Tertiary Aid Insights: WASBO Accounting Conference Highlights 2025

WASBO Accounting Conference 18 March 2025 A Deeper Dive Into Tertiary Aid Jennifer Buros, Director School Financial Services Team Ben Kopitzke, Finance Consultant School Financial Services Team

Outline Aid Overview Aid Factors Ceilings and Guarantees Switching Aid Types Longitudinal Trends Ask questions anytime 2/31

The Big Picture Revenue Limit Aids Taxes 3/31

State General Aids The fundamental purpose of the Equalization Aid formula is to level the playing field by providing assistance (distributing aid) to poorer districts (those with lower property value) to make up for what they can t get from their property tax base. reasonable tax burden 4/31

Equalization Aid Factors District Factors (Prior Year Audited) Shared cost Most control Equalized property value Not assessed value Membership Denominator in the aid calculation Average of 3rd Friday in September + 2nd Friday in January FTE, plus 100% of Summer FTE, plus other adjustments State Factors Cost ceilings Guaranteed valuations per member Amount of funding the State puts into the formula 5/31

What is Shared Cost? Shared Cost was developed to be used in the Equalization Aid computation and captures ONLY certain elements of the General (10) and Debt Service (38 and 39) Funds. Shared Cost can be defined as the district expenditures for which the district has no other revenues except for local Property Tax and Equalization Aid. Determine Shared Cost for the General Fund by starting with the total General Fund expenditures and remove from those expenditures the dollar amounts of all the revenues EXCEPT for Property Tax and Equalization Aid. 6/31

Property Value Per Member Source: Department of Public Instruction 7/31

Shared Cost Per Member Source: Department of Public Instruction 8/31

Aid Membership Source: Department of Public Instruction 9/31

(Per Member) Property Value vs Shared Cost For every additional dollar spent Low Property Value High Property Value Highly aided Positively aided Low Spending High Spending Positively aided Negatively aided Depending on district value per member, some districts increaseaid by increasing expenses, while others decrease aid by increasing expenses (positive vs negative tertiary aid). 10/3

What is Negative Tertiary Aid? Negative Tertiary Aid is incurred when districts have shared cost per member above the secondary cost ceiling (90% of PY shared cost) and an equalized value per member greater than the tertiary guarantee (statewide average). Negative Tertiary Aid offsets Secondary Aid but does not negate Primary Aid. Negative Tertiary Aid makes the formula work 11/3

How The Formula Works $15,000 A percentage of shared $12,000 cost aided is calculated for each tier $9,000 $6,000 Your Value per Member Guaranteed Value per Member at that tier % Aided = 100% $3,000 $0 1,000 members Primary Secondary Tertiary 12/3

How The Formula Works $15,000 Tertiary Tier $500,000 $975,802 100% = 6% $12,000 $9,000 Secondary Tier $500,000 100% = 54% $2,207,144 $6,000 Not to perfect scale $3,000 Primary Tier $500,000 100% = 74% $1,930,000 $0 1,000 members $14,943 shared cost per member Primary Secondary Tertiary 13/3

But What About Negative Aid? $15,000 Tertiary Tier $12,000 $1,200,000 100% =-32% $975,802 $9,000 Secondary Tier $1,200,000 $6,000 Not to perfect scale 100% = 36% $2,207,144 $3,000 Primary Tier $1,200,000 100% = 64% $1,930,000 $0 1,000 members $14,943 shared cost per member Primary Secondary Tertiary 14/3

Ceilings and Guarantees Tertiary Guarantee State Average Value Per Member Tertiary Aid Negative Tertiary Aid Secondary Ceiling 90% of PY costs GUARANTEES FOR JULY 1 ESTIMATE K-12 UHS K-8 PRIMARY (G1) 1,930,000 Negative Secondary Aid 5,790,000 2,895,000 SECONDARY (G6) 2,218,770 6,656,310 3,328,155 Secondary Aid TERTIARY (G11) Secondary Guarantee Based on $$ in appropriation 977,295 2,931,885 1,465,942 Primary Ceiling Set in statute E9 SECONDARY COST CEILING PER MEMBER 11,959 Primary Aid No Equalization Aid Primary Guarantee In statute 15/3

Ceilings and Guarantees $ 11,943 12,000 $ $ 9,227 $ 2,000,000 9,000 $ 2,207,144 Cost Ceiling 1,500,000 Guarantees $ 1,096,664 $ 975,802 6,000 1,000,000 $ 531,951 3,000 500,000 0 0 2014-15 Secondary Guarantee 2024-25 Tertiary Guarantee Secondary Cost Ceiling Data for 2024-25 not finalized 16/3

Relative Shared Cost & Property Value Appleton E6 PRIMARY COST CEILING PER MEMBER E7 PRIMARY CEILING (A7 * E6) E8 PRIMARY SHARED COST (LESSER OF E5 OR E7) E9 SECONDARY COST CEILING PER MEMBER E10 SECONDARY CEILING (A7 * E9) E11 SECONDARY SHARED COST ((LESSER OF E5 OR E10) - E8) E12 TERTIARY SHARED COST (GREATER OF (E5 - E8 - E11) OR 0) 1,000 14,943,000.00 14,943,000.00 11,943 178,464,249.00 163,521,249.00 10,386,816.49 SHARED COST PER MEMBER = $12,638 PART F: EQUALIZED PROPERTY VALUE F1 2023 TIFOUT VALUE (CERT MAY 24) + EXEMPT COMPUTER VALUE (CERT MAY 17) 12,116,687,131 VALUE PER MEMBER = 810,860 TERTIARY (G11) 977,295 High Spending & Low Value = POSITIVE TERTIARY AID 17/3

Relative Shared Cost & Property Value Madison E6 PRIMARY COST CEILING PER MEMBER E7 PRIMARY CEILING (A7 * E6) E8 PRIMARY SHARED COST (LESSER OF E5 OR E7) E9 SECONDARY COST CEILING PER MEMBER E10 SECONDARY CEILING (A7 * E9) E11 SECONDARY SHARED COST ((LESSER OF E5 OR E10) - E8) E12 TERTIARY SHARED COST (GREATER OF (E5 - E8 - E11) OR 0) 1,000 26,906,000.00 26,906,000.00 11,943 321,338,358.00 294,432,358.00 78,968,702.21 SHARED COST PER MEMBER = $14,878 PART F: EQUALIZED PROPERTY VALUE F1 2023 TIFOUT VALUE (CERT MAY 24) + EXEMPT COMPUTER VALUE (CERT MAY 17) 40,212,783,775 VALUE PER MEMBER = 1,494,566 TERTIARY (G11) 977,295 High Spending & High Value = NEGATIVE TERTIARY AID 18/3

Ceilings and Guarantees M Tertiary Aid Negative Tertiary Aid A Negative Secondary Aid Secondary Aid Primary Aid No Equalization Aid 19/3

Switching Tertiary Aid Types Negative to Positive Tertiary Aid Monona Grove 2023-24 Primary Aid: Secondary Aid: Tertiary Aid: Total Aid: $19,532,575 + $3,325,361 Equalization Aid Factors: Membership up 3.8% Shared Cost Per Member up 6.8 percentage points, to 143.7% of secondary ceiling Property Value Per Member dropped from 103.2% to 97.5% of state average Positive to Negative Tertiary Aid Prescott 2023-24 Primary Aid: Secondary Aid: Tertiary Aid: Total Aid: $8,947,255 - $237,354 Equalization Aid Factors: Membership down 0.5% Shared Cost Per Member down 7.5 percentage points, to 124.3% of secondary ceiling Property Value Per Member increased from 97.4% to 101.9% of state average 2024-25 $1,688,372 $20,730,347 $439,217 $22,857,936 2024-25 $655,409 $8,129,365 -$74,873 $8,709,901 $1,729,557 $18,222,033 -$419,015 $767,806 $8,056,584 $122,865 20/3

Value Per Member Over Time Alma West Allis Source: Department of Public Instruction 21/3

Districts Near Breakpoints Shared Cost Property Value 96 districts 5% of secondary ceiling 72 districts 10% of tertiary guarantee 34 districts 2% of secondary ceiling 37 districts 5% of tertiary guarantee 15 districts 5%/10% of both 6 districts 2%/5% of both New Lisbon 2020-21 105.0% 2021-22 102.6% 2022-23 111.7% 2023-24 107.4% 2024-25 99.9% DISTRICT SHARED COST/MEMBER AS % OF SECONDARY CEILING Data for 2024-25 not finalized DISTRICT EQUALIZED VALUE/MEM AS % OF STATE AVERAGE 103.9% 98.1% 104.0% 108.3% 116.1% DISTRICT PRIMARY AID DISTRICT SECONDARY AID DISTRICT TERTIARY AID DISTRICT TOTAL EQUALIZATION AID 393,175 2,911,797 -11,843 387,588 3,283,508 3,184 360,002 3,218,415 -31,282 308,315 3,261,117 -40,771 235,022 3,027,497 0 22/3 3,293,130 3,674,280 3,547,136 3,528,660 3,262,519

EQ Aid: New Referendum Ashwaubenon: $3.2 M higher NR in 2024-25 calc 2023-24 FINAL AID 2024-25 OCT 15 CERT Ashwaubenon DISTRICT PRIMARY COST DISTRICT SECONDARY COST DISTRICT TERTIARY COST DISTRICT TOTAL SHARED COST % CHANGE IN SHARED COST 2,191,000 21,396,580 2,178,000 23,833,854 2,819,583 28,831,437 22.2% 0 Goes from low to high spending 23,587,580 -6.6% DISTRICT SHARED COST/MEMBER SECONDARY CEILING DISTRICT SHARED COST/MEMBER AS % OF SECONDARY CEILING 10,766 11,103 97.0% 13,238 11,943 110.8% High property value district Leads to Negative Tertiary Aid DISTRICT EQUALIZED VALUE DISTRICT EQ VALUE/MEMBER AVERAGE VALUE PER MEMBER DISTRICT EQUALIZED VALUE/MEM AS % OF STATE AVERAGE 2,324,375,710 2,672,593,540 1,060,874 861,640 123.1% 1,227,086 975,802 125.8% DISTRICT PRIMARY AID DISTRICT SECONDARY AID DISTRICT TERTIARY AID DISTRICT TOTAL EQUALIZATION AID 986,651 10,224,907 793,229 10,583,157 -726,088 0 23/3 11,211,558 10,650,299

EQ Aid: Expiring Referendum Parkview: $1.15 M NR ended after 2023-24 calc 2023-24 FINAL AID 2024-25 OCT 15 CERT Parkview DISTRICT PRIMARY COST DISTRICT SECONDARY COST DISTRICT TERTIARY COST DISTRICT TOTAL SHARED COST % CHANGE IN SHARED COST 910,000 9,193,730 2,411,068 12,514,798 913,000 9,990,959 249,534 11,153,493 -10.9% Relative shared cost drops 7.7% DISTRICT SHARED COST/MEMBER SECONDARY CEILING DISTRICT SHARED COST/MEMBER AS % OF SECONDARY CEILING 13,753 11,103 123.9% 12,216 11,943 102.3% Low property value district Causes reduction in Tertiary Aid DISTRICT EQUALIZED VALUE DISTRICT EQ VALUE/MEMBER AVERAGE VALUE PER MEMBER DISTRICT EQUALIZED VALUE/MEM AS % OF STATE AVERAGE 629,913,441 692,213 861,640 721,472,425 790,222 975,802 80.3% 81.0% DISTRICT PRIMARY AID DISTRICT SECONDARY AID DISTRICT TERTIARY AID DISTRICT TOTAL EQUALIZATION AID 583,615 6,061,590 474,097 539,175 6,413,904 47,457 24/3 7,119,302 7,000,536

WISCONSIN DEPARTMENT OF PUBLIC INSTRUCTION WISCONSIN DEPARTMENT OF PUBLIC INSTRUCTION WISCONSIN DEPARTMENT OF PUBLIC INSTRUCTION WISCONSIN DEPARTMENT OF PUBLIC INSTRUCTION ANALYSIS OF GENERAL AID AND EQUALIZATION AID FORMULA COMPONENTS* ** ANALYSIS OF GENERAL AID AND EQUALIZATION AID FORMULA COMPONENTS* ** ANALYSIS OF GENERAL AID AND EQUALIZATION AID FORMULA COMPONENTS* ** ANALYSIS OF GENERAL AID AND EQUALIZATION AID FORMULA COMPONENTS* ** Appleton Area Kenosha Madison Metropolitan Elkhart Lake-Glenbeulah 2015-16 2015-16 2015-16 2016-17 2016-17 2016-17 2017-18 2017-18 2017-18 2018-19 2018-19 2018-19 2019-20 2019-20 2019-20 2020-21 2020-21 2020-21 2021-22 2021-22 2021-22 2022-23 2022-23 2022-23 2023-24 2023-24 2023-24 2024-25 2024-25 2024-25 2024-25 2015-16 FINAL AID FINAL AID FINAL AID FINAL AID (2014-15 DATA) 4,475,960,500 Longitudinal EQ Aid 2016-17 FINAL AID FINAL AID FINAL AID FINAL AID (2015-16 DATA) 4,584,098,000 108,137,500 2017-18 FINAL AID FINAL AID FINAL AID FINAL AID (2016-17 DATA) 4,584,098,000 2018-19 FINAL AID FINAL AID FINAL AID FINAL AID (2017-18 DATA) 4,656,848,000 72,750,000 2019-20 FINAL AID FINAL AID FINAL AID FINAL AID (2018-19 DATA) 4,740,048,000 83,200,000 2020-21 FINAL AID FINAL AID FINAL AID FINAL AID (2019-20 DATA) 4,903,590,000 163,542,000 2021-22 FINAL AID FINAL AID FINAL AID FINAL AID (2020-21 DATA) 5,013,590,000 110,000,000 2022-23 FINAL AID FINAL AID FINAL AID FINAL AID (2021-22 DATA) 5,201,590,000 188,000,000 2023-24 FINAL AID FINAL AID FINAL AID FINAL AID (2022-23 DATA) (23-24 PI-1506 DATA) 5,356,290,000 154,700,000 OCT 15 CERT OCT 15 CERT OCT 15 CERT OCT 15 CERT (2014-15 DATA) 4,475,960,500 4,475,960,500 4,475,960,500 (2014-15 DATA) (2014-15 DATA) (2015-16 DATA) (2015-16 DATA) 4,584,098,000 108,137,500 108,137,500 108,137,500 (2015-16 DATA) 4,584,098,000 4,584,098,000 (2016-17 DATA) 4,584,098,000 4,584,098,000 4,584,098,000 (2016-17 DATA) (2016-17 DATA) (2017-18 DATA) (2017-18 DATA) 4,656,848,000 72,750,000 72,750,000 72,750,000 (2017-18 DATA) 4,656,848,000 4,656,848,000 (2018-19 DATA) (2018-19 DATA) 4,740,048,000 83,200,000 83,200,000 83,200,000 (2018-19 DATA) 4,740,048,000 4,740,048,000 (2019-20 DATA) (2019-20 DATA) 4,903,590,000 4,903,590,000 (2019-20 DATA) 4,903,590,000 163,542,000 163,542,000 163,542,000 (2020-21 DATA) (2020-21 DATA) 5,013,590,000 110,000,000 110,000,000 110,000,000 (2020-21 DATA) 5,013,590,000 5,013,590,000 (2021-22 DATA) 5,201,590,000 5,201,590,000 (2021-22 DATA) 5,201,590,000 188,000,000 188,000,000 188,000,000 (2021-22 DATA) (2022-23 DATA) (23-24 PI-1506 DATA) (2022-23 DATA) (23-24 PI-1506 DATA) 5,356,290,000 5,356,290,000 (2022-23 DATA) (23-24 PI-1506 DATA) 5,356,290,000 154,700,000 154,700,000 154,700,000 GENERAL AID APPROPRIATION GENERAL AID APPROPRIATION GENERAL AID APPROPRIATION 5,581,190,000 5,581,190,000 5,581,190,000 GENERAL AID APPROPRIATION YEAR OVER YEAR APPRO CHANGE YEAR OVER YEAR APPRO CHANGE YEAR OVER YEAR APPRO CHANGE YEAR OVER YEAR APPRO CHANGE 5,581,190,000 224,900,000 224,900,000 224,900,000 224,900,000 0 0 0 0 0 0 0 0 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 1,930,000 STATE PRIMARY GUARANTEE STATE PRIMARY GUARANTEE 1,930,000 1,101,520 546,173 546,173 546,173 546,173 1,930,000 1,101,520 1,101,520 1,101,520 1,930,000 1,146,928 558,545 558,545 558,545 558,545 1,930,000 1,146,928 1,146,928 1,146,928 1,930,000 1,173,281 1,173,281 1,173,281 1,930,000 1,173,281 573,441 573,441 573,441 573,441 1,930,000 1,241,277 1,241,277 1,241,277 1,930,000 1,241,277 594,939 594,939 594,939 594,939 1,930,000 1,329,871 621,431 621,431 621,431 621,431 1,930,000 1,329,871 1,329,871 1,329,871 1,930,000 1,451,991 656,434 656,434 656,434 656,434 1,930,000 1,451,991 1,451,991 1,451,991 1,930,000 1,567,708 1,567,708 1,567,708 1,930,000 1,567,708 715,267 715,267 715,267 715,267 1,930,000 1,681,045 754,860 754,860 754,860 754,860 1,930,000 1,681,045 1,681,045 1,681,045 1,930,000 2,031,841 2,031,841 2,031,841 1,930,000 2,031,841 861,640 861,640 861,640 861,640 1,930,000 2,207,144 975,802 975,802 975,802 975,802 1,930,000 2,207,144 2,207,144 2,207,144 STATE PRIMARY GUARANTEE STATE SECONDARY GUARANTEE STATE SECONDARY GUARANTEE STATE SECONDARY GUARANTEE STATE PRIMARY GUARANTEE STATE SECONDARY GUARANTEE STATE TERTIARY GUARANTEE STATE TERTIARY GUARANTEE STATE TERTIARY GUARANTEE STATE TERTIARY GUARANTEE 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 PRIMARY COST CEILING PRIMARY COST CEILING PRIMARY COST CEILING 1,000 9,401 9,401 9,401 9,401 1,000 9,538 9,538 9,538 9,538 1,000 9,618 9,618 9,618 9,618 1,000 9,729 9,729 9,729 9,729 1,000 9,781 9,781 9,781 9,781 1,000 10,030 10,030 10,030 10,030 1,000 10,760 10,760 10,760 10,760 1,000 10,951 10,951 10,951 10,951 1,000 11,103 11,103 11,103 11,103 1,000 11,943 11,943 11,943 11,943 PRIMARY COST CEILING SECONDARY COST CEILING SECONDARY COST CEILING SECONDARY COST CEILING SECONDARY COST CEILING 1. 22,501 27,884 516 22,471 27,942 486 22,117 27,755 467 21,837 27,778 463 21,566 27,941 463 21,092 27,929 450 20,051 26,962 430 19,924 26,882 421 19,974 26,904 424 19,673 26,906 448 DISTRICT MEMBERSHIP DISTRICT MEMBERSHIP DISTRICT MEMBERSHIP 15,099 0.6% 0.0% 0.7% -0.8% 15,397 2.0% -0.1% 0.2% -5.8% 15,497 0.6% -1.6% -0.7% -3.9% 15,434 -0.4% -1.3% 0.1% -0.9% 15,486 0.3% -1.2% 0.6% 0.0% 15,477 -0.1% -2.2% 0.0% -2.8% 14,581 -5.8% -4.9% -3.5% -4.4% 14,825 1.7% -0.6% -0.3% -2.1% 14,841 0.1% 0.3% 0.1% 0.7% 14,943 0.7% -1.5% 0.0% 5.7% DISTRICT MEMBERSHIP % CHANGE IN MEMBERSHIP % CHANGE IN MEMBERSHIP % CHANGE IN MEMBERSHIP % CHANGE IN MEMBERSHIP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DISTRICT INTER MEMBERS DISTRICT INTER MEMBERS DISTRICT INTER MEMBERS 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4 0 0 0 0 0 0 0 0 0 0 0 DISTRICT INTER MEMBERS DISTRICT INTRA MEMBERS DISTRICT INTRA MEMBERS DISTRICT INTRA MEMBERS DISTRICT INTRA MEMBERS 263 163 124 90 60 35 24 516,000 486,000 4,149,468 467,000 4,024,606 463,000 4,041,527 463,000 450,000 4,063,500 430,000 4,196,800 421,000 4,189,371 424,000 26,906,000 448,000 4,902,464 303,519 DISTRICT PRIMARY COST DISTRICT SECONDARY COST 27,884,000 234,253,484 4,334,916 15,099,000 126,846,699 2,352,284 144,297,983 235,943,081 313,053,088 5,623,275 22,501,000 189,030,901 24,411,180 50,915,604 772,359 22,471,000 27,942,000 238,568,796 49,686,457 1,335,200 15,397,000 129,499,258 191,857,398 25,200,422 239,528,820 316,197,253 5,970,668 22,117,000 27,755,000 239,192,590 53,431,453 1,077,845 15,497,000 130,927,686 190,604,306 24,573,371 237,294,677 320,379,043 5,569,451 15,434,000 133,540,960 190,615,173 22,956,886 235,409,059 328,468,167 5,461,714 21,837,000 27,778,000 242,474,162 58,216,005 957,187 27,941,000 245,349,921 4,065,603 21,566,000 189,371,046 28,230,267 60,384,835 793,727 15,486,000 135,982,566 1,934,530 153,403,096 239,167,313 333,675,756 5,322,330 15,477,000 135,861,782 190,460,760 22,228,887 233,781,647 343,677,333 5,815,709 21,092,000 27,929,000 252,198,870 63,549,463 1,302,209 20,051,000 26,962,000 263,149,120 59,310,998 1,254,509 14,581,000 141,471,044 195,697,760 22,644,311 238,393,071 349,422,118 5,881,309 14,825,000 141,295,899 198,263,724 12,483,751 230,671,475 385,977,552 10.5% 19,924,000 26,882,000 267,502,782 91,592,770 1,231,655 26,904,000 271,811,112 4,283,672 19,974,000 201,797,322 7,201,389 98,657,481 761,889 14,841,000 149,938,623 525,817 165,305,440 228,972,711 397,372,593 5,469,561 14,943,000 163,521,249 10,386,816 188,851,065 14.2% 19,673,000 214,631,836 294,432,358 78,968,702 400,307,060 5,653,983 DISTRICT PRIMARY COST DISTRICT SECONDARY COST DISTRICT TERTIARY COST DISTRICT TOTAL SHARED COST % CHANGE IN SHARED COST % CHANGE IN SHARED COST % CHANGE IN SHARED COST % CHANGE IN SHARED COST DISTRICT PRIMARY COST DISTRICT SECONDARY COST DISTRICT TERTIARY COST DISTRICT TOTAL SHARED COST DISTRICT TOTAL SHARED COST DISTRICT TOTAL SHARED COST DISTRICT PRIMARY COST DISTRICT SECONDARY COST DISTRICT TERTIARY COST DISTRICT TERTIARY COST 0 0 0 0 0 0 0 156,120,899 5,842,026 144,896,258 146,424,686 148,974,960 151,338,782 156,052,044 234,304,836 3.8% 3.4% 2.1% 0.8% 0.4% 1.5% 1.0% 6.2% 1.1% -0.9% 1.3% -6.7% 1.7% -0.8% 2.5% -1.9% 3.0% 1.6% 1.6% -2.6% -1.3% -2.3% 3.0% 9.3% 3.1% 2.0% 1.7% 1.1% 0.0% -3.2% -0.7% 5.9% -0.7% 3.0% -6.4% 2.3% 0.7% 3.4% 11,227 10,898 11,316 12,285 11,543 11,926 11,825 11,796 11,942 11,495 12,305 12,924 12,960 13,677 14,358 13,877 14,770 12,900 14,878 12,621 DISTRICT SHARED COST/MEMBER 9,557 9,401 101.7% 111.5% 119.4% 115.9% 10,486 9,401 9,401 9,401 9,411 9,538 98.7% 111.8% 118.6% 128.8% 10,659 9,538 9,538 9,538 9,449 9,618 98.2% 111.6% 120.0% 124.0% 10,729 9,618 9,618 9,618 9,652 9,729 99.2% 110.8% 121.5% 121.2% 10,780 9,729 9,729 9,729 9,906 9,781 101.3% 113.4% 122.1% 117.5% 11,090 9,781 9,781 9,781 9,778 10,030 97.5% 110.5% 122.7% 128.9% 11,084 10,030 10,030 10,030 10,702 10,760 99.5% 110.5% 120.4% 127.1% 11,889 10,760 10,760 10,760 10,531 10,951 96.2% 105.7% 131.1% 126.7% 11,578 10,951 10,951 10,951 11,138 11,103 100.3% 103.2% 133.0% 116.2% 11,464 11,103 11,103 11,103 12,638 11,943 105.8% 99.7% 124.6% 105.7% 11,910 11,943 11,943 11,943 DISTRICT SHARED COST/MEMBER SECONDARY CEILING SECONDARY CEILING DISTRICT SHARED COST/MEMBER SECONDARY CEILING DISTRICT SHARED COST/MEMBER AS % OF SECONDARY CEILING AS % OF SECONDARY CEILING AS % OF SECONDARY CEILING AS % OF SECONDARY CEILING DISTRICT SHARED COST/MEMBER SECONDARY CEILING DISTRICT SHARED COST/MEMBER DISTRICT SHARED COST/MEMBER DISTRICT SHARED COST/MEMBER 2. 22,653,787,457 642,455,881 23,447,480,065 647,846,518 24,222,574,258 654,271,422 25,714,368,614 670,928,993 27,971,395,410 703,423,564 29,852,660,916 738,658,956 31,473,939,990 778,834,799 31,381,733,220 821,772,208 36,486,785,574 895,700,725 40,212,783,775 1,029,525,560 DISTRICT EQUALIZED VALUE DISTRICT EQ VALUE/MEMBER 7,985,836,624 354,910 812,430 1,245,070 546,173 6,976,418,444 462,045 546,173 546,173 546,173 148.7% 228.0% 8,253,953,961 367,316 839,148 1,333,018 558,546 7,139,496,228 463,694 558,546 558,546 558,546 150.2% 238.7% 8,616,332,759 389,580 872,728 1,401,009 573,441 7,322,246,995 472,494 573,441 573,441 573,441 152.2% 244.3% 8,920,730,694 408,514 925,710 1,449,091 594,939 7,719,182,109 500,141 594,939 594,939 594,939 155.6% 243.6% 9,438,283,690 437,646 1,001,088 1,519,273 621,431 7,947,275,550 513,191 621,431 621,431 621,431 161.1% 244.5% 10,186,945,404 482,977 1,068,877 1,641,464 656,434 8,471,652,607 547,370 656,434 656,434 656,434 162.8% 250.1% 10,744,250,194 535,846 1,167,344 1,811,244 715,267 9,069,257,856 621,991 715,267 715,267 715,267 163.2% 253.2% 11,548,587,737 579,632 1,167,388 1,951,953 754,860 9,559,191,236 644,802 754,860 754,860 754,860 154.6% 258.6% 13,435,841,367 672,667 1,356,184 2,112,502 10,561,477,636 711,642 861,640 861,640 861,640 861,640 12,116,687,131 810,860 975,802 975,802 975,802 975,802 14,748,891,540 749,702 1,494,566 2,298,048 DISTRICT EQUALIZED VALUE DISTRICT EQ VALUE/MEMBER AVERAGE VALUE PER MEMBER AVERAGE VALUE PER MEMBER DISTRICT EQUALIZED VALUE DISTRICT EQ VALUE/MEMBER AVERAGE VALUE PER MEMBER DISTRICT EQUALIZED VALUE/MEM AS % OF STATE AVERAGE AS % OF STATE AVERAGE AS % OF STATE AVERAGE AS % OF STATE AVERAGE DISTRICT EQUALIZED VALUE DISTRICT EQ VALUE/MEMBER AVERAGE VALUE PER MEMBER DISTRICT EQUALIZED VALUE/MEM DISTRICT EQUALIZED VALUE/MEM DISTRICT EQUALIZED VALUE/MEM 3. 82.6% 78.1% 157.4% 245.2% 83.1% 76.8% 153.2% 235.5% 84.6% 65.0% 83.0% 65.8% 82.4% 67.9% 84.1% 68.7% 82.6% 70.4% 83.4% 73.6% 87.0% 74.9% 85.4% 76.8% 183,120 150,327 -673,253 127,998 -781,157 115,367 -676,629 98,531 67,275 -530,255 26,458 -651,952 0 0 0 DISTRICT PRIMARY AID 11,484,171 73,639,373 362,325 85,485,870 155,036,537 52,804,114 183,120 18,363,094 128,124,983 8,548,460 -24,821,067 -988,330 16,146,139 61,479,042 -564,924 11,697,673 77,143,777 130,412,973 8,627,868 157,235,015 54,851,528 150,327 18,194,174 15,792,903 64,020,245 -24,961,619 -1,851,375 11,702,983 78,201,544 127,315,429 7,878,932 152,846,780 48,590,217 127,998 17,652,418 15,204,305 61,272,566 -27,886,654 -1,555,506 11,434,320 79,733,940 127,882,077 7,193,535 152,290,316 43,731,354 115,367 17,214,703 14,454,361 61,643,640 -32,366,647 -1,374,230 16,675,546 127,051,115 8,348,948 -36,891,519 -1,146,774 11,368,137 83,507,581 336,951 95,212,669 152,075,610 37,214,148 98,531 13,447,927 60,657,740 -579,030 11,087,442 84,644,710 127,107,735 5,873,782 148,795,163 39,076,399 67,275 15,813,646 12,461,187 66,543,808 -39,928,596 -1,954,066 9,881,813 85,342,066 128,807,845 5,680,201 148,971,945 40,370,709 26,458 14,483,899 10,654,162 67,203,421 -37,486,874 -1,922,235 9,871,961 87,098,716 129,901,439 2,897,906 146,739,494 42,304,331 13,940,149 10,621,938 81,737,572 -50,055,178 -1,953,220 13,012,306 134,989,836 1,579,387 -56,625,166 -1,106,050 9,368,647 97,423,429 91,538 106,883,613 149,581,529 41,760,214 7,998,857 90,386,524 -170,055 8,664,845 103,446,804 1,755,696 113,867,344 153,758,781 59,146,009 12,030,978 141,727,804 95,057,721 -41,982,018 -411,280 6,070,306 -201,914 DISTRICT PRIMARY AID DISTRICT SECONDARY AID DISTRICT TERTIARY AID DISTRICT TOTAL EQUALIZATION AID DISTRICT TOTAL EQUALIZATION AID DISTRICT TOTAL EQUALIZATION AID DISTRICT TOTAL EQUALIZATION AID DISTRICT PRIMARY AID DISTRICT SECONDARY AID DISTRICT SECONDARY AID DISTRICT PRIMARY AID DISTRICT SECONDARY AID DISTRICT TERTIARY AID DISTRICT TERTIARY AID DISTRICT TERTIARY AID -675,136 0 0 0 0 0 0 0 0 0 0 88,841,450 89,904,527 91,168,260 95,732,152 95,223,879 96,970,677 35.5% 30.9% 27.4% 24.9% 21.3% 14.9% 6.2% 0.0% 0.0% 0.0% PRIMARY TIER AID/COST RATIO 81.6% 67.8% 35.0% -48.7% -128.0% 57.9% 26.2% -13.0% 76.1% 58.1% 15.4% 59.2% 65.7% 16.9% 3.3% 81.0% 68.0% 34.2% -50.2% -138.7% 56.5% 26.8% -16.2% 76.0% 59.6% 0.0% 61.3% 65.6% 17.3% 2.5% 79.8% 66.8% 32.1% -52.2% -144.3% 54.8% 25.6% -19.4% 75.5% 59.7% 0.0% 61.4% 64.4% 15.2% 2.3% 78.8% 67.1% 31.3% -55.6% -143.6% 52.0% 25.4% -16.7% 74.1% 59.7% 0.0% 61.2% 64.7% 13.3% 2.1% 77.3% 67.1% 29.6% -61.1% -144.5% 48.1% 24.7% -14.2% 73.4% 61.4% 17.4% 62.1% 63.6% 11.2% 1.9% 75.0% 66.7% 26.4% -62.8% -150.1% 44.6% 26.4% -13.0% 71.6% 62.3% 0.0% 63.3% 63.6% 11.4% 1.2% 72.2% 65.8% 25.1% -63.2% -153.2% 39.5% 25.5% -15.5% 67.8% 60.3% 0.0% 61.0% 62.5% 11.6% 0.4% 70.0% 65.5% 23.2% -54.6% -158.6% 39.5% 30.6% -16.1% 66.6% 61.6% 0.0% 62.1% 63.6% 11.0% 0.0% 65.1% 66.9% 21.9% -57.4% -145.2% 29.7% 33.3% -4.0% 63.1% 65.0% 17.4% 64.7% 65.3% 10.5% 0.0% 61.2% 66.0% 0.0% -53.2% -135.5% 58.0% 63.3% 16.9% 60.3% 65.6% 14.8% 0.0% 22.6% 32.3% -4.1% PRIMARY TIER AID/COST RATIO SECOND TIER AID/COST RATIO SECOND TIER AID/COST RATIO PRIMARY TIER AID/COST RATIO SECOND TIER AID/COST RATIO TERTIARY TIER AID/COST RATIO TOTAL AID/COST RATIO TOTAL AID/COST RATIO TOTAL AID/COST RATIO TOTAL AID/COST RATIO PRIMARY TIER AID/COST RATIO SECOND TIER AID/COST RATIO TERTIARY TIER AID/COST RATIO TERTIARY TIER AID/COST RATIO TERTIARY TIER AID/COST RATIO 231,867 202,412 171,830 139,486 118,095 116,857 130,053 133,035 113,080 96,118 DISTRICT SPECIAL ADJUSTMENT AID 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DISTRICT SPECIAL ADJUSTMENT AID DISTRICT INTER AID (CHAP 220) DISTRICT INTRA AID (CHAP 220) DISTRICT SPEC ADJ+CHAP 220 AID DISTRICT SPEC ADJ+CHAP 220 AID DISTRICT SPEC ADJ+CHAP 220 AID DISTRICT SPEC ADJ+CHAP 220 AID DISTRICT SPECIAL ADJUSTMENT AID DISTRICT INTER AID (CHAP 220) DISTRICT INTER AID (CHAP 220) DISTRICT SPECIAL ADJUSTMENT AID DISTRICT INTER AID (CHAP 220) DISTRICT INTRA AID (CHAP 220) DISTRICT INTRA AID (CHAP 220) DISTRICT INTRA AID (CHAP 220) 498,046 498,046 231,867 384,021 384,021 202,412 320,017 320,017 171,830 256,014 256,014 139,486 192,010 192,010 118,095 128,007 128,007 116,857 64,003 64,003 130,053 6,295 6,295 133,035 113,080 96,118 25/3 DISTRICT GENERAL AID TOTAL DISTRICT GENERAL AID TOTAL DISTRICT GENERAL AID TOTAL 85,485,870 155,036,537 53,302,160 414,986 -15.0% 88,841,450 157,235,015 55,235,549 352,738 -15.0% 299,828 254,853 216,625 95,732,152 148,795,163 39,204,406 184,132 -15.0% 148,971,945 40,434,712 156,512 96,970,677 146,739,494 42,310,626 133,035 -15.0% 149,581,529 41,760,214 113,080 96,118 DISTRICT GENERAL AID TOTAL % CHANGE IN GROSS GENERAL AID % CHANGE IN GROSS GENERAL AID % CHANGE IN GROSS GENERAL AID % CHANGE IN GROSS GENERAL AID 89,904,527 152,846,780 48,910,235 -11.5% -15.0% 91,168,260 152,290,316 43,987,368 -10.1% -15.0% 95,212,669 152,075,610 37,406,158 -15.0% -15.0% 95,223,879 -0.5% -15.0% 106,883,613 10.2% -15.0% 113,867,344 153,758,781 59,146,009 41.6% -15.0% 2.4% 1.3% -3.5% 3.9% 1.4% 3.6% 1.2% -2.8% 1.4% -0.4% 4.4% -0.1% 0.5% -2.2% 4.8% 0.1% 3.1% 1.8% -1.5% 4.6% 1.9% -1.3% 6.5% 2.8%

Final 2023-24 EQ Aid Tertiary Aid Negative Tertiary Aid 113 202 Negative Secondary Aid Secondary Aid 62 Source: Department of Public Instruction Primary Aid No Equalization Aid 12 32 26/3

Northern WI: No Aid / Primary Aid only / Negative Tertiary Aid Central WI: Mix of Positive Secondary and Tertiary Aid Southern WI: Positive and Negative Tertiary Aid Islands of No Aid / Primary Aid only dpi.wi.gov/sfs/statistical/finance-maps/overview 27/3

Equalization Aid By Type 21 22 21 23 27 32 43 No Aid 36 30 30 27 20 12 7 62 65 75 40 40 26 38 225 220 214 Primary Only 217 202 199 195 Pos. Prim. & Sec. Positive All 118 116 113 111 110 110 101 Negative Tertiary Data for 2024-25 not finalized 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 28/3

Equalization Aid By Tier 22-23 Final $ 5,201,590,000 $ 513,737,225 23-24 Final $ 5,356,290,000 $ 470,498,245 24-25 Oct 15 $ 5,581,190,000 $ 424,657,094 Appropriation Total YOY % of Appn Total YOY % of Appn Total YOY Total YOY Total -2.1% -8.4% -9.7% Primary Aid 9.9% 8.8% 7.6% $ 4,527,967,553 $ 4,777,230,639 $ 5,008,442,202 3.81% 5.50% 4.84% Secondary Aid 87.0% 89.2% 89.7% $ -375,746,639 $ -416,909,001 $ -500,841,616 Neg. Tertiary Aid -2.6% 11.0% 20.1% $ -219,642,932 $ -299,829,281 $ -359,968,553 Tertiary Aid (net) -19.3% 36.5% 20.1% 29/3 $ 10,124,153,027 $ 10,252,399,232 $ 10,980,177,538 Shared Cost

Aid Worksheets How can I predict future aid amounts? SFS Home Current and historical July 1, October 15, and Final Aid worksheets (and Final Aid adjustments) Longitudinal Aid Data 30/3

Questions? DPI School Financial Services Team https://dpi.wi.gov/sfs dpifin@dpi.wi.gov 608-267-9114 Jennifer Buros, Director Ben Kopitzke, Finance Consultant 608-266-1966 608-267-9279 31/3