The would-be saviour of teachers has a grandiose scheme.
Refinancing some of the School Board bonds “will save $60 million.”
“How many jobs would $60 million save?” “It’s a no brainer.”
No brainer, my ass...
Apparently Rodstrom doesn’t understand that the School Board has two very distinct and separate budgets.
Operations budget, and capital budget, both of which come from entirely different sets of funds allocated by the state legislature.
And never the twain shall meet.
The Board can’t pay operating expenses from capital dollars, nor can they pay maintenance and construction costs from operational dollars.
In his real world job as an investment banker (read: highfalutin salesman,) I wouldn’t expect John Rodstrom to know it, either.
In his years as a County Commissioner though, apparently Rodstrom hasn’t learned the difference between operations budgets and capital budgets.
It’s something that corporate leaders understand while the general public does not.
Neither do any of the other blogmeisters in town.
What they’re looking for is a superhero to swoop in an save the poor teachers from that rascally inept School Board.
Keep searching guys, because it ain’t Rodstrom.
Corporate leaders can do something that elected bodies such as the School Board can’t.
They can reallocate budget dollars whenever and wherever such needs arise.
The School Board can’t do it.
Capital dollars are allocated for purchases, construction, maintenance and debt service.
Those of us in the real world call it paying off debt.
Operations dollars are allocated for salaries, benefits, and the cost of keeping the lights and water on.
And by law, the dollars can’t be mixed.
The refinanced savings of $60 million can do one of three things:
Pay off $60 million worth of principal in other debt.
Finance other construction needs halted by budget shortfalls.
Be allocated to facilities maintenance needs also handicapped by budget shortfalls.
Nice try. Too bad it won’t save the job of a single teacher.