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FDL School Board Gives Approval to Preliminary District Budget

10-Sep-2019

The Fond du Lac School Board gave approval to the district’s preliminary budget for 2019-2020 at its meeting Monday night. The preliminary budget is what sets the stage for the next step in the budget process, which is the budget hearing that will be held later this month. Fond du Lac Schools Superintendent Jim Sebert says the budget looks “very positive”, but it also looks bigger than normal thanks to the referendum dollars that are included. “Already we have borrowed 25-million-dollars and we’re investing that money,” Sebert said. “The second allotment of money is going to be recommended at 35-million-dollars, so we would have 60-million-dollars on hand as of October, ideally.” Sebert tells us the reason for borrowing the money now is because of low interest rates, to try to “maximize the community’s gift to us.” As for the budget timeline, the district will obtain property values in early October, and state aid in mid-October, which will allow for the budget to be finalized by the end of next month.

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