I got this email from a friend who was pretty unimpressed with the School Board’s dim response to running out of financial cushion:
“About $4.5 million is annually transferred out of the general fund into the debt service fund for the long-range facilities plan, with the expectation that it’s replenished when properties are sold. That didn’t happen last year”
Remember how AW, TG, J S-P would roll their eyes when Gary and Art would question why the general fund was being used to pay for the RP and would insist this was not happening?
And, the RP was supposed to be saving the district $5 mil/year. So looks like they are really $9.5 mil/year short
The Initials stand for Ann Wasson, Tim Grover and Judy Punyko-Seliga and they did deny that classroom money was being used to pay for the Red Plan. I wonder how Katie Kauffman the Goebbles of the District mistakenly permitted the Trib to report that $4.5 million was being siphoned out of the classroom each year into Red Plan Bonds?
My wife’s reaction to the story was similar. She scoffed to read that the District was foolish enough to plan a budget based on anything so speculative as being able to sell its schools for millions of dollars. They got lucky with Woodland and the three million that will fetch. They sold Lincoln for one dollar. We’ll see what Central goes for. It sounds like the City won’t let it automatically go to the highest bidder.
