Sycamore Taxpayer

‘DEFICIT SPENDING’ IS THE PLAN

The Sycamore School District’s May, 2011 Five Year Forecast of revenue and expenditures for general operating funds was recently submitted to the Ohio Department of Education.

The INTRODUCTION states the forecast “is an important planning tool for the district’s Board of Education and administration. It is used to identify and to prepare for future funding issues of the district in support of its mission and vision. It is a key tool in meeting the district’s strategic priority to respect the investment of taxpayers by providing responsible management of resources as we continue our commitment to student success.“

Our elected Board of Education has approved the Administration’s plan to spend more than its income . Constant DEFICIT SPENDING is the plan approved by board members Adamec, Cole, Mercurio, Richter and Stauback.

This school year, the district will spend about $2 million more than its income. For each of the next four school years, spending will exceed revenue by about $4.8 million, $5.7 million, $5.3 million and $6 million. The average school year income during this period is about $72 million, while the planned yearly expenditure averages nearly $77 million.

In total, Sycamore plans to spend $23.8 million more than its income from 2011 through 2015. Concurrently, the district’s bank account (cash balance) is forecasted to decline from about $42 million in FY 2010 to about $18 million in FY 2015.

This is likely why the board is considering asking the residents to approve another operating levy in 2012; because their own numbers are heading in the wrong direction. They, like the Federal government, have not yet learned the lesson of living within their means.

The Ohio Legislature, with its $8 billion budget deficit, finally had to change the Public Collective Bargaining Law to slow the ever escalating teacher wage growth. Kudos to our state officials who finally acted on the realization that “step increases” and benefit increases are unsustainable.

Whatever Sycamore plans to do to reduce its spending isn’t enough; deficit spending is the end result. I hope, in the future, our community can offer kudos to our local board officials for making a fiscally responsible shift to living within our means.

Glenn Welch
Montgomery

Source: Northeast Suburban Life Jume 29, 2011 VIEWPOINTS  LETTERS TO THE EDITOR.