Lower borrowing rate will save school district money

The Northern Ozaukee School District will save a few dollars, thanks to falling interest rates.

The NOSD School Board on Monday approved borrowing $1 million in Tax and Revenue Anticipation Notes, or TRANS funds, from Port Washington State Bank at 2.2%, compared to 3.5% in 2019.

The lower interest rate will save the district about $7,800 through October, Director of Business Services Josh McDaniel said.

TRANS borrowing is necessary for many school districts to maintain cash flow until they receive state-aid allotments in November.