Something called a ‘School Accountability Report’ came to my house in the mail last week. Let’s take a look at it, shall we?
How is Colorado Springs District 11 Administration doing with that $409,468,689 they spent on less than 30,000 students last year? That’s almost a half a billion dollars! That’s a lot of money!
First off, they spent 15% of that money ($63,437,095) on ‘servicing debt’ as they called it. Wow! Double WOW! These are the people in charge of teaching math to kids, too… and it is no wonder that so many of District 11 miseducated kids cannot hardly count, let alone add and subtract, multiply and divide. $63 million per year! What did it buy? Well, it bought nothing. It was spent on ‘debt service’!
Why in the world would this School District borrow money? After all, when school levies can raise hundreds of millions of dollars at a time, why not wait before spending our tax monies? Is that really so hard for these people to do? The answer is NO. So why did they go and put parents into hock like this with taxpayers’ money?
The answer is CORRUPTION. You see, the $63 million PLUS money paid out in interest annually is something that big financial corporations lobby to get. No need to go after the bottom dwellers (you and I) to get us to add on a credit card or two, when this sort of interest ‘servicing’ can be had by getting the School Board in bed with them.
Nobody questions necessary debt, but a taxing agency such as government can obtain money without borrowing it beforehand. That is something that should be called unnecessary debt when they borrow first. It’s unnecessary for us, but necessary for banks to get corrupt fools (the D-11 School Board Administrators) to line them up with them to get that $63 million annually. Yes, those School Board Administrators are corrupt, corrupted, and shameless, and back to the ‘School Accountability Report’ once again…
Those corrupt administrators pull off an average salary of over $40/ hour. That’s right. That’s an average. The corrupted administrators that passed these deals to have the D-11 public now paying off $63 PLUS million per year in ‘debt service’ made more than that average. Perhaps $50-$70 per hour? Perhaps the sky? Your guess as to that?
Many of these students at District 11 have parents making less than $10 an hour apiece. They support these corrupt School Administrators through their taxes, who then sign these sweetheart deals with financial institutions that then helps torpedo these parents’ kids from getting much of an education for that $11,289 operating revenue per kid spent by the district.
What’s the overall grade for this District 11 corruption? ‘Overall Academic Performance on State Assessments’ = AVERAGE. That’s what their own ‘accountability’ paper read. And ‘average’ for American education as a whole = BELOW WORLD AVERAGE. The math of it is so very sad.
Math score for District 11? F. The school district public’s $63 million PLUS per year paid out in ‘debt service’? Shame on them! These administrators are scamming us! And they’re scamming our kids, too! F———- that’s F minus. This country is sinking under this type of corruption!
“…but a taxing agency such as government can obtain money without borrowing it beforehand.”
Clearly you are not a resident of the district, nor of Colorado– the “government” fortunately cannot obtain money (?) without a tax increase of some sort, which the voters in this state declared illegal without general approval in ~1992, the so called Tabor; remember the Boston Tea Party?
A look at the last and current administrations shows the ability of the feds to “borrow” without constraint; the locals are not blessed with such discretion.
Speaking of not making any sense, you are one that takes the cake, Irvy. Both school boards and Federal government gain their funds through their ability to tax, and no legislation in Colorado Springs nor the State of Colorado nor the USA has in anyway changed that basic reality. There simply is no good reason why any governmental body with this taxing authority should take out loans before hand so as to later pay interest to the banks on.
One could somewhat understand the Third World societies that have done this though, usually by force from international organizations or force from their own corrupt national elites who grab the money and run. Or one can understand in corrupt and insular mining towns of the past why miners’ wives might have had to go into hock down at the company store. But both District 11 and the Federal government going into debt is just plain corruption. Only sombdoy as muddled up as you would be unable to see such, Irv