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Post by doctorwho on Feb 16, 2011 18:00:06 GMT -6
OK- I think they are all listed now-- I have to review this site also before I comment www.loriprice204.com |
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Post by asmodeus on Apr 7, 2011 7:28:10 GMT -6
Please help me out here. The following are pulled right from Ms. Price's Home Page:
"Another example is the bond debt. Given the fact that we did build a third high school, which the voting public approved, it stands to reason our district’s debt would increase. You might be surprised to know that the district actually sold fewer bonds and incurred less bond debt to build Metea than the voters authorized."
What?...I thought we authorized $124m and spent $150m.
"The 2005 Citizen’s Financial Committee recommended that the district restructure its debt. They did so because the district was on a twelve year repayment cycle, and those financial experts said that it was unfair to make current residents pay all the cost of construction themselves. They pointed out that future residents would take advantage of those buildings and that they, too, ought to pay a share of the cost of building them. The bond restructuring that the Committee recommended caused an immediate drop in all of our tax bills as a result."
I don't disagree with the concept, but my tax bill has never gone down, and I'm bracing for a shock on April 29 when I get the new one.
"The district is paying down the bond debt (already paying off nearly 65% of the total), despite having to make cuts in its overall budget by nearly $28M in the last three years."
What does this mean? In plain English, this sounds as though we've already paid for two thirds of the high school, which isn't remotely true. What, exactly, is she referring to regarding paying off 65%?
Sorry if these items have been discussed -- I voted for MR and no one else based on the comments here, but now that I've had time to actually read up on some of the new members, I'm disturbed by the apparent falsehoods some are foisting on the public.
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Post by macrockett on Apr 7, 2011 7:43:02 GMT -6
I'll help you out Asmo...LP is clueless and to the machinations of the District winsome.cnchost.com/MAC/0_D204_Summary_document.pdfsee the link to questions 2-3 anyone who wants to see what we spent on Metea AND WHERE EXACTLY IT CAME FROM. The fact is, the District was so good at picking out pockets and borrowing on the 25 acres and scrounging up money from a few other sources that it was able to fill the $19m funding gap without using about $8 million in remaining authority under the referendum. As to the outstanding debt....clueless as to what has been paid off. Sadly, LP shows the ignorance that exists (and will exist) on the Board with respect to the District's finances |
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Post by Arch on Apr 7, 2011 7:50:01 GMT -6
It's called bullshit spin.
It's like saying that last Friday morning I didn't rob that bank. Which may be true with the qualifiers, but let's ignore the fact that I actually technically robbed it Thursday night at 11:58PM and I'm bullshitting you into believing I had nothing to do with it.
I believe someone else gave her this information, and per macrockett, she could not detect or even see that it was full of bullshit and it just got rubber stamped and passed along.
This stuff has to stop and it has to stop now.
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Post by brant on Apr 7, 2011 8:06:33 GMT -6
I knew LP slightly when I was a regular on the Green board. She is a good person who has worked tirelessly for the kids and has been instrumental on the Special Needs PTA. She deserves a lot of credit for the work she has done. But as I and all of you have feared she has not a clue as to running a school district financially. A school district particularly as large as this one is a business and has to be run as a business. How many of the current SB members have any experience in this area? Less then half and we have some rough times coming up in the future
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Post by macrockett on Apr 7, 2011 8:16:35 GMT -6
Figure A-9 FY2008 Audited Financials & FY2010
Outstanding Long-Term Obligations (in millions of dollars)
2008 2007 2010 2009
$ 353.9 $ 305.9 333.0 $ 333.8
There is outstanding 2008, 2007 2010,2009 directly from the financial statements
So in two years, we have paid down 20 million. But this isn't the entire picture either. More later
This is just the bond portion. See total debt by looking at the financial audit below.
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Post by EagleDad on Apr 7, 2011 8:21:48 GMT -6
Figure A-9 FY2008 Audited Financials & FY2010 Outstanding Long-Term Obligations (in millions of dollars) 2008 2007 2010 2009 $ 353.9 $ 305.9 333.0 $ 333.8 There is outstanding 2008, 2007 2010,2009 directly from the financial statements So in two years, we have paid down 20 million. But this isn't the entire picture either. More later
"The district is paying down the bond debt (already paying off nearly 65% of the total)"Um, yeah sure. I would advise they don't let this one play with the sharp scissors. |
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Post by macrockett on Apr 7, 2011 8:44:30 GMT -6
To save myself time, go to the Districts website: ipsdweb.ipsd.org/Subpage.aspx/BusinessOfficeSee Comprehensive Annual Financial Report 2010 ...see figure A-9 in MD&A then compare to Comprehensive Annual Financial Report: 2008 (same figure A-9) and you will see that total outstanding long-term obligations. 2010 is actually higher than 2008 |
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Post by treehugger on Apr 8, 2011 14:38:01 GMT -6
It's just MM speak.
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