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District 15 doesn't need the money
October 15, 2010
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What's the bottom line on the
bond referendum? District 15 doesn't need
the money...
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District 15 had a fund balance
of $55.5 million at the end of the fiscal year that
ended June 30, 2010 (see
blue line in the chart on
the right). But the Board-approved target is to maintain
a fund balance that is 30% of expenditures, which
means the target balance would be $41.0 million
(the red dashed line). So District
15 already has
excess reserves of $14.5 million more than its
targeted level.
If the Board decides that some
of the $16 million project list is urgent and
important, there is more than enough money
available to approve urgent projects now.
But not everything is rosy. Long
term forecasts this year have shown 5-year deficits of $25
million or $55 million depending on which forecast
you believe. The District Board and
Administration should start working now to fix this
long-term problem.
In the short-term
the District does not need any more money,
let alone the $27 million that would be authorized
if the Bond Referendum is approved by voters.
Vote No to the bond
referendum in November and
tell the
District 15 Board and
Interim Superintendent Thompson that you want a plan
for a balanced budget without raising taxes.
–
Scott Herr
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