The Milwaukee School Board has spent 20 years ignoring a "fiscal time bomb" in the form of generous and unfunded health insurance benefits for retired MPS teachers and staff that will cost the district $5 billion by 2016, according to a new report by the Wisconsin Policy Research Institute.
On Monday, the president of the conservative institute that conducted the report, George Lightbourn, said the study raises serious questions about the School Board's ability to provide financial oversight of the district and that it lends support to changing the governance structure of MPS.
The report comes in the same week that the Legislature is expected to convene a special session to consider a bill that would give the Milwaukee mayor power to appoint a superintendent and authority over the district's budget.
"Even if the mayor took over (the school system), the mayor would have to deal with this thing," Lightbourn said. "But it's more likely that somebody who has a different approach to this might actually look at this and if nothing else say: 'We have to slow down these costs.' "
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