"There is desirable treasure,
And oil in the dwelling of the wise,
But a foolish man squanders it."
There's are no words; TPPF this morning:
Bottom Line: Austin ISD hasn't been a high priority since we curbstomped their bond two years ago. If they want to pass profligate budgets, they can become a priority very quickly. The next round of elections is in November 2016, and Austin ISD trustee races are always low-turnout affairs at the end of a VERY long ballot; they would not be difficult to swing.
TPPF Statement on Austin Independent School District Proposed 2015-16 Budget
AUSTIN, TX – Today, the Austin school board will consider adopting a $1.1 billion budget for 2015-16 that spends 8.9 percent more than the previous year’s budget. Texas Public Policy Foundation’s Center for Local Governance Director James Quintero issued the following statement on the proposed budget:
“AISD’s budget is set to see a near-double digit increase at a time when student enrollment is shrinking and homeowner tax bills are soaring. The district’s inability to live within its means will add another $168 per year to the average homeowner’s property tax bill, further exacerbating Austin’s affordability crisis and likely leading to even more students leaving the area.
“AISD’s latest budget snafu highlights not only its problem with budget restraint, but also its difficulty with debt. In the district’s latest budget proposal, debt service payments constitute almost 10 cents of every dollar spent, which is money that is not going to the classroom but instead going to help pay off the district’s $1.2 billion in total debt.”
Personal Note: Cahnman's Musings would like to lavish praise on the Texas Public Policy Foundation for catching this monstrosity. Their diligence is the only reason we found out about this. If you are a person of means, do feel free to support their work here.