The 2016 financial audit for EPISD has not been published yet. Their fiscal year ended June 30, 2016 and it is reasonable to think that it will be a few weeks before it is published.
We do have the 2015 audit. Remember that in 2007 the voters approved a $230 million bond issuance. Among the projects that were approved was a new $49 million high school in northeast El Paso. Subsequent school boards have decided not to build the high school and are spending the money on other projects.
The 2015 audit includes numbers for showing the bond balance eight years after the bonds were approved. From the audit:
The 2008 Bond Capital Projects fund balance is $73.2 million and includes expenditures of $11.5 million at June 30, 2015.
Even though they have not spent all of the money that they got in 2007 they are now asking us to approve another $670 million for more construction. That is almost three times as much money as they were given in 2007 and have not been able to manage yet.
A future school board might have to work overtime to figure out how to spend the last of the $670 million a few years from now after their historically wrong projections have to be adjusted.
That’s what its called.
We deserve better