Wauwatosa board authorizes up to $16.5M in short‑term borrowing, hears positive year‑end results and approves emergency chiller repair

The Wauwatosa School District board voted on Sept. 22 to authorize temporary note borrowing of up to $16,500,000 to cover expected cash‑flow needs before property tax and state aid arrive. Mr. Acker (finance) said participating in a pooled instruments program (PMA) offers lower fees and reinvestment advantages compared with a local bank line of credit. The motion passed by roll call.

Mr. Acker also reviewed that the 2023–24 fiscal year closed slightly better than the original and revised budgets, citing higher revenues from a state social‑worker grant and revenue tied to the juvenile detention facility at Bell Phillips. He noted the district has already borrowed $15,000,000 of an approved $60,000,000 referendum plan and expects to borrow the remaining $45,000,000 in calendar year 2026.

Separately, the board approved an emergency contract to replace a failed variable‑speed drive system for a centrifugal chiller at Wauwatosa West High School to restore full cooling capability. Administration said the replacement will be funded from Fund 49, which the board has reserved for emergency deferred maintenance rather than preventative maintenance.

All three motions (cash‑flow authorization, chiller replacement, and consent agenda remainder) were carried by roll call with the same voting pattern: a majority of yes votes and two excused members.