Here it comes:
It looks like EPISD will have to raise 11 million more dollars next year to service their debt. That will still leave them 1.3 million dollars short.
Where will the money come from?
The chart tells you. Local revenue is their answer. Doesn’t that mean property tax increases?
If so the penny swap was a trick.
We deserve better
Of course the penny swap was a trick, because it took money out of a fund with no tax cap to put into a fund that had a tax cap. Now EPSID can raise taxes to backfill the shortage in debt service without taxpayer approval. Some of us crazies were pointing out this was the end game during the election, but teachers wanting their bonus money turned out the yes vote.
If voters would realize the city government is always conducting a scam, take a few moments to research the issue, we would all be better off.
The problem is that the public sector employs so high a percentage of people here, that our politicians can control the outcome of any election by promising job security, a raise, a bonus or some other amenity they want. Maybe furloughs will teach some of them that eventually you run out of other people’s money. The lesson to be learned is that when our local entities have to choose between paying debt service and employees, employees lose.
of course it was a trick. did you really expect honesty?
EPISD pulls a “fast one” on the tax paying public. AGAIN. Was the ‘penny swap’ a trick? Um… DUH! Like the old saying goes, “The way to know if EPISD Admin are lying? Their lips are moving.