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Wednesday, May 12, 2010

Rock Hill Schools Have Plenty of Money?

Rock Hill Schools don't have plenty of money. That's why this statement threw me when I heard that a couple of our local state representatives were telling folks that. Then I realized they were referring to our reserve fund. Seems they  think we should pull it down to zero. This explains a lot about why our state is in the financial crisis it is in.  I wonder if they carry zero balance in their checking account, or never pay off their credit card debt. A lot of people do, although no respectable financial person recommends it. In fact, the American School Board Association recommends schools keep between 1 and 2 months expenses in their reserve fund (Between $10 and $20 million for Rock Hill Schools). But that is not to say the Rock Hill Schools have not taken money out of the reserve fund - almost $7 million dollars in the past 9 months. At that rate, we'd be down to zero fund balance in about 18 months. What would we do  when the state cuts funding in mid-year ($5 million in cuts this year)? When we can't make payroll. Do you think those local representatives will step in to teach when we have to let teachers go because of no money? And - how do you think parents will react when their children get their classrooms changed (or programs completely dropped) in mid-year? 

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