Post by justfacts on Sept 14, 2006 11:36:14 GMT -5
Two of the key tricks in the magician's bag of tricks are DISTRACTION and MISDIRECTION!
And that is what is being practiced on this BOE by the SPIN Doctor! What a shame, they are falling for it just as hard as any kid watching and following the motions of a very amateur magician.
They have made a major effort and issue about "the Library paying its fair share of the TAN interest, and neglected to follow up on major issues that affect the taxpayers and the children of the District.
They would serve us better by getting off that Library band-wagon of Richman's and get on to more important District issues - say, a better functioning district that puts more than 70 cents of every dollar to the Programs portion of the Budget!
Let's put a simple perspective on the subject of Library funding.
The Library has done the detailed financial work to know that, in the methods of payments used for the past 40 year's the District has had the chance to earn (in today's dollars) about $28,000 a year by doleing out the TAN funds received in july and the TAX funds received in December on a monthly basis until they have to pay about $26,000 in interest on them in June.
With a proper investment strategy, there is zero dollars of actual cost to the District residents, the only entity that actually takes the money out of their pockets to pay this "share"!
All that fuss is about what has been a zero cost item to the public!
Now let's look at the revised plan they attempted to put in place last year. A plan that will cost the public at least $27,000 more than the existing one! Maybe even much more!
They told the Library last year to expect $16,300 in interest charges if the Library authorizes them to take a TAN the the Library would pay interest upon. The Library reluctantly agreed because of the Contingency Budget panic the School was in. The BOE never Seconded a motion to get a Library TAN. No Library TAN ever existed!
Now they withhold, violating Section 259 1a) of the State Education Law, close to $27,000 in Library operating funds - supposedly for the Library's "fair share" of the interest on a TAN that does not exist! A charge for which they have as yet to provide a proper Invoice for!
They gave the Library copies of lot's of paper work and forms for Brokers and Agents, lots of numerical hen-scratches on paper scraps, but no signed, sealed and delivered Invoice! (Maybe someone's afraid if they do provide a signed Invoice for a non-existent TAN they could leave an audit trail that could lead to criminal charges)
Now to the mis-direction of the frantic activity. You can easily spot it by asking the simple - Where does (did) the money go![/i]
Now, in JULY, before the school tax was set and levied, the District had negotiated $ 8.8 Million in TANs with the Brokers, to which they added $250,000 in September, for a total "loan" of $9,05 Million and agreed on a cost.
Well, although actual cost of $221,000 was known, the school tax levy was based on the estimated TAN interest ($283,700) for both the school and the library!
Don't forget! They set that amount under the Contingency budget in August, well after the Library agreed to have a separate TAN in June and again in July. by the way, the "Library Share" of $16,300 is just 5.75% of the total,well within the estimated variance.
What was the total interest cost they charged us on these TANs? Just $62,700 more than the cost they knew in July! They collected half of the $283,700 tax levy in December from the Town, and the last half in June.
At the 3.8% interest rate they claimed to have earned last year, the half of what they collected produced $5,400 of income. So they ended up with $289,100 to pay off an interest bill of $221,000 in June of this year.
Not everyone may follow this, but certainly Mary Ann, Allen Fox and Deidre should be able to - discuss it with them. have them follow it!
So, knowing the Interest Bill would be less and that offsetting interest should be earned - they decided to take the estimated amount from the Taxpayers for TAN interest anyhow!
That's $91,500 more taken than what was known to be needed when the tax was levied!
Don't forget, they also took the $27,000 (not $16,300) from the Library and added that to the over charge, ]essentially charging the public once again for under the false guise of it being the Library's "Fair Share"!
Now where does that excess money go? Does anyone have the courage to demand to know where it went?[/i]
This coming year the BOE in the recent board-to-board meeting, the District dictated that they would implement the same defective plan again for Library financing. Not one BOE member wanted to discuss, listen to, nor look at information the Library has that shows the fiscal folly of that method.
They just don't believe that the Fair Share of the Library TAN interest has been, and could continue could to be, a "wash", costing taxpayers zero dollars.
What's really behind it if you ask my personal opinion, doing it the "old way" hinders the ability of Spin Doctors to charge the Taxpayer twice for the same interest cost - it makes all charges blatantly obvious on just the BOE's set of books!
Now! Just how many car washes would this surplus amount of Capital costs have saved? [Ans.; Over 18,000 of them!]
Or, it could buy $25 worth of school supplies for each student!
Where did this $91,500 end up? Why is it necessary to improperly hold out $27,000 in Library operating funds? The Taxpayers approved more for the Library, the Library can't provide the full services it promised taxpayers. It sits somewhere in the books of the District.
All this stemming from riding Richman's Bandwagon of misdirection, misinformation and distraction from what he's really doing to this District - sending more money to the Bankers and Brokers at the expense of the Children!!
Ed.
The Next Budget goal - Take a nickle from the Bankers and spend 75 Cents of the dollar on the Children!
And that is what is being practiced on this BOE by the SPIN Doctor! What a shame, they are falling for it just as hard as any kid watching and following the motions of a very amateur magician.
They have made a major effort and issue about "the Library paying its fair share of the TAN interest, and neglected to follow up on major issues that affect the taxpayers and the children of the District.
They would serve us better by getting off that Library band-wagon of Richman's and get on to more important District issues - say, a better functioning district that puts more than 70 cents of every dollar to the Programs portion of the Budget!
Let's put a simple perspective on the subject of Library funding.
The Library has done the detailed financial work to know that, in the methods of payments used for the past 40 year's the District has had the chance to earn (in today's dollars) about $28,000 a year by doleing out the TAN funds received in july and the TAX funds received in December on a monthly basis until they have to pay about $26,000 in interest on them in June.
With a proper investment strategy, there is zero dollars of actual cost to the District residents, the only entity that actually takes the money out of their pockets to pay this "share"!
All that fuss is about what has been a zero cost item to the public!
Now let's look at the revised plan they attempted to put in place last year. A plan that will cost the public at least $27,000 more than the existing one! Maybe even much more!
They told the Library last year to expect $16,300 in interest charges if the Library authorizes them to take a TAN the the Library would pay interest upon. The Library reluctantly agreed because of the Contingency Budget panic the School was in. The BOE never Seconded a motion to get a Library TAN. No Library TAN ever existed!
Now they withhold, violating Section 259 1a) of the State Education Law, close to $27,000 in Library operating funds - supposedly for the Library's "fair share" of the interest on a TAN that does not exist! A charge for which they have as yet to provide a proper Invoice for!
They gave the Library copies of lot's of paper work and forms for Brokers and Agents, lots of numerical hen-scratches on paper scraps, but no signed, sealed and delivered Invoice! (Maybe someone's afraid if they do provide a signed Invoice for a non-existent TAN they could leave an audit trail that could lead to criminal charges)
Now to the mis-direction of the frantic activity. You can easily spot it by asking the simple - Where does (did) the money go![/i]
Now, in JULY, before the school tax was set and levied, the District had negotiated $ 8.8 Million in TANs with the Brokers, to which they added $250,000 in September, for a total "loan" of $9,05 Million and agreed on a cost.
Well, although actual cost of $221,000 was known, the school tax levy was based on the estimated TAN interest ($283,700) for both the school and the library!
Don't forget! They set that amount under the Contingency budget in August, well after the Library agreed to have a separate TAN in June and again in July. by the way, the "Library Share" of $16,300 is just 5.75% of the total,well within the estimated variance.
What was the total interest cost they charged us on these TANs? Just $62,700 more than the cost they knew in July! They collected half of the $283,700 tax levy in December from the Town, and the last half in June.
At the 3.8% interest rate they claimed to have earned last year, the half of what they collected produced $5,400 of income. So they ended up with $289,100 to pay off an interest bill of $221,000 in June of this year.
Not everyone may follow this, but certainly Mary Ann, Allen Fox and Deidre should be able to - discuss it with them. have them follow it!
So, knowing the Interest Bill would be less and that offsetting interest should be earned - they decided to take the estimated amount from the Taxpayers for TAN interest anyhow!
That's $91,500 more taken than what was known to be needed when the tax was levied!
Don't forget, they also took the $27,000 (not $16,300) from the Library and added that to the over charge, ]essentially charging the public once again for under the false guise of it being the Library's "Fair Share"!
Now where does that excess money go? Does anyone have the courage to demand to know where it went?[/i]
This coming year the BOE in the recent board-to-board meeting, the District dictated that they would implement the same defective plan again for Library financing. Not one BOE member wanted to discuss, listen to, nor look at information the Library has that shows the fiscal folly of that method.
They just don't believe that the Fair Share of the Library TAN interest has been, and could continue could to be, a "wash", costing taxpayers zero dollars.
What's really behind it if you ask my personal opinion, doing it the "old way" hinders the ability of Spin Doctors to charge the Taxpayer twice for the same interest cost - it makes all charges blatantly obvious on just the BOE's set of books!
Now! Just how many car washes would this surplus amount of Capital costs have saved? [Ans.; Over 18,000 of them!]
Or, it could buy $25 worth of school supplies for each student!
Where did this $91,500 end up? Why is it necessary to improperly hold out $27,000 in Library operating funds? The Taxpayers approved more for the Library, the Library can't provide the full services it promised taxpayers. It sits somewhere in the books of the District.
All this stemming from riding Richman's Bandwagon of misdirection, misinformation and distraction from what he's really doing to this District - sending more money to the Bankers and Brokers at the expense of the Children!!
Ed.
The Next Budget goal - Take a nickle from the Bankers and spend 75 Cents of the dollar on the Children!