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This Just In ...

Kevin Fischer is a veteran broadcaster, the recipient of over 150 major journalism awards from the Milwaukee Press Club, the Wisconsin Associated Press, the Northwest Broadcast News Association, the Wisconsin Bar Association, and others. He has been seen and heard on Milwaukee TV and radio stations for over three decades. A longtime aide to state Senate Republicans in the Wisconsin Legislature, Kevin can be seen offering his views on the news on the public affairs program, "InterCHANGE," on Milwaukee Public Television Channel 10, and heard filling in on Newstalk 1130 WISN. He lives with his wife, Jennifer, and their lovely young daughter, Kyla Audrey, in Franklin.

UPDATE: $1.52 million


On Wednesday, I blogged that the non-partisan Wisconsin Legislative Fiscal Bureau (LFB) has produced a memo providing data on the potential annual retirement savings for public employers associated with higher employee contributions for retirement benefits as a result of the approval of the state budget repair bill.

The projected savings for school districts are based on 5.8% of the 2009 Wisconsin Retirement System covered payroll data for each employer. The LFB writes “the estimates reflect projected savings if the employer currently picks up all of the employee-required share of retirement contributions.”

The Franklin School District stands to save a bundle under Governor Walker’s budget repair bill:

$1,522, 600.

Yeh, Kevin, but Governor Walker’s gonna cut millions from each school district so what difference does it make, huh?

Legitimate question, except that the $1.522 million dollars in retirement savings to the Franklin school district isn’t the whole story. Today, the governor’s office released even more LFB figures comparing school district general aid reductions vs. fringe benefit savings. Let’s look at Franklin:

Health insurance savings: $1,102,564

Pension contribution savings:  $1,522,588

Total fringe benefits savings (Add the above two): $2,625,152

Now let’s compare to state aid the district will receive.

During fiscal year 2010, the Franklin school district received state aid of $15,127,275

Under Governor Walker’s proposed budget, Franklin would receive during fiscal year 2011 state aid of $13,571,475. That’s a loss of $1,555,800.

$1,555,800 less in state aid.

 

The total savings to the Franklin school district as a result of the budget repair bill according to the state budget office in the report relased by the Governor would be $165,597 meaning NO SPENDING CUTS WOULD BE NECESSARY.

That means no reason for any huge property tax levy increase.

Here are figures for all school districts in the state.

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