Texas ISD’s Owe Staggering $111.5 Billion in Debt

[Forever_frost]

FLYNN: Texas ISD’s Owe Staggering $111.5 Billion in Debt

Capital Appreciation Bonds circumvent current spending, borrowing limits

Texas Insider Flynn, Dan 1-23-12Texas Insider Report: AUSTIN, Texas – “Texans deserve transparency in local bond elections involving schools and other governmental bodies. Texans deserve the right to know how much debt there is, and I hope my legislation will help shine light on this vital issue,” said State Rep. Dan Flynn (R-Van,) presenting support for his Transparency Legislation, HB 114 and HB 1378. The information appeared troubling to many in the audience, when it was revealed that total school district municipal debt is more than $112 billion, with 20+ Texas ISD’s carrying over a billion dollars in debt.

Flynn’s legislation would require transparency to ensure Texans are fully informed of each ISD’s actual debt level, its consequences, as well as putting limits on Capital Appreciation Bonds. Those type of bonds are used often as a tool to help school districts but are also very susceptible to abuse.

“Many Texans are concerned when they learn their ISD’s are indebted in the billions of dollars.

“It appears the overuse of this tool (Capital Appreciation Bonds) could be an open invitation to get around current limits on spending and borrowing, and there is an urgent need to reign in this type of abuse.” said Flynn.

More worrisome, Texas has extremely high levels of local debt. Some of the highest in the nation.

According to the Texas Bond Review Board, local governments have almost $200 billion in local outstanding bond debt, comprising a full 83% of all public debt in Texas.

Flynn, Dan ISD Debt Service as of 8-31-14

According to Flynn,

“To ensure voters are adequately informed about any new debt they are being asked to approve, transparency of the levels of debt, payments and per capita Dan Flynn4-16-13burden need to be disclosed on a regular basis.

“These transparency requirements should apply to all political subdivisions, including cities, counties, school districts and special taxing districts,” Flynn said.

HB 1378 and HB 114 seek to enhance the transparency of political subdivision debt obligations as a means to allow the citizens of Texas a method to see what they are voting for, and what it does to debt on themselves and their child and grandchildren, before they vote.

http://www.texasinsider.org/texas-is...llion-in-debt/

[sc281]

So let me get this straight.

They get shit loads of tax money from us, borrow fuck loads of bond money, get donations from box top programs all the way through the texas lottery, claim to not be able to afford toilet paper - getting parents to pay for that too. All of this to provide a piss poor education...... and STILL BE IN THE FUCKING RED?!?!


Nope. No problem there.

[Sean88gt]

Seems that betting on constantly increasing property values without giving a single concern to fiscal responsibility isn't working out too well.

At least texas public education is at the top of the nation...

[CJ]

Oh, what do you know, a bunch of liberals can't manage money.


What a surprise.

[Forever_frost]

When you have these schools prioritizing huge ass stadiums that fall apart before a game can be played in them, and multi-million dollar structures that are not directly related to education, you get these things.

I'd love to see every expenditure on a ballot, every year.

[YALE]

Originally Posted by Forever_frost

When you have these schools prioritizing huge ass stadiums that fall apart before a game can be played in them, and multi-million dollar structures that are not directly related to education, you get these things.

I'd love to see every expenditure on a ballot, every year.

That is hands down the best idea you've ever had. Bravo!

[juiceweezl]

Originally Posted by YALE

That is hands down the best idea you've ever had. Bravo!

You do realize Obama was elected by voters...twice! While I agree expenditures should be public and voted on, the problem is the people that vote (or don't vote).

[GhostTX]

Originally Posted by Sean88gt

Seems that betting on constantly increasing property values without giving a single concern to fiscal responsibility isn't working out too well.

At least texas public education is at the top of the nation...

Well heck, with the math scores, seems reflective of the admin then...

[SBFORDTECH]

Originally Posted by Sean88gt

At least texas public education is at the top of the nation...

That's like winning a gold medal in the Special Olympics, you're still retarded.

[Sean88gt]

Originally Posted by SBFORDTECH

That's like winning a gold medal in the Special Olympics, you're still retarded.

"Kid with downs wins the race, even though he stood in place, olympics.
SPECIAL OLYMPICS!"

[asphaltjunkie]

Originally Posted by Forever_frost

When you have these schools prioritizing huge ass stadiums that fall apart before a game can be played in them, and multi-million dollar structures that are not directly related to education, you get these things.

I'd love to see every expenditure on a ballot, every year.

This shit right here is a direct result of the "Robin Hood" program.

Another problem with the public schools is this: A teacher is required, by their respective district, when using school money for supplies, to purchase them from a "sponsored" outlet. $5 for a small box of pencils, $7 for a pack of notebook paper, etc. (Figures may be slightly embellished to prove the point).
When the same box of pencils or pack of paper can be had at Wallyworld for less than $2 combined. But if the teacher uses Wallyworld, they have to use their own fucking money.

The shit is completely ridiculous from the bottom to the top.

[Moose242]

We need to resurrect McNamara and the whiz kids to fix this shit.

[juiceweezl]

Originally Posted by asphaltjunkie

This shit right here is a direct result of the "Robin Hood" program.

Another problem with the public schools is this: A teacher is required, by their respective district, when using school money for supplies, to purchase them from a "sponsored" outlet. $5 for a small box of pencils, $7 for a pack of notebook paper, etc. (Figures may be slightly embellished to prove the point).
When the same box of pencils or pack of paper can be had at Wallyworld for less than $2 combined. But if the teacher uses Wallyworld, they have to use their own fucking money.

The shit is completely ridiculous from the bottom to the top.

That's not much different than any corporate situation unfortunately. My wife is a teacher, and I've had discussions with her for years. The problem is the people running most school districts are educators that learned in the classroom teaching kids. They need business people running the district and the schools, not former teachers.

[Broncojohnny]

Guys, I have a great idea! Let's give them more money since they have done such a bang up job of managing what they already get.

[Baron Von Crowder]

Originally Posted by juiceweezl

That's not much different than any corporate situation unfortunately. My wife is a teacher, and I've had discussions with her for years. The problem is the people running most school districts are educators that learned in the classroom teaching kids. They need business people running the district and the schools, not former teachers.

my wife and I have had that same conversation.

[BP]

Originally Posted by sc281

So let me get this straight.

They get shit loads of tax money from us, borrow fuck loads of bond money, get donations from box top programs all the way through the texas lottery, claim to not be able to afford toilet paper - getting parents to pay for that too. All of this to provide a piss poor education...... and STILL BE IN THE FUCKING RED?!?!

Nope. No problem there.

Don't forget about underpaying teachers and nurses.

[bcoop]

I see so much money mismanaged in schools, related to my field. I really, REALLY want to put my resident district on blast by asking questions that deserve public answers to the voting base. The problem is, if I do it, I'll never get any business from said district in the future. Though th questions I want to ask will likely mean the person in charge would be looking for a job, since the questions can not be answered reasonably. So I would lose business at whatever district that person lands at, too. Lose/lose situation for me.

[bcoop]

Originally Posted by juiceweezl

That's not much different than any corporate situation unfortunately. My wife is a teacher, and I've had discussions with her for years. The problem is the people running most school districts are educators that learned in the classroom teaching kids. They need business people running the district and the schools, not former teachers.

I agree to a point. You still need former teachers for the education side of things. But putting business people in charge of what is taught, how it is taught, etc is not good for anyone. No different than politicians making these decisions like it is now.

[juiceweezl]

Originally Posted by bcoop

I agree to a point. You still need former teachers for the education side of things. But putting business people in charge of what is taught, how it is taught, etc is not good for anyone. No different than politicians making these decisions like it is now.

Determining curriculum and running the day to day business are two different things. I agree with you 100% on that aspect. The horror stories I hear about principals and superintendents and their decisions on business matters are largely because they possess classroom experience only.

[juiceweezl]

Originally Posted by BP

Don't forget about underpaying teachers and nurses.

I can't speak for nurses, but most teachers are not underpaid. Again, my wife teaches, and she'll agree with me on this one. She is also one who spends a ton of hours at home grading papers and preparing for classes, not the PE teacher who does nothing outside of roll a ball out and watch the kids during class. Keep in mind most teachers work 9 months out of the year. If you prorate it out, many make upper 70's to 80K a year, often more. That's not too shabby, and is not underpaid.