Friday, November 09, 2007

Olentangy's Five-Year Forecast: the real story (part 2)

Part 2 of the Olentangy Five-Year Forecast series. More to come.

Troublesome point 1: This year the board borrowed $1,740,000 from the general fund in order to pay for design/site fees for schools that the voters haven't even approved. Then, they return the money to the general fund next year based on the assumption that the bond issue proposed for next March has already passed. Funny, the issue isn't even on the ballot yet. Interesting assumptions. Interesting finances.

Look, don't the voters decide when and if a bond levy gets approved? And, why take the money from the general fund when there are bond residuals and bond interest income that could have been used? Hmm.

But, more importantly, why spend money on projects that the voters have not yet approved. Could it be arrogance?

Troublesome point 2: The board-approved forecast spells out the fact that salaries and benefits are based on residual funding. In other words, the board gives the unions all the funding it has available; letting the unions split between salaries and benefits.

Currently, the typical teacher receives a 6% annual raise, plus increases in taxpayer funded benefits. This forecast shows raises once again in the 6% range, plus healthcare increases of 12%. So, if healthcare comes in at less, the teachers will get more. And, the taxpayer gets shafted either way.

Keep this in mind in March, any increase in taxes will simply flow to salaries and benefits. Why? The residual balance will be bigger, so more can -- will -- be given away.

1 comment:

Tangyallmylife said...

Will they be cutting sports, and what are they spending all OUR money on to create yet another levy?