Korten on Med Trust Fund
Bob Korten requested that I post the following:
Attached are two summary sheets showing the balance of the Education Medical Trust Fund for the 04/05 and the 05/06 years (for easier reading, click on the images below to expand each). These summary sheets are passed out by Michael Milone at the first work shop of the budget process. The final balance at the end of 04 was 443,283 . However, Michael Milone said the actual amount was 960,000. The difference was money left over from the 04 budget put in the Medical Trust Fund. The balance of this Trust Fund grew to 1,927,145 as of 2/28/05... an increase of about one million dollars. I looked at the balance at 2/28/06 and it was 1,618,155. My concern was the fact that the trust fund balance increased by one million dollars in the year of the zero budget. We were told by some politicians that the wheels would fall off our education system because we were not properly funding it. However the BOE was able to increase the medical trust fund by one million dollars. Again as I said with the false ad made by Tom Gaffey don't believe what some politicians say.
Bottom Line - come to the work shops - get involved - make your own observations - your nameless comments on Tim's blog mean very little.
9 comments:
For the zero budget year the Supt should openly inform the taxpayers how he ran the school for two fiscal years for the same amount of money. He originally asked for 2.2 mil increase and got 234k increase. With contractual salary obligations, historical 20% requested increases in medical benefits how was he able to do it? He scared the sports parents by saying sports would be cut, so he got parents to "donate" to keep sports. If he was so concerned about where he was getting money from how did he increase the medical trust fund balance? Remember, 96% of the school budget has nothing to do with the experience of learning inside a classroom. Very little is spent on curriculum, books etc.
Could it be that what he had to pay was less? Is it that easy?
Yes If the balance at the beginning of 05 had not increased then I would agree that he did not have a lot of money. However he funded it like any normal year. It is important that people learn how this works. I believe this year that the medical fund could be reduced. In order to under stand why you have to under stand how it works.
In the medical fund the Supt. has a way to come up with extra money. He appropriates a certain amount of money every year for this account. Once money is put into this account it has to be used for medical claims only. If he sees that his medical expenses are lower, he just doesn't put the money in and uses it for other things. There has to be greater oversight in regards to the BOE budget.
He also got $50K in parking fees that year ($250 x 200 spaces) which shows up no where in the budget as income.
anon: 8:58
No it was not that easy. He did not have to pay less. His contractual obligations for salaries alone was a 1.4 mil increase, then add utilities and all other required expenses. So if he had to pay more than the year before where did he get the money? The schols di not fall apart, nothing was left out and the parnets were tricked into paying more for Dodd and freshman sports. When the people put unquestionable trust in the their leaders they will always be taken advantage of. The the residents that blindly support the Supt and BOE are getting taken advantage of. There was a way to fund the Technology Initiative the Supt wanted all at once, but to do so would expose the game that has been palyed with the nedical insurance account and trust fund for years. There are other communities within our ERG that have gotten 0 increases in their medical costs for the past two years, and they have the same insurance company. Wonder why that is?
why does Bob squeek when he talks
It appears to be a cross between the shell game and three-card-monty. Did someone say SLUSH FUND?
When the Supt and Town manager get their medical costs renewals from the broker and choose not to belive them, is that not a problem. As the Supt said one night to critics of his budget; you are not professional educators, we are and do a better job. So, the Supt is not a professional medical insurance broker, what gives him the right to disagree with the professional?
Post a Comment