Last week’s story on Walnut Township Schools’ cash flow problems was revealing in several ways.
1. If the school district must produce two five-year financial forecasts annually, HOW could there be financial problems like negative balances, deficit spending, or a need for layoffs or cuts in services?
2. We aren’t told what law mandates “…school districts can not have negative cash balances…”, but the U.S. Constitution implicitly mandates there NOT be any positive cash balances. Calvin Coolidge said: “Collecting more taxes than is absolutely necessary is legalized robbery.”
But I say Uncle Cal was wrong, because there’s nothing LEGAL about theft.
3. The local district had a LOT of cash, since the deficit spending for 2011, ‘12, and this year was more than $1 1/4 million dollars and leaves an estimated balance of over half a million dollars. That totals about two millions of dollars balance but all we hear is continual poor-mouthing about how broke the schools are.
4. Money in an account somewhere may be benefiting some investment company, but it isn’t being spent, isn’t being saved, and isn’t being taxed, so its basically a dead commodity. It represents the fact the people we elect to represent us are LOUSY planners, and apparently have no qualms about stealing from us by over-taxation which none of us contracted for, and reveals they’re guilty of mis-, mal- , and/or non-feasance in the public office we’ve trusted them with.
5. The bottom line is our own pathetic and apathetic penchant to “TRUST” our public servants. The simple fact is, our problem ain’t that we’re too trustful of folk who aren’t too trustworthy; we’re just too lazy and too eager to believe we’ve fulfilled the basic necessities of duty and responsibility by casting a ballot every two or four years or so, and attending “church” occasionally. We’re being robbed blind, but it’s a willful blindness on our part.
There’s little argument the economy is bottoming out, and we’re all having to make adjustments. Divide the $2,000,000 cash balance Walnut Township Schools stashed away, by however many households are in Millersport, and imagine what we could do with that kind of money if the cash reserves were to be returned to the rightful owners.
Consider what even a small portion of that being spent locally would mean to our community. And all that money spent into local circulation will be taxed for revenue purposes, benefiting even the local school district.
We hear so much about the Obama administration talking but not following thru on the issue of transparency in government. But we don’t have to go to Malfunction Junction (aka Washington, DC) to realize there’s very little transparency happening in Local-land, either. Why isnt the CAFR (Comprehensive Annual Financial Report) made public? It could be sent home with the kids, to save on postage, or posted online.