The Oconto Falls School Board heard welcome news from its auditor Jan. 13 regarding its post-employment obligations.
Dave Maccoux of Schenck Associates said previous reports had overstated the district’s liability because payments for sick leave were also counted as post-employment obligations. When employees retire, they may use some of their acquired sick leave to pay health insurance claims, he explained.
“Because it’s based on their earnings as an employee, it is really not a post-employment benefit, but basically a sick-leave payout,” Maccoux said.
Correcting this miscalculation reduced the projected liability costs by about $1.5 million.
“The change is huge. Is there anything else you can find like that?” School Board member Charles O’Harrow said, drawing a laugh.
Maccoux said the district had a good budget year, and the audit did not uncover any significant concerns.
“The audit went very well,” Maccoux said, complimenting the staff for its cooperation.
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