19. Total Fall, 2015 All Fund Tax Levy (14B + 14C + 15 + 18) 16,157,007CELL COLOR KEY: Auto-Calc DPI Data District Enters Line 19 is the total levy to be apportioned in the PI-401. Levy Rate = 0.01163217

2015-2016 Revenue Limit Worksheet

Count Ch. 220 Inter-District Resident Transfer Pupils @ 75%.

Line 1 Amount May Not Exceed Line 11 minus Line 7B of Final 14-15 Revenue Limit

September & Summer FTE Membership Averages

DATA AS OF 3/4/2015 11:49 AM

Districts are responsible for the integrity of the revenue limit data & computation. Data appearing here reflects information submitted to DPI and is unaudited.

*For 2014-15 Non-Recurring Exemptions Levy Amount, enter actual amount for which district levied; (7B Hold Harmless, Non-Recurring Referenda, Declining Enrollment, Energy Efficiency Exemption, Refunded/Rescinded Taxes, Prior Year Uncounted Open-Enroll. Pupils)

AN AMOUNT FOR THE OCTOBER 15, 2015 AID CERTIFICATION MUST BE ESTIMATED AT THIS POINT.

Worksheet is available at: http://sfs.dpi.wi.gov/sfs_revlimworksheet

Fund 10, PI-401 0Fund 38, PI-401 0Fund 41, PI-401 0

Chargeback, PI-401 0Fund 39, PI-401 0Fund 80, PI-401 0Fund 48/Other, PI-401 0

Total, PI-401 0

Computer Aid 0 <---- don't change

0You have underlevied by: 1,794,688

Total Non-Recurring Exemptions: 747,032LEVIED Total Non-Recurring Exemptions: 0

(to be removed from subsequent year's base)

Eligible carryover into subsequent year: 1,047,656

Revised 11/20/2014

DPI Reconciliation

Results

(Non-recurring exemptions reduce the amount of underlevy that is eligible to be carried over into the subsequent year.)

Users should enter estimated levy amounts into Lines 14 & 15 (cells I36-I43) in the actual spreadsheet to the left for testing. The "Results" box below will display the

status based on the numbers entered.

The levies in this "DPI Reconciliation" box will not be populated until actual levy amounts in Fall, 2015 from district PI-401 Levy Certifications are available.

Fund Balance CompositionFund Balance CompositionWaupaca FY 2014-15 Annual Report Waupaca FY 2014-15 Annual Report

Fund Balance DesignationFund Balance Designation

2014-15 2015-16End of Year End of Year

$85,255 Revenues vs. Expenditures ($80,052)

$1,175,488 OPEB Designated Fund Balance $1,095,436$289,363 Designated Debt Reduction $289,363

$7,039,585 Designated Fund Balance $7,039,585

$8,504,436 Total All Designated Fund Balances $8,424,384

Advance Refunding of 2006 Bond Using Debt Advance Refunding of 2006 Bond Using Debt Service Designation $ Service Designation $

Rather than Transfer - shown belowRather than Transfer - shown below

Refinancing $8,525,0002005 Bond Tax Impact

Board Approved Board Approved Debt Service AnnualTax Mitigation Plan 2013 Refinancing Annual Debt Designation Debt Service

Year Due Former Debt Levy New Debt Levy Tax Levy Savings Transfer Tax Reduction2014 $3,370,000 $3,358,686 $11,314 $289,363 $57,8732015 $3,461,550 $3,354,829 $106,721 $57,873 $3,296,9562016 $3,454,875 $3,355,495 $99,380 $57,873 $3,297,6222017 $3,472,460 $3,372,168 $100,292 $57,873 $3,314,2952018 $3,477,880 $3,371,674 $106,206 $57,873 $3,313,8012019 $3,099,200 $2,994,502 $104,698 $57,873 $2,936,629

$20,335,965 $19,807,354 $528,611 $289,363 $16,159,305

*Data will pre-fill when a district is selected from the drop-down menu on the "Budget Adoption Format" tab in this workbook.

GENERAL FUNDAudited

2013-2014Unaudited 2014-2015

Budget 2015-2016

Beginning Fund Balance 7,901,693.91 8,418,865.17 8,504,435.77 Ending Fund Balance 8,418,865.17 8,504,435.77 8,424,383.77 REVENUES & OTHER FINANCING SOURCESTransfers-In (Source 100) 0.00 0.00 0.00 Local Sources (Source 200) 11,434,688.30 12,308,361.70 12,972,271.00 Inter-district Payments (Source 300 + 400) 560,016.00 628,024.98 620,000.00 Intermediate Sources (Source 500) 17,424.02 0.00 0.00 State Sources (Source 600) 9,844,041.85 9,680,647.64 9,499,557.00 Federal Sources (Source 700) 597,322.25 534,529.19 542,379.00 All Other Sources (Source 800 + 900) 94,165.78 65,290.28 57,000.00 TOTAL REVENUES & OTHER FINANCING SOURCES 22,547,658.20 23,216,853.79 23,691,207.00 EXPENDITURES & OTHER FINANCING USESInstruction (Function 100 000) 11,548,132.43 11,505,372.11 11,767,458.00 Support Services (Function 200 000) 8,260,071.77 9,227,769.72 9,400,475.00 Non-Program Transactions (Function 400 000) 2,222,282.74 2,398,141.36 2,603,326.00 TOTAL EXPENDITURES & OTHER FINANCING USES 22,030,486.94 23,131,283.19 23,771,259.00

Waupaca

BUDGET PUBLICATION, 2015-2016Required Published Budget Summary Format

A budget summary, notice of the place where the budget in detail may be examined, the time and place for a public hearing on the budget must be published or distributed under s. 65.90. The required minimum detail for the published summary is as follows:

SPECIAL PROJECTS FUNDAudited

2013-2014Unaudited 2014-2015

Budget 2015-2016

Beginning Fund Balance 69,763.74 57,903.57 67,554.27 Ending Fund Balance 57,903.57 67,554.27 67,553.27 REVENUES & OTHER FINANCING SOURCES 3,102,313.47 3,307,616.63 3,470,771.00 EXPENDITURES & OTHER FINANCING USES 3,114,173.64 3,297,965.93 3,470,772.00

DEBT SERVICE FUNDAudited

2013-2014Unaudited 2014-2015

Budget 2015-2016

Beginning Fund Balance 308,657.78 299,422.01 235,589.51 Ending Fund Balance 299,422.01 235,589.51 210,086.51 REVENUES & OTHER FINANCING SOURCES 3,358,686.00 3,354,830.00 3,355,495.00 EXPENDITURES & OTHER FINANCING USES 3,367,921.77 3,418,662.50 3,380,998.00

CAPITAL PROJECTS FUNDAudited

2013-2014Unaudited 2014-2015

Budget 2015-2016

Beginning Fund Balance 799,194.99 279,525.89 220,401.46 Ending Fund Balance 279,525.89 220,401.46 185,401.46 REVENUES & OTHER FINANCING SOURCES 270,792.82 1,449.58 0.00 EXPENDITURES & OTHER FINANCING USES 790,461.92 60,574.01 35,000.00

FOOD SERVICE FUNDAudited

2013-2014Unaudited 2014-2015

Budget 2015-2016

Beginning Fund Balance 157,670.98 134,233.92 82,002.84 Ending Fund Balance 134,233.92 82,002.84 2.84 REVENUES & OTHER FINANCING SOURCES 1,056,471.29 1,013,634.21 1,024,725.00 EXPENDITURES & OTHER FINANCING USES 1,079,908.35 1,065,865.29 1,106,725.00

COMMUNITY SERVICE FUNDAudited

2013-2014Unaudited 2014-2015

Budget 2015-2016

Beginning Fund Balance 0.00 0.00 0.00 Ending Fund Balance 0.00 0.00 0.00 REVENUES & OTHER FINANCING SOURCES 0.00 0.00 0.00 EXPENDITURES & OTHER FINANCING USES 0.00 0.00 0.00

PACKAGE & COOPERATIVE PROGRAM FUNDAudited

2013-2014Unaudited 2014-2015

Budget 2015-2016

Beginning Fund Balance 0.00 0.00 0.00 Ending Fund Balance 0.00 0.00 0.00 REVENUES & OTHER FINANCING SOURCES 0.00 0.00 0.00 EXPENDITURES & OTHER FINANCING USES 0.00 0.00 0.00

ALL FUNDSAudited

2013-2014Unaudited 2014-2015

Budget 2015-2016

GROSS TOTAL EXPENDITURES -- ALL FUNDS 30,382,952.62 30,974,350.92 31,764,754.00 Interfund Transfers (Source 100) - ALL FUNDS 1,627,202.48 1,822,872.50 1,965,326.00 Refinancing Expenditures (FUND 30) 0.00 0.00 0.00 NET TOTAL EXPENDITURES -- ALL FUNDS 28,755,750.14 29,151,478.42 29,799,428.00 PERCENTAGE INCREASE – NET TOTAL FUND EXPENDITURES FROM PRIOR YEAR 1.38% 2.22%

FUNDAudited

2013-2014Unaudited 2014-2015

Budget 2015-2016

General Fund 11,288,109.00 12,194,715.00 12,855,588.00 Referendum Debt Service Fund 3,358,686.00 3,354,830.00 3,355,495.00 Non-Referendum Debt Service Fund 0.00 0.00 0.00 Capital Expansion Fund 0.00 0.00 0.00 Prior Year Levy Chargebacks 0.00 0.00 4,283.00 TOTAL SCHOOL LEVY 14,646,795.00 15,549,545.00 16,215,366.00 PERCENTAGE INCREASE -- TOTAL LEVY FROM PRIOR YEAR 6.16% 4.28%

DISCONTINUED PROGRAMS

Reduction of State General Aid (shifts burden to taxpayer)Proposed Under Taxation (to alleviate taxpayer burden)

PROPOSED PROPERTY TAX LEVY

The below listed new or discontinued programs have a financial impact on the proposed 2015-2016 budget:

($356,192)($1,794,688) Tax Levy Under Allowable Revenue Limit

FINANCIAL IMPACT

Total Expenditures and Other Financing Uses

FUND 10 REVENUE2015-2016

Budget HearingSource Revenue Type Revenue Budget

211 Property Tax $12,797,229212 Charge Back $4,283213 Mobile Home Tax $2,200219 Other Taxes $0249 Transportation Fees $12,000262 Sale of Supplies $0271 Admissions $30,000280 Interest on Inv $3,000291 Gifts $0292 Student Fees - Other $47,000293 Rental - Other $14,500295 Summer School Revenues $1,400297 Student Fines $2,300299 Misc Revenue $0316 State Aid Transit-Spec Ed $0317 Federal Aid/CESA $0341 Non-Open Enrollment Tuition $0343 Charges for Co-curr Other Dist $0345 Open Enrollment $620,000381 Medicaid $0515 Non-Spec Ed State Aid $0517 Transit of State Aids (Co.) $0590 Misc Revenue - Intermed $0612 Transportation Aid $74,075613 Library Aid $87,209619 Per Pupil Aid $324,300621 Equalization Aid $8,272,398630 State Special Proj - #387 $0630 Equalization Aid $0630 State Special Proj - #397 $0630 State Special Proj - #583 $15,280641 State Tuition Payments $0650 State SAGE Aid $544,000660 State Rev thru Local Gov $10,000690 4k Start Up Grant $192,000691 Computer Aid $38,654713 Vocational Education $18,802718 ARRA Education Stabilization Fund $0730 Special Proj Grants-#328 $0730 Special Proj Grants-#329 $0730 Special Proj Grants-#365 $80,059730 Special Proj Grants -#391 $0730 Ecucation Jobs Funds-#595 $0751 Title I A - Basic Program-#141 $399,096751 Title I A -#149 $34,422751 Title I A - ARRA -#816 $0751 Title I A - ARRA -#822 $0752 Title V -#157 $0763 Fed School to Work $0780 Federal Aid Received thru State $10,000861 Sale of Fixed Assets $5,000862 Land and Real Property Sales $0964 Insurance Refund $32,000968 Debt Premium $0971 Other Refunds $0972 Non-Ded Refund Receipt $0981 Medicaid Reimbursement $0990 Miscellaneous $20,000

TOTAL REVENUE $23,691,207

Actual ProjectedBeginning Ending

Projected Fund Fund FY14-15 FY13-14 FY12-13 FY11-12Revenue Balance Balance Actual Actual Actual Actual

2015-2016 2015-2016 2015-2016 Expenses Expenses Expenses Expenses

$11,902,443 $11,866,173 $11,920,593 $11,722,930$4,051,272 $4,105,042 $4,188,680 $4,214,196

$181,124 $234,289 $215,943 $312,805$175,223 $242,463 $233,035 $175,827$255,624 $326,886 $323,960 $324,790

$4,742,724 $3,628,430 $3,353,214 $3,164,519$1,822,873 $1,627,202 $1,540,434 $1,458,837

$23,691,207 $8,504,436 $8,424,384 $23,131,283 $22,030,487 $21,775,860 $21,373,904$80,052

$65,000 $67,554 $67,554 $54,698 $79,863 $113,479 $74,038

$2,316,124 $2,194,972 $2,094,874 $2,146,049$662,828 $603,399 $586,204 $599,516$264,316 $235,940 $278,849 $201,191

$3,405,771 $0 $0 $3,243,267 $3,034,311 $2,959,926 $2,946,756

$3,355,495 $235,589 $210,087 $3,418,663 $3,367,922 $12,019,225 $3,238,893

$0 $74,007 $59,007 $44,330 $555,730 $113,668 $0$0 $146,394 $126,394 $16,244 $234,724 $0$0 $220,401 $185,401

$439,178 $449,485 $447,397 $429,719$94,195 $82,501 $79,182 $77,317

$532,492 $547,922 $568,664 $593,104$1,024,725 $82,003 $3 $1,065,865 $1,079,908 $1,095,243 $1,100,139

$31,542,198 $9,109,982 $8,887,428 $30,958,107 $30,148,220 $38,077,400 $28,733,731

BudgetFund 2015-2016

10 General FundSalary $12,399,066Fringe Benefits $4,144,873Elementary Non-Salary $201,240Middle School Non-Salary $183,804Senior High Non-Salary $254,208District Wide Non-Salary $4,622,742Transfers from Fund 27 & 50 $1,965,326

TOTAL FUND 10 $23,771,259

21 Special Revenue Trust Fund $65,000

27 Special EducationSalary $2,437,622Fringe Benefits $700,992Non-Salary $267,157

TOTAL FUND 27 $3,405,771

39 Debt Service $3,380,998

41 Capital Projects $15,00049 Capital Projects $20,000

$35,00050 Food Service

Salary $484,461Fringe Benefits $89,914Non-Salary $532,350 TOTAL FUND 50 $1,106,725

TOTAL ALL FUNDS $31,764,753

SCHOOL DISTRICT OF WAUPCA BUDGET HEARING MOTIONS

OCTOBER 29, 2015

1. Motion To Adopt The Budget As Presented (Or Adjusted)

Proposed Total Revenues – All Required Funds ………………………. $31,542,198 Total Expenditures – All Required Funds ………………….. $31,764,753 Motion to adopt the revenue budget at $31,542,198 and the expenditure budget at $31,764,753. 2. Motion To Set Tax Levy

Fund Tax Levy General Fund $12,797,229 Debt Service Fund $ 3,355,495 Capital Expansion Fund $ 0 Chargeback Personal Property $ 4,283 Total Levy $16,157,007 Motion to set the tax levy at $16,157,007. The above levy generates a tax rate of 11.63 per $1,000 of valuation.

3. Motion To Designate Fund Balance Motion to designate the General Fund Balance: Future Debt Service - $ 289,363 Other Post Employment Benefits $ 1,095,436 Cash Flow Purposes (residual) $ 7,039,585 Total Proposed General Fund Balance $ 8,424,384

4. Motion - Authorizing proceeding with refinancing the District's 2006 General Obligation Refunding Bonds to achieve

debt service savings, and for Wisconsin Public Finance Professionals, LLC to serve as the District's Municipal Advisor for

the issuance of 2016 General Obligation Refunding Bonds.

Published Budget Change Request Published Budget Change Request

The Annual Required Budget Publication, which is mandated to be published two weeks prior to the Budget Hearing, was published October 12, 2015. However the budget for taxes; general state aid and computer aid change annually for exact figures are not known until late in October.

Therefore, in addition to approving the Tax Levy Resolution, I am requesting that the Board of Education approve the revenue budget changes (as stated in Table 5.0) in accordance to Wisconsin Statute 65.90(a).

Budget Change RequestBudget Change Request

Notice is hereby given, in accordance with the provisions of Wisconsin Statute 65.90(5)(a), that the School Board of Waupaca, on 10/28/14

adopted the following changes. The following presents only adopted budget line items with changes. Unchanged line items are not presented

Table 5.0

2015-16 2015-16Published Amended

Line Item Budget Budget $ Chg.

Revenues10 R 800 211 500000 General Fund Property Taxes 12,855,588.00$ 12,797,229.00$ (58,359.00)$ 10 R 800 621 500000 State Equalization 8,201,281.00$ 8,272,398.00$ 71,117.00$ 10 R 800 691 500000 State Computer Aid 51,412.00$ 38,654.00$ (12,758.00)$

-$ Expenditures

-$ Dated This 29th day of October 2015

Kirsten Greenfield -$ School District Clerk

Notice of Change in Adopted BudgetSchool District of Waupaca

Notice is hereby given, in accordance with the provisions of Wisconsin Statute 65.90(5)(a), that the School Board of Waupaca, on10/28/14 adopted the following changes. The following presents only adopted budget line items with changes. Unchanged line

items are not presented

Malcolm Forbes once said:Malcolm Forbes once said:

““Education’s purpose is to replace an Education’s purpose is to replace an empty mind with an open one”empty mind with an open one”

While the purpose of the Annual Budget is to While the purpose of the Annual Budget is to achieve educational objectives that will impact achieve educational objectives that will impact the future.the future.

And we need to attend to financial numbers, And we need to attend to financial numbers, in the bigger picture of what we are all about in the bigger picture of what we are all about it can even be more than owing an education it can even be more than owing an education to our children.to our children.We can help to open the mind and heart to : We can help to open the mind and heart to :

life’s mysteries to be toldlife’s mysteries to be told wondrous possibilities that life holds wondrous possibilities that life holds the awesome potential in each to unfoldthe awesome potential in each to unfold

Herein Lies The Real GoldHerein Lies The Real Gold

Because if We Lose Our HeartsBecause if We Lose Our Hearts

Were Just Racing Off To Were Just Racing Off To NowhereNowhere

Questions?Questions?