http://burkeonboard.com/2008/11/wait-just-a-minute-or-a-year/ Notes from a Farmington school board member Wed, 17 Dec 2008 17:59:31 -0500 http://wordpress.org/?v=2.8 hourly 1 http://burkeonboard.com/2008/11/wait-just-a-minute-or-a-year/comment-page-1/#comment-8 Public Pension Bailouts by 401k Holders Coming Thu, 27 Nov 2008 15:53:04 +0000 http://burke4board.com/?p=703#comment-8 [...] As a result of past teacher union agreements, a school district is liable for retirement health care insurance premiums for current and some future teacher retirees. (The district has limited the number by negotiating the benefit out of contracts during the past few years.) This school district currently budgets a line item expense of about $330,000 for these premiums. Now, however, this district wants to remove the budget line item and replace it with a bond that would cost all homeowners in the community about $50 - $60 a year for upwards of 30 years. The kicker is that law allows this school district to arbitrarily impose this bond without voter approval. Of course, what hasn’t been explained is what the district plans to do with the current $330,000 budget line item. This is explained further here. [...] [...] As a result of past teacher union agreements, a school district is liable for retirement health care insurance premiums for current and some future teacher retirees. (The district has limited the number by negotiating the benefit out of contracts during the past few years.) This school district currently budgets a line item expense of about $330,000 for these premiums. Now, however, this district wants to remove the budget line item and replace it with a bond that would cost all homeowners in the community about $50 – $60 a year for upwards of 30 years. The kicker is that law allows this school district to arbitrarily impose this bond without voter approval. Of course, what hasn’t been explained is what the district plans to do with the current $330,000 budget line item. This is explained further here. [...]

]]>