By Bob Walsh
Five of the seven SCUSD Board of Education members.
Until today the general belief was that the Sacramento
City Unified School District was about $54 million in the hole. I am
confident this had more than a little something to do with the head of
the district bailing out yesterday.
Today news reports assert that the REAL number right now is $113 million. That is a lot of dinero.
How
does even a good-size operation get themselves more than $100 million
upside down? The answer is easy. It's OPM. (Other People's Money.)
It's not "real" and you can always get more. Until you can't any more.
I
strongly suspect that there is virtually zero chance the district will
avoid a state takeover. The employees and employee unions are already
screaming like mashed cats because such a move can legally void union
contracts and the very many union workers employed by the district could
find themselves with significantly less pay than they thought they
would be getting, fewer benefits and fewer protections.
It sucks. Sometimes life does that.
No comments:
Post a Comment