| Thursday, April 12, 2007 |
| Where did the RCS Fund Balance Go? |
Where did the RCS fund balance go? If you look at surrounding districts website information, you will notice that other districts sit on 10-20% fund balance; Romeo Community Schools has approximately a 2-4% fund balance. Where did it go and how can we get it back?
A schools fund balance is another word for a saving account; it is measured as a percentage of the overall budget. This fund is typically reserved for "rainy days". From the information I have seen over the years with regards to finances, Romeo Community Schools' dangerously low fund balance indicates we must have had many rainy days.
Where did it go? The community has been very generous in supporting the schools, by continuing to pass the sinking fund. The sinking fund pays for the building maintenance, repairs and other specific items. The district receives approximately $8,000 per student in state and federal funding every year, which includes an annual increase. If the school district operates within it's budget, the state, federal and annual increases should cover the operations of the district. When the school district determined the need for a new elementary and a new high school (RETC), the community passed the bond to build them, with the trust that they would be used to the optimum efficiency.So how did the district use up so much of it's fund balance? Individuals such as school board members and administrators bemoan that Proposal A has not lived up to its intended ‘promises’, and also use the excuse of lack of adequate funding from the state. I feel that this question needs to be answered responsibly and without blame, so we can start to build the fund equity back up to a more secure level.
How do we get it back?
LIVE WITHIN OUR MEANS! The district has to stop spending more money than it receives. We, as responsible adults know better than to write a check when there is no money in the checkbook; no one in the public is going to bail us out when we misuse our funds, so why should the school district ask the voters to constantly bail them out?
STOP THE WASTEFUL SPENDING! The special elections the district continues to hold is a perfect example of this wasteful spending, but it is only the tip of the iceberg!
LOOK AT OTHER HEALTHCARE OPTIONS. Other districts are doing this, we need to follow their initiative.
TRIM THE WASTE. There is room for review of the “checkbook” and the waste needs to be identified and eliminated.
THINK OUTSIDE THE BOX. For many years, progressive companies have identified that conventional thinking was not going to move them into the next century. School districts need to operate on the same level and look at innovative ways to cut costs and improve education. |
posted by Jennifer L. White @ 9:12 AM   |
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| 3 Comments: |
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Ms. White. I find it interesting and sad that you spoke against the sinking fund, April 12th, before you were elected and yet on December 10th of the same year, after you were elected, you voted for the sinking fund.
What has changed?
You can read my thoughts on the fund and why I personally hope it fails here:
http://adammclane.com/2007/12/19/im-voting-against-the-sinking-fund-in-romeo/
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Ms. White. I find it interesting and sad that you spoke against the sinking fund, April 12th, before you were elected and yet on December 10th of the same year, after you were elected, you voted for the sinking fund.
What has changed?
You can read my thoughts on the fund and why I personally hope it fails here:
http://adammclane.com/2007/12/19/im-voting-against-the-sinking-fund-in-romeo/