Determine whether the Board reasonably and transparently financed reserves.
The Board has not adopted a reserve policy. The Board did not include provisions to fund reserves in its annual budgets. Seven reserves with balances totaling $9.4 million (72 percent of total reserves) are overfunded by $7.8 million and potentially unnecessary.
The Board should adopt a reserve policy. Appropriately budget to fund reserves. Determine if the amounts reserved are necessary, reasonable and in compliance with statutory requirements.
To my understanding reserve amounts were voted on by the tax payer if over X amount. The districts can have several different reserves, like one for building repairs, one for tech, one for books, its when they don't USE the money and it just sits there collecting dust you get an issue. To answer the question, No you cannot spend the book reserves on lowering taxes.
No, but you can allocate the reserves to current expenditures, which would allow you to charge less in the future. And, no, we never voted to add to reserves, and since there is no policy regarding reserves, they are just piling up. So today's taxpayers are funding potential liabilities that may not occur while they are still taxpayers.
We don't need to ask, we have the report thanks to Newsman. The question for BOE members is, what are they going to do about it? Not being legally required to have a policy seems like a pretty thin defense against the State Comptroller's charges.
What... no reply, Tacitus? I guess it's far easier to merely vent your spleen than to actually defend anonomous ad hominem attacks on some internet forum. I should expect no less (or no more) from one who uses the screen name "Tacitus".
Well played, good sir.
Everyone's entitled to their own opinions, but not their own facts.