Thursday, June 3, 2010

Is the N&R Editorial Board advocating that Guilford County borrow $17 million on top of $33.99 million while burning through $89 million in two years?

At the time of printing,
the County anticipates issuing $33.99 million
of Qualified School Construction Bonds… in… 2010,
and $157.41 million of General Obligation debt in spring 2011.

An additional issue of $155.93 million is planned for spring 2012.

"…it was heartening (and pleasantly surprising) to see Yow and his fellow Guilford County commissioners step up, in a big way, two weeks ago for school maintenance funding."

Is Guilford County, NC going to burn through $89,857,200 of savings
in two years?

"… the vote authorized using nearly $17 million in federal interest-free bonds to address school capital needs and maintenance."

Could Guilford County face a $61 million budget deficit in 2011/12?
Monday, April 26, 2010

"…the commissioners have been consistently supportive of school funding, even in the face of one of the worst budgeting climates in recent memory."

Greensboro News and Record Editorial Board
Thursday, June 3, 2010

If Guilford County spends about $34 million in 2010/11
by spending excess cash down to statutory reserve minimums,
will they have to cut the $34 million and then another $27 million
from the budget in 2011/12
not counting the $17 million they just voted to borrow?
Would you want your next door neighbor who just got a pay cut
to tap his credit cards to buy a new RV?
Why would Guilford County's Commissioners
and the Greensboro News and Record Editorial Board
not want to publicly disclose budget gaps as opposed to proposed cuts?
Why is Guilford County’s elected leadership
and Greensboro’s paper of record
not informing the population of the detail of proposed finance plans
and future budget deficits that will most likely cause
substantial future tax increases?

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