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District faces about $3.5M chargeback from city/Froedtert settlement; staff recommends hybrid payment plan
Summary
Staff told the committee the district must pay roughly $3.5 million by mid‑February because of a city–Froedtert assessment settlement; staff recommended a hybrid approach (pay now from fund balance with a standby borrowing resolution) to manage cash flow and statutory approvals.
District finance staff told the committee that a settlement between the city and Froedtert Hospital reduced Froedtert’s assessed value for prior years and created a chargeback the district must pay — approximately $3.5 million — with payment required by mid‑February. Staff said the payment cannot be recouped until the next year’s revenue‑limit process and therefore…
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