A multimillion-dollar investment earned the Waukesha School District about $83,000 less for the last three months than it has been accruing in debt payments for loans used to finance the deal, according to information released by the district this week.
The district’s $65 million investment in complex financial instruments earned it about $135,136 for the fiscal quarter that ends this month.
But that amount is offset by payments the district makes on a semiannual basis for $15.67 million borrowed in 2006. Those district payments – on debt fixed at a 5.58% interest rate – average about $218,000 per quarter.
For the last quarter, none of the district’s investments returned income at a higher rate than 3.55%, according to data provided by district Controller Jason Demerath.
It was the first quarterly loss for the investment, and the district ended up $192,500 in the black for the financial year that ends this month, figures for the district show.
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