PUSD 9/13 School Board Meeting - AB 114 and Bond Refinancing
Original post made by Nomad on Sep 12, 2011
The first is the report and discussion on the Citizen Committee to examine PUSD's Bond Refinancing. The full report is here (Web Link). It was a good effort, well meaning, given a good consultant team (GFS), and time to do its work. The answer is yes, PUSD used a (later to be determined illegal) practice to re-finance voter approved bonds in a way to generate cash ($9M+) to spend, instead of returning it to the voters. PUSD can't account for where the funds were spent relative to the originally approved plans. And PUSD will hopefully embrace a new level of fiscal and ethical practices going forward. And this, we hope, will be the true value and end result - a more transparent and fiscally stronger school district.
The second is a resolution asking the CA Legislature and Governor to modify the recently passed AB 114 to restore local school district control over its budget.
At the last board meeting, teachers union President Trevor Knaggs spent his entire address to the school board praising Governor Brown's bold signing of this legislature, saying it is OK for school districts to engage in deficit spending and taking out loans, that it is good school districts don't require the standard three year fiscal outlook, that it is OK to engage in fiscal irresponsibility. Why? So teachers can have one-year of 'stability against emotional upheaval'. He even listed the additional 7 days of furlough days this legislation enables as a good feature. This coming from the union bargaining rep who fought against furlough days last year to help stabilize the PUSD budget. What an absolute farce this man is standing up in front of the school district and the public promulgating such trash. He is an embarrassment to the school district and its teachers. I trust the PUSD board will vote 5-0 in favor of the resolution to show APT and CTA there is no place for fiscal irresponsibility here in Pleasanton or in California.
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