001Hi, I'm Brad Sarin, superintendent of the Sun Prairie Area School District, here presenting to the board of education and the community operational expectation six, which is financial administration. I'm joined by Matt Clark, our director of school business and finance. And I'm happy to report out of the 32 areas of expected compliance from the board of education that the administration is submitting a monitoring report where we believe we're compliance in 32 of 32 areas and we've included artifacts. And so you might be wondering what actually is financial administration. And so we've included a couple of slides just explaining that. And so uh because the majority of the budgeted uh uh money in um the Sun Prairie Area School District overall budget is payroll, we have to track all payroll and all debits across the budget and
002all across the calendar year, which ensures all obligations are paid on time. It includes purchased items. It includes what the audit looks like. It includes the collection of funds, ensuring that money due to the district is all collected on time. And that's not it uh at all uh it um we have to actually make sure that there's accurate financial records kept across the entire uh fiscal year that aligns to the expectations in state statute and woofer code. We have to ensure that the money that is being spent aligns to the approved budget plan by the board of education. We have to ensure that the board approves uh all of the debt that uh that the school district owes and is paying on. And we also have to make sure that all of the federal, state,
003and local reports uh that are required financially uh are filed and uh communicated on time and accurately. And so from here, I'm going to turn it over to Matt to go in detail on operational expectation six. Matt, >> thanks Brad. Uh before I talk about OE6, just at a super high level, um when looking at OE5 and OE6, OE5 of which was taken to the school board um November 24th, um OE5 really focuses on the district's budget building process. So really our overall financial planning for each year's budget. OE6, however, financial administration really looks at how that budget is then executed. So specifically how the district monitors, forecasts, and manages its finances throughout the year. So OE5 and six really work hand in hand. And in OE6, um I have linked here on the slide.
004Um there's a a lot of significant detail that goes into all of the 32 compliance measures. Um, all of that supporting information is included in the monitoring report which is linked in this slide as well as in diligent for anyone who would like to take a deeper look at these. For this screencast, however, I'll stay at a high level and focus on the key takeaways. So, as you can see, the district was evaluated on all 32 measures and all 32 are in compliance with schoolboard expectations, which is great news. Um each measure is supported by documentation in the monitoring report and many of them tied directly to the financial audit that takes place each year. Um we once again received a clean audit which our auditors will discuss in more detail um in a screencast
005for the January 12th board meeting that will also see OE6 and OE7. That audit provides really an external validation of many of the OE6 measures um that show how the district is functioning financially. I want to recognize the the business office for their continued work um in maintaining strong financial compliance and stability. It's not something that we should take for granted. Um and in OE6 when we talk about um the execution of the budget that's really the executing um execution of the dollars that we receive from our taxpayers as well as uh local state and federal governments. So um really it's our business office and payroll accounts payable and and other areas that are executing those dollars and then are reflected um in OE6. So I want to recognize each member of the business office
006and thank them for their continued work. Even with clean audits um and sound processes, we still remain focused on continuous improvement um to be able to um increase effici efficiency and accuracy as well as focusing on long-term financial planning to be able to support the district's strategic priorities and future needs. Um, similar to OE5, um, district administration and school board members will collaborate collaborate on interpretations for the revised OE6 policy. We've actually already started that process now. We and we'll be continuing that. Um, that will then be used to monitor the 2526 fiscal year, which we're already halfway through, which is hard to believe. Um, this will help ensure we continue to refine and strengthen our approach to financial oversight uh, moving forward in partnership with the board. So, with that, I want to thank
007you, the school board, for your continued support. Um, and if you have any questions um, about this screencast or any of the monitoring um, items that are in the monitoring report, feel free to reach out to me directly. I'd be happy to answer your questions. Thank you. >> [music]