Wednesday, June 18, 2008

So What's Another $278 Million?

IPS will be having a board meeting at Arsenal Tech High School on June 25th, 7:00 PM, to receive public input regarding a $278 million bond issue to be used to renovate 26 elementary schools and one middle school, replace two elementary schools and make additional improvements at three high schools. According to the Indianapolis Star this will add approximately $104/year for each $100,000 of assessed value.

According to the State Board of Accounts Audit for the fiscal year that ended June 30, 2007, the total current long term debt was $544,287,415. So if we add another $278 million we'll have a total of $822 million and change.

Where has all the money gone? Why are the buildings in such disrepair? Why do we throw money at them with little or no signs of improvement. Is the system unmanageable? Does it need to be split up into smaller units?

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