School Board Meeting
Board Votes 5-4 to increase borrowing from $127 to $139 million.
October 25, 2018
The agenda can be found at https://www.boarddocs.com/pa/avongrove/Board.nsf/Public and included the following important votes under the header, Business Office:
5.02 Motion to approve the AGHS Schematic Design as presented at the 11/8/18 COW Planning and Construction Committee meeting
5.03 Motion to approve the Parameters Borrowing Resolution for the issuance of General Obligation Bonds in the maximum aggregate principle amount of $139,000,000.
5.04 Motion to approve the Interest Rate Swap Resolution and the adoption of the Interest Rate Management Plan
Many of us assumed that the School Board meeting would be canceled because the AG schools were dismissed early. It only makes sense that if school buses should stay off the road then parents and residents should also stay off the road. However, that was not the case. The school board met anyway.
Five school board members (Lisi, Wolf, Engel, Billig, and Wood) voted to approve the borrowing resolution of $139 million, which is $12 million MORE than what was the previous "ceiling" of $127 million. Auerbach, Weber, Dumont, and Beatty all voted no. Borrowing the original ceiling of $127 million was going to be challenging for the school district and would require maximum real estate tax increases for at least the next 5 years. How is the district going to manage borrowing even more money? It is interesting to note that at the last Finance Committee Meeting, the implementation of a 1% Earned Income Tax by the school district was discussed. Is the administration considering an addition revenue stream to help cover these ever-increasing costs for the new facilities?
It is clear that we need a school board that will spend our tax money as if it was their own and work diligently to control the costs of the new facilities. Area taxpayers will have a chance next year to let this school board know how they feel. There will be 5 seats up for election in 2019.
*Call to Action
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