Schools
School Board Continues Cutting Costs
The school district continued trimming back by pre-paying debt and signing a new busing contract.
The Menomonee Falls School Board continued its proactive approach to cutting costs Monday with two key additional approvals.
The board put the biggest dent into its post-retirement obligations by switching from providing a health care plan to a tax sheltered annuity. The move will save more than $6 million over the next three decades. Read more about the tax sheltered annuity on Patch.
However, the School Board also approved a debt defeasance and bussing contract, which also shrunk costs. In last yearβs budgeting cycle, the board levied dollars to pre-pay a portion of its outstanding debt. The transfer was executed, and will save the district $14,000 in interest payments, and will reduce future levies by $365,000.
Find out what's happening in Menomonee Fallswith free, real-time updates from Patch.
The School Board also approved a busing contract with Johnson School Bus Service, which has served the district since the late 1940s. The contract reduces pupil cost by an estimated $70,000, and reworking and combining routes will create an additional $180,000 in savings, said Superintendent Patricia Greco.Β
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