December 15, 2025 at 6:00 PM - Finance Committee Meeting

Description:  This is a meeting of the Board of Education in public for the purpose of conducting the School District's business and is not to be considered a public community meeting.

Description:  As of December 11, 2025, Location 400 has expended 38% of its $4.66M operating budget, with $2.88M (62%) still available for spring programming. Instructional budgets, such as English, Math, Science, FACE, and Music, remain largely underspent due to purchasing cycles and planned second-semester activities. Most co-curricular and athletic accounts also show strong balances aligned to seasonal use. A few areas reflect early-year or front-loaded expenses, including Business Education, Improvement of Instruction, district legal services, and annual audit fees, which will be monitored and adjusted as needed. Operational accounts (maintenance, transportation, technology, utilities) remain within expected ranges, and major object categories such as purchased services, supplies, and technology hardware all show healthy remaining balances. Overall, spending patterns are consistent with prior years, and no concerns are noted at this time.

Description: 

The District’s independent audit for the fiscal year ending June 30, 2025, has been completed by Baker Tilly. The auditors issued an unmodified ("clean") opinion of the District.

Key Audit Findings

• No noncompliance or fraud identified. 
• Audit completed without difficulties.
• Material misstatements corrected. Two accounting entries needed adjustment:
• Recording the good-faith deposit related to the District’s pending bond issuance.
• Recording pension trust activity to ensure accurate reporting.
• These adjustments were routine, corrected by management, and did not reflect missing funds or operational errors. 

As in many Wisconsin school districts of similar size, auditors identified the District’s segregation of duties and financial statement preparation process as areas where staffing limitations create material weaknesses. These findings are common in small and mid-sized districts and were also noted in prior years. 

This audit confirms that:

• The District’s financial operations remain well-managed.
• Required accounting adjustments were addressed quickly and appropriately.
• No issues were found that would impact District stability, taxpayer confidence, or strategic planning.
• The audit supports the Board’s ongoing oversight responsibilities and affirms the District’s sound financial position.