Take a look at this EPISD report:
The voters authorized bond sales of $452 million.
At the beginning of 2019 they had issued $200 million and had spent $42 million. That left $158 million unspent.
In 2019 they spent another $72 million leaving $86 million unspent going into 2020.
Why then did they sell another $252 million in 2019 when they had $86 million sitting around?
When they sold the $252 million of bonds they were able to put the money into interest bearing accounts. So far they have generated almost $12 million from interest. The taxpayers are paying interest on bonds that have not been spent on construction. The district is getting interest on our unspent money.
The net effect is that they have been able to add $12 million to their budgets.
Unfortunately that is not enough to cover their planned spending.
The report shows that even after getting the extra $12 million from us they are still $13 million short.
We deserve better