Please Note:
This profile was automatically generated using 3 references found on the Internet. This information has not been verified. Learn more...
This profile was automatically generated using 3 references found on the Internet. This information has not been verified. Learn more...
Web References
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1. www.greenbaypressgazette.com
www.greenbaypressgazette.com/a - [Cached]Published on: 1/24/2008 Last Visited: 1/24/2008
For the district to balance its budget from year to year, it would need to increase revenue and decrease spending, said Mike Clark, a financial consultant from Baird and Associates.
"Consolidation isn't guaranteed," he said. -
2. www.parkfallswi.com
www.parkfallswi.com/herald/ind - [Cached]Published on: 12/19/2002 Last Visited: 12/20/2007
Most of that anxiety was relieved during a presentation by financial consultant Mike Clark of the Robert W. Baird firm, who suggested a strategy summed up by Schuchardt as only accessing a trust fund in which the donated funds are kept during the same fiscal year and in the same amount that expenses are incurred.
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Clark explained that the board would have some leeway and could even increase state aid by a limited amount a subsequent year by spending relatively small amounts in years other than those in which the expenses they were intended to cover were incurred, but the board would have to be prepared for state aid to go down after that increase.
He assured the board that the state could not curtail state aid so long as the donated money was kept in trust and not transferred for school district operational purposes until needed to avoid a deficit in the same year expenses were incurred.
Butternut School Financial Manager Laura Koshak said that by creation of a Fund 21 to hold prior Besse donation money until needed for transfer into Fund 10 before the end of the same fiscal year that expenses were incurred, the Butternut district essentially already has been doing the same thing that Clark was advising.
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Besides providing advice on use of the operational funds, Clark also gave the board some advice on taking advantage of a program called OZAB financing and on retiring the district's unfunded retirement liability debt, possibly with use of the operational funds donated by Besse if approved for such use by the Besse Foundation.
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Asked by a board member whether the district could expect much of a return in interest payments for invested operational trust funds donated by Besse, Clark said the interest rate paid to units of government currently is fairly low at a little over 4%. -
3. US v. Brace
cl.bna.com/cl/19980722/9650352 - [Cached]Published on: 6/24/1998 Last Visited: 8/12/2001
Brace met in May 1994 with Mike Clark , a financial consultant from Houston , Texas , and Clark's assistant , Knox.

