Monday, July 9, 2012
Wind Point Elementary was almost closed earlier this year, but with long-term structural deficits plaguing the Racine Unified School District, it might be back on the chopping block.
Racine Unified School District officials are looking at possibly closing at least one elementrary schools to avert an impending long-term structural deficit in the 2013-14 school year. Administrators and several Racine Unified School Board members discussed the impact of vouchers on their budget 2012-13 budget and future budgets, the possibility of school closures, and the need for a marketing strategy at their Audit Committee meeting held Monday. Wind Point Elementary, a school that district administrators wanted to close earlier this year but was spared, may be on that list next year because of anticipated budget shortfall. Goodland Elementary was also on that closure list, but it wasn't specifically mentioned at the meeting. David Hazen…
Monday, June 25, 2012
Officials say spending increased because of a reduction in less state funding and undertaking $33.8 million in facility improvements. The bottom line is the school portion of your tax bill will increase.
Racine Unified School District taxes would increase more than 6 percent for 2012-13, based on the interim budget the board meeting is expected to adopt at its meeting tonight. If approved, the school district would raise the estimated property tax rate by $.57 per $1,000 equalized value of their property, or 6.42 percent, to $9.51 per $1,000 equalized value. This means if your home is worth $250,000, you would pay $2,377.50 on the school portion of your tax bill. “The Board approves the Interim budget as the District’s spending plan until the Original budget is approved in October,” wrote David Hazen in a memo to the School Board. “The 2012/2013 Interim budget is used to start the fiscal year and is used to prepare for cash flow borrowing…
Tuesday, May 22, 2012
With a backlog of almost $90 million in infrastructure improvements, the Racine Unified School District is trying to pay for additional improvements with energy savings.
Over $42 million in capitol improvement projects that promise energy efficiency for Racine Unified Schools won't increase your tax bill, but it won't decrease either. According to a story in The Journal Times, the Racine Unified Board of Education will borrow money outside the revenue cap, something allowed under a new state law. The law also requires the district show there's a payback for making the upgrades. The district expects the energy and operational savings from the projects to cover the payments for the $42 million bond. “(Johnson Controls and Trane) basically need to guarantee that (the savings) is going to happen; it’s part of the negotiations,” said David Hazen to the School Board last month. The District also plans to …
Tuesday, October 25, 2011
To facilitate the sale of the previous administration center, board members approved a one-year loan.
To close the sale of the former Racine Unified adminstrative center, Unified board members approved a bridge loan with a 6-1 vote. Dennis Wiser was the lone objection. The short-term loan totals $400,000, the majority of the $500,000 sale price. According to David Hazen, chief financial officer for the district, HKH Holdings is going to buy the property and requested the short-term loan. Terms of the loan include four quarterly payments at four percent interest to pay it off in a year. Approving the loan moves the sale, which is scheduled to close on Wed., Oct. 26. The old Administrative Service Center building is located at 2220 Northwestern Ave.
Tuesday, October 11, 2011
Complete report due out next month.
A report of the Racine Unified School District’s expenditures on its move to the new Administrative Center, at 3109 Mt. Pleasant St., will be complete in November, Hazen said. Current statements show expenditures of $330,862 over the budgeted $5.95 million for the move. But, Hazen said, while the district may be over budget on expenditures, it invested more money because it saw the potential for more savings. “I want to be held accountable for our projections,” Hazen said. “It would make sense to invest $300,000 [in expenditures] to get $1.4 million [in savings].”
Tuesday, September 13, 2011
Officials hope that deductible changes that drove many to doctors' offices tapers off and there will be less claims.
The Racine Unified School District has a $3 million hole in its budget this fiscal year because of staff health care insurance claims. However, David Hazen, Chief Financial Officer for Racine Unified, said he expects the number of claims in this fiscal year to be less than in the previous year, which could offset the $3 million gap. If everything proceeds according to what Hazen is thinking, there would be virtually no net increase of claims between last year and this year. Hazen presented these findings as part of a monthly financial update to the Board of Education Audit Committee on Sept. 12. In anticipation of sharp cuts in state school funding, RUSD increased the deductibles that employees would pay starting July 1. The district’s …