Instructional funds are funds where elementary and secondary instruction activities, pupil support activities, or instructional staff support are recorded.
Fund 10 General Fund
The general fund accounts for all financial transactions related to the District's current operations, except for those required to be accounted for in other funds. A balance can exist in this fund.
Sources of revenue for Fund 10 include local (i.e. taxes, payments for services, fees) inter-district payments (i.e. open enrollment), intermediate (i.e. federal aid transited through CESAs), state (i.e. library aid, transportation aid, general aid, SAGE), federal (i.e. ESEA Title REAP,) and other sources (i.e. insurance dividends, refunds).
Fund 21 Special Projects Fund
The Special Projects Fund receives gifts from third parties.
Fund 27 Special Education Fund
This fund accounts for special education and related services funded wholly or in part with state or federal special education aid or charges for services provided to other districts resulting from being a host district for a special education package or cooperative program. No fund balance or deficit can exist in this fund.
Sources of revenue include a transfer from fund 10, open enrollment from other WI districts, state aid through CESA, federal aid through CESA, state categorical aid, and state and federal high cost aid.
Expenditures include salaries and benefits for special education teaching staff as well as payments for services provided by CESA 2.
Fund 99 Other Package and Cooperative Program Funds
This fund records all other types of cooperative instructional funds. No fund balance or deficit can exist in this fund.
Sources of revenue can include tuition, rentals, some state and federal aid, and other sources.
Debt Service Funds
These funds record transactions related to repayment of the following general obligation debt; promissory notes (issued per statute 67.12(12)), bonds, state trust fund loans, and TEACH loans. Debt tax levies must be recorded in these funds.
The resources in these funds may not be used for any other purpose as long as a related debt remains. Separate checking and/or investment accounts should be maintained.
Fund 38 Non-Referendum Debt Service Fund
This fund accounts for transactions for the repayment of debt issues that were either: not authorized by school board resolution before August 12, 1993, or incurred without referendum approval after that date. A fund balance may exist in this fund.
Sources of revenue are property taxes and interest.
Fund 39 Referendum Approved Debt Service Funds
This fund accounts for transactions for repayment of debt issues that were either: authorized by school board resolution before August 12, 1993, or approved by referendum. The district may account for referendum approved debt service transactions in Funds, 31, 32, 33, 34, 36, 37, and or Fund 39. All referendum approved debt service funds must be combined and reported in Fund 39. A fund balance may exist in this fund.
Sources of revenue are property taxes, interest and transfers from Fund 10.
Capital Projects Funds
Funds 41 or 49
These funds account for expenditures financed through the use of bonds, promissory notes issued per statute 67.12(12), state trust fund loans, land contracts, or an expansion fund tax levy established per statute 120.10(10m).
The resources in capital projects funds may not be used for any purpose other than that for which the fund was established. Any balance remaining in a sub-fund established with borrowing proceeds must be transferred to the related debt service fund account upon project completion.
Food and Community Service Funds
These funds account for and report transactions of the district's food and community service activities. No K-12 instructional or instructional support related functions are recorded in these funds.
Fund 50 Food Service Fund
All revenues and expenditures related to pupil food service are recorded in this fund. Revenue sources are pupil and adult meal purchases, state and federal aid, and a transfer from the general fund if needed. Expenditures include salaries and benefits for cafeteria aids, payments to food service contractor, equipment purchases and repair, and commodity handling charges.
Fund 80 Community Service Fund
This fund accounts for programs which are not elementary or secondary educational programs but have the primary function of serving the community.
Any tax necessary to operate the Community Service Fund is considered an operation levy subject to s. 120.10(8) and s. 120.12(3).
Revenues can include property tax, collected fees, payments from other districts, and state and federal grants.
Fund 60 Agency Fund
This fund accounts for assets held by the district for pupil organizations. Revenue sources include proceeds from student fund raising and donations. Expenditures are made for student activities (i.e. skiing fees, Washington D.C. trip, supplies for activities).
Trust funds account for assets held by the district in a trustee capacity for individuals, private organizations, other governments and/or other funds.
Fund 73 Employee Benefit Trust Fund
This fund accounts for resources held in trust for formally established employee benefit plans. This fund applies to all post-employment benefit plans where the District is providing financial contributions to a legally established irrevocable trust.
Revenue sources are contributions from Funds 10 and 27, interest received on funds, and the retiree's contribution towards insurance.
Expenditures include the implicit cost of retirees in the plan and premiums for retiree health coverage.
First Reading: May 21, 2013
Second Reading: June 4, 2013
Approved: July 16, 2013For the Board: Tom Steiner, President; Lynn Jaeger, Vice President; Cole Marshall, Clerk; Bill Barhyte, Treasurer; Dean Troyer, Member