The district claims it needs a $24.4 million bond levy, yet ... there is always a yet in Olentangy.
Last year, the district transferred $12 million from its building fund (you know, the fund that is supposed to be used for the projects listed on the ballots) into its permanent improvement fund. Why? So that the district can claim that it needs additional bond revenue while it squirrels away residual revenue from past issues.
This is criminal -- Wade-O and Feasel sure have some nerve.
Neither previous ballot issues nor campaign literature ever mentioned that dollars left over from building projects would end up in another fund. Yet that is what happened.
So now the district can use bond revenue to fund expenditures that should come out of the operating fund. In other words, the taxpayer is on the hook for 27 years for a paint job that will last three -- maybe three -- years.
Keep this in mind when you consider why an elementary school now costs $13.5 million dollars. The reason? The district inflates building costs -- backed by the yes-folks on the Development Committee -- so that it can spend the residuals on operating expenses.
If you vote NO, rest assured that the district HAS sufficient funds to build an elementary school. But only if district officials will dip into their $12 million bond slush fund.
1. OFK folks, you endorse this nonsense with your name. You cannot separate the actions of the district from your campaign. The mud sticks much too well.
2. To see the nonsense in action, go to the state auditor's site and download Olentangy's FY10 audit.