Source: Lake Geneva Regional News

Schools can't manage money either
December 02, 2011 | 03:30 PM


"Administrator Brzinski, Sandy Kulik, and Lisa Green appeared for Woods School. Kulik proposed borrowing a tax anticipation loan from the Town rather than a bank, possibly $500,000 - $700,000. Periodic draws over seven months. Would pay for legal fees on the loan. Would pay interest to the Town of 1/4% over the LGIP rate which is currently .22%. Doesn’t know if this has any influence on our levy cap. Presenting to Town of Linn in December. Need legal opinion. New concept, currently Elmbrook is the only school district in the state doing this. Not needed until August. Will call to be placed on a future agenda."

Copied from November 8, 2010 Town of Geneva minutes.