Archive for the 'Fiscal Responsibility' Category

October
28th 2016
Not All Records Are Good Records When It Comes to Taxpayers

Posted under Fiscal Responsibility & School Finance & Taxes & Taxpayers

Records are usually good things to set. Consider Jamaican Olympian Usain Bolt’s blindingly fast 100m dash record. Or maybe you’d be more impressed by U.S. Olympian Michael Phelps’ record number of individual medals—a record that hasn’t been touched since a guy named Leonidas of Rhodes won his 12th individual event in 152 B.C. That’s right, B.C. as in Before Christ. If you’re more into weirder records, you could ponder the couple who hold the record for most tattooed senior citizens, the man who maintains the world’s largest afro, the cat who holds the distinction of being the world’s longest housecat (at about four feet in length), or the llama who holds the record for highest bar jump cleared by a llama. Yep, that’s a real thing.

But sometimes records aren’t so great. For instance, the record for “worst pandemic” goes to the bubonic plague, otherwise known as the “Black Death,” which killed about a quarter of the people in Europe back during the 1300s. My guess is that few people were excited about that one. And although tax increases are somewhat less terrible than society-ravaging outbreaks of plague (some may disagree on that point), I can’t imagine Colorado taxpayers are super excited to find out that 2016 has set the state record for mill levy overrides and bonds issues on local ballots.

According to Chalkbeat, there are 44 school districts asking their local taxpayers to approve MLOs, bond issues, or both this year. That’s about 25 percent of the 178 school districts in the state. But even more impressive is the number attached to all those requests: $4.4 billion. Egads! Continue Reading »

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September
23rd 2016
Pizza Pies and Dollar Signs

Posted under Fiscal Responsibility & School Finance & Transparency

I love pizza. Do you love pizza? Oh, what a silly question! Of course you love pizza. Everyone loves pizza! But here’s the big question: Do you love pizza enough to spend $2.6 million on it? Denver Public Schools does.

I ran across an interesting article this morning from Kyle Clark, my favorite 9News reporter, who has apparently discovered that DPS has negotiated an agreement with Blackjack Pizza for $886,730 in the first year. If the pizza “meets expectations” (whatever that means given that there is no such thing as bad pizza, only shades of deliciousness), the agreement could be extended for another two years. That brings the grand total to $2.6 million. Continue Reading »

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June
1st 2016
COPs and Robbers: A Tale of Two Jeffco Schools

Posted under Fiscal Responsibility & Jefferson County Public Schools & School Board & School Finance

It’s been a little while since we talked about Jeffco, but I couldn’t resist chiming in on a CBS 4 story proudly declaring that the district has broken ground on a “brand-new K-8 school” in Arvada’s Candelas development. The construction of a new school wouldn’t normally merit a blog post, but this particular school carries such political baggage and symbolic value that it’s impossible to ignore.

If you dig deep into the locked container in your head labeled “Jeffco Recall 2015,” you’ll probably remember a bit of a kerfuffle last year about the proposed use of certificates of participation to finance new school construction in Jefferson County. COPs, as they’re colloquially known, exist mostly as an end-run around TABOR in that they allow governments to incur long-term debt without voter approval. The Independence Institute’s Josh Sharf explains it like this:

The government, in this case a school district, transfers some asset, usually a building or set of buildings, to a special-purpose entity set up specifically to administer the COP.  That entity – not the school district itself – then floats the bond on the municipal bond market.  It then leases the buildings back to the school district for lease payments that match the bond payments.  It is those lease payments that secure the debt.  In addition, the lease comes up for annual review by the school board which, in theory, could refuse to renew.

If that sounds a little shady to you, you’re not alone. Continue Reading »

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