PISD finance report

For those keeping score of your taxpayer dollars here is some information from the PISD. For the year ending August 31, 2008 the PISD took in $23,961,221 in total Revenue and spent $22,755,598 of your tax dollars. Let's put this math to work

Revenue $23,961,221
Expense <22,755,598>

Hoarded Taxpayer Funds $1,205,623

Twi-light Super and crew managed to STEAL from your pocketbook over $1 million dollars. Steal might be a strong word, so let's say that Twi-light Super and crew were able to transfer $1 million dollars of your hard earned cash and place it into the super savings account of the PISD called the Fund Balance.

The fund balance on September 1, 2007: $10,792,322
2008 TRANSFER due to poor business planning 1,205,598

Total Fund Balance (PISD Super Savings Account) $11,997,945

The PISD and Twi-light Super is now hoarding close to $12 million of your hard earned taxpayer funds. Wonder if some new turf is in the future of the PISD? How about another new building? PISD and Twi-light Super and crew have $12 million of your money and since it is in the fund balance they can do just about whatever they want without your approval.

Ponzi scheme in that they over estimate their budget in order to have excess funds at the end of the year and the excess funds get moved into the Super Savings Account called a fund balance. AKA - PISD Slush Fund! Folks this is not right in the least bit. It may be legal, but it is ethically wrong. Law should require the PISD and any other ISD to return the funds in the form of a reduced ad valorem tax rate.

Your State Rep Bryan Hughes and State Senator Kevin Eltiffe need to be contacted about such a Ponzi scheme in which you are being fleeced of your money. If the PISD adds a million a year to their fund balance they will be able to build whatever and buy whatever they want without voter approval. The law was never intended to be abused in this manner.

One other tidbit from the PISD report - the PISD spent $1,054,722 on School Leadership Expenses. Evidently the leadership was never trained in proper finance and budgeting techniques.

Then again maybe they were.......