{"id":9507,"date":"2013-09-07T08:32:35","date_gmt":"2013-09-07T13:32:35","guid":{"rendered":"http:\/\/lincolndemocrat.com\/?p=9507"},"modified":"2017-02-27T05:58:18","modified_gmt":"2017-02-27T10:58:18","slug":"our-ten-percent-reserve","status":"publish","type":"post","link":"https:\/\/lincolndemocrat.com\/?p=9507","title":{"rendered":"Our Ten Percent Reserve"},"content":{"rendered":"<p>One item jumps out at me from Art Johnston&#8217;s op ed piece:<\/p>\n<blockquote><p>We have gone from a $24 million fund balance in 2007 to what Moody&#8217;s Investors Services predicts to be a likely deficit by the end of 2014. In other words, we are very close to bankruptcy.<\/p><\/blockquote>\n<p>I was one of the architects of that ten percent reserve. Its slow disbursement means that from Dr. Dixon&#8217;s day to today The District has dipped into the reserve by an average of $3 million a year to keep a classroom disaster at bay. (although with 40 kids in the class the disaster is already well under way) <\/p>\n<p>This is the last year we can draw from my old reserve to keep even more drastic cuts away from the classroom. After today&#8217;s School Board spends it down we will have to take $3 million more a year from the classroom to pay off the Red Plan bonds. <\/p>\n<p>Pray the referendum (both of them) pass\/passes.<\/p>\n<p>If the first renewal referendum doesn&#8217;t pass it won&#8217;t just be the $3 million from the depleted reserve that is cut from our classrooms it will also be the lost referendum levy money. We&#8217;ll start looking like <a href=\"https:\/\/www.google.com\/url?sa=t&#038;rct=j&#038;q=&#038;esrc=s&#038;source=web&#038;cd=2&#038;cad=rja&#038;ved=0CDUQFjAB&#038;url=http%3A%2F%2Fwww.huffingtonpost.com%2F2012%2F04%2F13%2Fdetroit-public-schools-layoffs-4100-teacher-jobs_n_1423757.html&#038;ei=nDgrUoPDNtDyyAGIuYHYBQ&#038;usg=AFQjCNFSGrZSm9A7ovlziD6jDWjQFFcHOQ&#038;sig2=qpwMV6zDoT0XANUgGBCl3w&#038;bvm=bv.51773540,d.aWc\">the Detroit Schools<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One item jumps out at me from Art Johnston&#8217;s op ed piece: We have gone from a $24 million fund balance in 2007 to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/posts\/9507"}],"collection":[{"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9507"}],"version-history":[{"count":16,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/posts\/9507\/revisions"}],"predecessor-version":[{"id":20024,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=\/wp\/v2\/posts\/9507\/revisions\/20024"}],"wp:attachment":[{"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lincolndemocrat.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}