Updates 2012

November 1, 2012 · 0 comments

Just added  ***  2010 BOND PROJECT SHEETS  in  TAB What’s going on at CVS in  “bond” in drop down box.

***  2012 CV Schools Financial Statement – 50080 – Plante Moran

A lot can be learned from a financial statement. Highlights:

Debt to assets ratio is a minus 74 million dollars.

5 million is still UNSPENT from the 2005 bond.  More on this to come………..

New legislation will impact school district bond borrowing. Here is more information on this topic from Senator Papageorge’s site. The school district referenced by the Senator that owes 123 million to the state is Chippewa Valley. Treasury  Loan statement is found here. Go to Chippewa Valley in drop down box.

 I will continue to keep  parents and taxpayers informed about school district news, specifically the implementation of the Common Core Curriculum. This could take up to 10 years to fully implement.

Parents, the ultimate consumers of education, should have reports about student achievement, or lack thereof, without bias or spin.

I have been vocal about money wasted on food and gifts purchased by district officials.  [See  Steaks not Textbooks]

The current board is resisting transparency. Posting ALL financial data online and broadcasting of ALL board meetings promotes open government.

Using the Freedom of Information Act I was able to:

-Inform the taxpayers in 2010 about the real bond debt number of  $580+ million. [See Bond Projects/ Debt and Buy Now- Pay Later

 It is well known that Bond and General funds are separate, but it is the overall management of those funds which is disturbing. With over a half billion dollars in total bond debt, it has been calculated by the State Treasury that the current bonds will not be paid back on time, which WILL cause our taxpayers more money. Basic common sense will tell us: That money has to come from somewhere. Michigan’s School Loan Revolving Fund, which was supposed to be self-financing, but is not operational due to declining taxable property values and the pyramiding of debt, has resulted in the state having to issue general obligation bonds. To make the loans, which resulted in additional interest costs, the debt service payments on the bonds are paid for out of the School Aid Fund, which is meant for operating purposes.  In the 2012 fiscal year, this amounted to $60 per pupil; $60 not going to a classroom.

-Bring to the public’s attention the plan for the district to become “real estate developers” with bond money. The decision to engineer an 11 lot subdivision using bond money was not  voted on in a meeting open to the public, violating the Open Meetings Act.

I have also been proactive about having a safe school environment and have been using the Freedom of Information Act as a way to track crime and drug activity in our  schools. I have Police Call for Service logs and  school safety,  bond debt,  and information about the real estate Chippewa Valley (the Taxpayers) now owns listed under the drop down heading -What is going on in CVS.




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