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 year’s 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 


Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.

We’ve removed the ability to reply as we work to make improvements. Learn more here