During the recent Board of Education meeting for Chippewa Valley Schools, significant discussions centered around financial reporting accuracy and the district's budgetary health, which directly impacts local students and families.

One of the key topics was the need for improved accuracy in the district's reimbursement requests to the state. It was noted that inaccuracies had been identified in seven out of eleven monthly reports, leading to both overclaims and underclaims of funds. While the net effect was a minor underclaim of approximately $2,000, the finance committee emphasized the importance of tightening procedures to prevent future errors. This proactive approach aims to ensure that the district receives the correct funding based on the meals served, which is crucial for maintaining school meal programs.

The meeting also highlighted the district's financial performance for the fiscal year ending June 30, 2024. The general fund revenue reached $214 million, marking a $12 million increase from the previous year. The primary source of this revenue continues to be unrestricted state aid, which is vital for the district's operations. However, the meeting underscored a notable decrease in federal COVID-related funding, which has significantly tapered off as expected.

Expenditures for the same period totaled $210 million, reflecting a 6.5% increase compared to the prior year. The largest portion of these expenditures—about 74%—was allocated to instructional support, underscoring the district's commitment to classroom activities and student learning.

The district's fund balance also saw an increase, rising to $40 million, which provides a cushion for operational stability. This fund balance is equivalent to 71 days of operation, indicating a healthy financial reserve that can help the district navigate periods without state funding.

Additionally, the meeting addressed the cafeteria fund balance, which has exceeded permissible limits. The district is required to develop a long-term plan to spend down this excess, as regulations restrict the use of these funds for infrastructure improvements. The ongoing challenges in acquiring necessary equipment have complicated this process, but the district is exploring options to utilize these funds effectively.

Overall, the discussions at the meeting reflect a commitment to fiscal responsibility and transparency, ensuring that the financial health of Chippewa Valley Schools supports its mission to provide quality education and services to the community. As the district continues to refine its financial practices, residents can expect ongoing updates on how these efforts will enhance educational outcomes for students.