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Charles - you are a good reporter and writer, but like your predecesor did, you need to verify BCSD's fiscal talking points, they can put on a smooth show.
i think it is important to note that the district misrepresented some key facts:
1) ms. kehoe presented that the percent of unrestricted funds for last year was 4.3% - NOT! the NYS Comptroller's office cited them for having 6.5% of their subsequent year's budget in UNRESTRICTED FUNDS (that is, $1.89-million too much according to NYS law). this money was hiding in the district's 'tax reduction reserve" fund that was illegally established a while ago. according to ms kehoe's presentation, the district (quietly) did away that money this spring (on what we may never know), but it was most certainly not used to close last spring's purported budget gap.
2) the district's final expenses were $2.5-mill under budget last year (10-11). the year before that the district came in about $2.7-mill under budget (09-10). unfortunately, since this district uses last year's budgeted expenses rather than actual expeditures to begin the subsequent year's budget, it is money in the bank for the district. this is called budget smoke and mirrors.
In sum for this year, the district found about $4-million in play money.
I also found it completely ironic that for this year with the tax cap, ms. kehoe discussed how they could above the 2% tax levy due to certain exemptions in the law, creating the purported PR matter. wasn't it absolutely irresponsible (esp given the demographics of this community) that the district locked in at 2% levy last year to create a hole in the budget ?
Last login: Monday, October 17, 2011
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