Funding Plan for Energy Project Comes Under Fire

A former Shorewood School Board member wants a referendum on a $6 million borrow approved last month by the current board for an energy efficiency project.

The estimated $5.9 million energy project, approved by the School Board on Sept. 11, is expected to pay for itself over time as the district begins to reap the benefits of lower utility costs.

According to ShorewoodNOW at Tuesday’s meeting, Emily Koczela, the finance director for the Brown Deer School District, voiced her concern to the board.

Under state guidelines the district is allowed to issue bonds in an amount exceeding $1 million for energy or operational savings projects and levy more than its revenue limit allows in future years to pay off the debt, but the School Board along with the state Department of Instruction will have to approve a revenue limit exception each year.

Koczela said should a later board or the DPI decide to not approve the revenue, the district would be forced to pull funds from the general fund, typically used to finance classrooms operations, the newspaper wrote.

She is attempting to collect 1,200 signatures — the amount needed to force the matter to a referendum — via the email shorewoodenergypetition@gmail.com by the Oct. 11 deadline set by state law.

School officials said they would meet with the district's financial advisor to discuss their options. An estimated , would provide a corresponding decrease in the resident tax levy that could reduce the borrow to $5.5 million. Officials could put a minimum of $500,000 of the levy reduction toward the project.