Board of Education Meeting Recap
November 5th, 2024
Discussion Regarding the Resolution Authorizing Temporary Borrowing in an Amount Not to Exceed $7,500,000; Issuance of Tax and Revenue Anticipation Promissory Notes; and Participation in the PMA Levy and Aid Anticipation Notes Program
Relevant Policy: Operational Expectation (OE) 5: Financial Planning, Operational Expectation (OE) 6: Financial Administration
Deputy Superintendent Chad Wiese and Director of Finance Pete Grender shared the recent VASD history and reasoning behind short-term borrowing. Over the past five years, VASD has engaged in short-term borrowing every year except 2023-24 as follows:
2020-21 $8,000,000
2021-22 $9,500,000
2022-23 $9,000,000
2023-24 $0
2024-25 $3,200,000
Director Grender explained that short-term borrowing is necessary because, in school districts, expenses flow evenly throughout the year, whereas revenues are received later in the year, thereby creating a situation where school districts need funds before they have revenue.
VASD will not receive approximately 25% of its 2025-26 revenues until August 2026. VASD’s cash reserves are not able to cover expenses prior to the receipt of revenues. VASD’s projected lowest cash balances will fall in mid-January 2026. Director Grender explained two options VASD can employ to cover expenses during those times: a short-term note or a letter of credit. A short-term note offers better financial advantages than a letter of credit based on interest rates and the negotiating power of PMA Financial Network, the entity that handles VASD’s short-term borrowing. VASD can still enter into a Letter of Credit with Lake Ridge Bank to cover any unforeseen expenses.
Wisconsin Association of School District Administrators (WASDA) Fall Superintendents Conference
Dr. Clardy attended the WASDA Fall Superintendents Conference, which is designed to support Wisconsin superintendents by providing professional learning opportunities focused on creating conditions for success in local school districts. He shared the following key takeaways:
Act 20 Math Legislation: The state legislature is expected to vote on Act 20 Math in the coming year. While details are still emerging, there are important questions around the potential impact on staff workload and district budgets. When asked whether this could become an unfunded mandate, Dr. Clardy noted that—based on our experience with Literacy Act 20—his confidence is low that the legislation will come with sufficient funding to cover the requirements.
Artificial Intelligence in Education: A major focus of the conference was the role of AI in schools. Conversations centered on how districts can thoughtfully align AI tools with their mission and vision, and—most importantly—how to engage staff in shaping approaches that bring these tools to life in ways that enhance teaching and learning.
Employee Health Clinic Ribbon Cutting You are warmly invited to join us for the ribbon cutting of the Verona Area School District Employee Health Clinic, a partnership with SSM Health at Work. We are excited to celebrate this milestone and the opportunity to provide this valuable service to VASD employees and their families. Date: Friday, October 3, 2025
Time: 9:00 AM
Location: Employee Health Clinic – Lower level of 700 N. Main Street, Verona.
Greater Dane County School District Governance Consortium Meeting
The Greater Dane County School District Governance Consortium will meet on Thursday, October 9th, at the Madison Metropolitan School District Holtzman Learning Center at 333 Holtzman Road in Madison. BOE members, please RSVP to Lorrie Jensen.
School Leaders Advancing Technology in Education (SLATE) SLATE Convention
SLATE is a comprehensive educational technology convention designed to meet the needs of all schools and districts. This convention is designed for a wide variety of educators including Teachers, Principals, Associate Principals, District Administrators, Library Media Specialists, IT Coordinators, Directors of Curriculum and Instruction and other school leaders. Over the course of three days in December 2025, 1,500 educators of all backgrounds and expertise levels will gather to learn about the newest in education technology, as well as practical tips and tricks to implement in their schools and districts. Three BOE members and 5 VASD staff members will attend.