Voters: A Very Strong 'Yes' for School Referendum

Shorewood School District’s referendum passed Tuesday night with an overwhelming "yes" from voters.

Final results showed 63 percent of voters supported the measure allowing the school district to borrow up to $13.645 million to refinance its Wisconsin Retirement System debt at a lower interest rate and fund a trust to pay for retiree benefits other than pensions. The final tally was 3,231-1,867.

School Board President Paul Zovic said the result is an indication of what residents in Shorewood value.

“We know where our community is with the value of education,” he said. “We now have some certainty … but we have some work to do and I’m anxious to move forward.”

The work he’s talking about is addressing a $1.9 million budget gap as a result of Gov. Scott Walker’s 2011-13 proposed budget and the cut in state aid it calls for. What Zovic has called the largest single budget gap filler — the referendum — will decrease the district’s deficit to $1.3 million.

“I am confident that we can find a way to address the remaining open part of the budget without changing Shorewood’s education,” Zovic said.

School officials have said even though they can borrow up to $13.645 million, the district will borrow no more than $11.645. The retiree benefit liablity has decreased as a result of concessions made by .

The district won't be allowed to increase its tax levy other than through the referendum as it's frozen under the governor's budget. Property owners will see the district's portion of the property tax bill increase no more than 21 cents per $1,000 of assessed property, or $63 for a home assessed at $300,000 for next year's tax bill.