Pennsylvania Ping!
Please ping me with articles of interest.
FReepmail me to be added to the list.
Posted on 01/25/2023 2:41:02 PM PST by lightman
Pennsylvania Ping!
Please ping me with articles of interest.
FReepmail me to be added to the list.
Never would have guessed they would stoop to that.
/a
My County is represented in those 12 Counties.
The Grift goes on and on and on...
They should name the school districts, not just the counties.
Are those pension funds in deep doo doo?
Betcha...
Mine isn’t.
But I know they all play that “reserve fund” game in part because those funds can be spent without going through the normal budgeting process.
Often used to start a new sports team or some other pet project.
Shenanigans by school boards, who would have thought it?
My late mom lived in San Diego County. The local school board financed a new high school by negotiating bond deal that required the district to pay off the loan with a ballon payment, principle and interest in something like thirty or forty years—long after the current board members are dead and gone.
Here is a link to an article about a different S.D. County school doing something similar.
This is not new. Every government agency or any agency that receives government funds or grants does this. There’s hardly a place anymore where we’re not getting screwed/scammed
From last October...
Check out the spin that makes Linda Blair look like a piker...
Yeah, it is a grift, but taxpayers keep handing money to these failed schools over and over again, basically no questions asked. Like the mRNA shots and masks, liberals just collapse and fall into line spouting every leftist education mantra. “It’s for the children.” “Education benefits all of society.” Utter pablum, but they always go along with it and then bellyache about the rich and why they are so poor. They are just too dumb to make any connection.
I know someone who has a nice pension. I won’t be
surprised at all if it is hit by California.
Would really hate to see it, but California is so poorly
run. It could be twice the state it is, if run properly.
Whoakaaaay, this may explain a bit...
PSERS mentioned.
Yes this is a game that is played. I tauhht several school districts how to do it for very beneficial purposes.
I taught schoold districts how to budget the Capital Reserve Fund to allow for the flexibility to meet unexpected expenditures in the genrral fund.
When money is transferred to the Capital Reserve Fund it cannot be transferred back to the General Fund.
However their are expenditures that can be paid from either fund.
For example, school busses could be purchased in the General Fund or the Capital Reserve Fund. Same with major repairs such as HVAC systems, roof replacement or repair.....
It is smart to transfer money to the CRF and budget it long term.
I’ll be honest, we also used it to hide the money set aside for teacher’s salary increases so they didn’t see the extra money during negotiations.
It is far better to use the CRF as a tool to level the wild swings in budgets and prevent huge tax increases in any one year.
It’s good to have the CFR as a contingency fund in the event a disaster suddenly breaks the General Fund Budget.
Yes it is open to abuse. That’s why I always recommended budgeting the CRF. I would have the administration look at all buildings and based upon expected life of building components and systems, budget long term for future expenditures.
A prudent person would do the same in their own life. If you know you need a new roof in three years, or a new car, you save and set aside money for it ahead of time.
Groomers
AND
Grifters.
Typical progs.
Speaking of CalPERS and CalSTRS...
https://www.sacbee.com/news/politics-government/the-state-worker/article241155276.html
https://californiaglobe.com/articles/us-pension-funds-lost-400-billion-on-china-investments-in-july/
https://www.pionline.com/searches-and-hires/calpers-piles-74-billion-alternative-investments
https://www.heritage.org/asia/report/why-state-legislatures-must-confront-chinese-infiltration
I’ll be honest, we also used it to hide the money
/\
Somehow
” honesty”
and
” hiding money”
just doesn’t sound as good as you thought.
.
A prudent person would do the same in their own life
/\
What ?
Hide money to grift more out of those footing the bill ?
Hardly what a prudent person would do,,
More like what a griffting
con artist would do.
“We all want to provide schools the resources they need to effectively and efficiently teach our children. We’re willing to do our part,” DeFoor said. “But we definitely cannot allow school board to use legal maneuvers or take away the voice of our taxpaying citizens.”
I live in Pierce County, WA, and they have not run an independent audit on the school systems since before I came here in 1993. They choose to do it internally. For this reason I have voted every year against money movement on the ballot aimed at them. If they can prove they don’t have the money for a meaningful award, I would vote for it. But until they accomplish and publish a full audit of the funds earmarked and in hand for their operations, I can’t trust anyone with absolutely no transparency.
wy69
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.