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Tax
reduction
or
robbery
The
2005-06 budget increases was $10 million and increased
taxes by 11%. How can this year's budget increase of $14
million only increase taxes by 1.6%?
Is
the 1.6 % a tax deduction or reconfiguration robbery?
... You Decide!
The
Board has declared the reconfiguration can not be completed
because they ran out of money if the budget passes. If
the Budget fails the reconfiguration continues. To date
they have offered no proof and remain moot on the subject.
This action created a one time $4million cash infusion
if the budget passes and nothing if the budget fails.
How can the difference between a passes and failed budget
determine if we have enough money to complete a Bonded
Project?
Last
year the Board underestimated state aid by $4 million
and only spent $250 million of the $252 million budgeted.
This created an additional $6 million of surplus. If the
Budget passes the Board will returned the surplus if not
they will keep the money in their own bank accounts.
Using
the $4 million of Bond money and $6 million of surplus
cash if the budget passes and not using the money if the
budget fails Is the method the Board used to create a
1.6% tax increase on a $14 million budget increase.
This
summation actually assumes the best of the Board's intentions.
If it is not true the only other answer to the boards
decision to cut student services by $6 million to increase
reserves from $18 million to $24 million is they consider
holding $1000 of your money more important than sports,
co-curricular and curriculum. I find this hard to believe.
Particularly since they don't have to reserve a dime.
I believe the entire reserve scam is a plan to increase
future budgets by $6million.
This
year to replace 100% of 2004-5 year's programs we faced
an 18% tax increase. The entire increase was caused by
teacher and administrator raises that Kiernan voted for.
The Union give a way resulted in an 11 % tax increase
and cuts to students. That convinces me that staff means
more to the Board than students and tax payers.
The
Board also used their power of estimation to determine that they can't complete
the $228 million reconfiguration If the Budget passes. However, they may be
able to keep the project alive if the budget fails. For
the life of me, I can't figure what a passed or failed budget has to do with
a bonded capital improvement?
This
maneuver will create an additional $4 million of fund balance if the Budget
passes. If the Budget fails the money stays in the reconfiguration account.
The
real insult is ... what will they do with the money if the budget passes?
The bond principal and interest will be applied to this year's
$17,348,675 debt payment without paying down any additional debt. That means
we will be carrying $4 million of extra debt for 15 years. Why
... To "free up" $4 million, pass the budget, give the union more
& re-elect the leaders.
click
http://www.sachemunspun.com/budgetsummarypage.htm
go
to 07-06 budget page 32
Lines
698 & 698 Ser Bonds E
Passes 06-7 Budget $17,348,675
F contingent 06-7 budget $17,348,675
the
principal and interest will not be used to further reduce debt. All it does
is free up fund balance.
Click
on http://www.sachemunspun.com/budgetsummarypage.html
and
go to the following budget pages for the district's numbers
behind our finding
See
Revenue page Debt Service Interest 1,536,397 & Interfund
Transfer - Debt Service 2,500,000 (That's $4 million of
the $6 million remaining reconfiguration Bond money.)
Also
note 07-06 page 32, Lines 698 & 698 Ser Bonds-School
Const E (Passed) $17,348,675 F(contingent) $17,348,675.
The principal and interest remains the same if the budget
passes or fails. This
frees up $4million of fund balance and costs you additional
interest.
See
2006-7 Revenue page Appropriated Fund Balance 6,000,000
Is Part Of Last Years Surplus
Est
State
aid at the time of the 03-4 Budget vote $91,485,885
Actual aid collected
$97,100,566
Est
State
aid at the time of the 04-5 Budget vote $100,360,207
Actual aid collected $102,782,249
Est
State aid at the time of the 05-6 Budget vote $100,924,173
Actual
aid collected $104,213,693
The
info was obtained from 2006-7 revenue page, page 36 of
the 05-06 revote Budget, page 37 of the 04-05 revote Budget
& page 34 of the 03-04 Budget page
During
the last 3 years the district managed to under estimate
state aid by $12 million dollars or approximately $500
per tax payer. This resulted in us paying $500 more than
we should have or that the district claimed they needed.
We need honest estimations and to curb bad spending habits
before we ask others for more money.
For
reserves See 06-7 reserves
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