Let’s not commit to a $3 million program
Advice that state aid is “money just sitting in Albany,” as the Richfield Springs Central School board was told recently, makes one wonder  what’s the advisor’s vested interest here and  how intelligence-challenged does that advising entity think Richfield is?
The subject, as reported in last week’s RS Mercury, was some $533,858 “awaiting the [school] district in Albany” for something cleverly called EXCEL, for Expanding our Children’s Education and Learning. The suggestion was, so we could enjoy that largess from the legislature, we should borrow 4.6 times that much ($2,466,142). That would result in a total program expenditure-value of $3,000,000, an amount mandated by the aid-givers.
An argument in favor of such a $2.466 million borrowing commitment was that, if we borrowed all the money for a $3 million program, school taxes would rise even more.
RSCS board members noted that many of the proposed expenditure items simply represent a “wish list.” For that and other reasons, how about we don’t commit to that $3 million program at all? That way, we don’t need to borrow either $2.466 million or the entire $3 million.
How about if someone advised the advisers in this case of this FACT: Financial Aid Creates Taxation.
Or, as Lee Iacocca once famously noted, “there ain’t no free lunches in this country.”
Town of Warren