In the November 1, 2018 edition of the Lake Murray News, Paul DuPre wrote the following; “They (critics of the former District 5 Board) shriek about financial mismanagement after scrutinizing D5 finances, they have never found a penny out of place, not even a penny.” The first 3/4ths of his article attempted to point out “facts” regarding the leadership of the Board leadership. As an example, Mr. DuPre states, “Fact; through their leadership D5 is staffed by fiscally conservative and accountable leaders who always make sure our taxpayer money is spent properly, effectively and openly.”
However, before you succumb to Mr. DuPre’s protestations, let’s examine the true financial mismanagement the D5 Board. Student enrollment grew from 16,662 to 16,894 for a
The real question is: How did the D5 Board make this happen. Simple, they “Cook the Books” every budget year there is not a board election. Each year, during budget preparation for the coming year, they understate projected revenue and overstate costs. Thus, per state law, the board requires a tax increase to balance the budget. Then, at the close of this school year revenues are up and expenses are down. The surplus goes to the fund balance account. However, Act 388 allows each District to recapture taxes not requested in
So why does the D5 Board Leadership do this? So they can build new, unjustified schools without having to ask D5 taxpayers to approve a tax increase.
This allows them to hide their gross mistakes like the $593,000 they spent buying a school site on a
How do these things