$90 Million Bond Measure
At the bottom of this page is a brief summary of my analysis of the proposed $90 million bond measure. Below are links to official District documents that support my arguments that this bond measure is a bad idea.
Click here for a copy of the statement that I read at the Board's meeting on November 27, 2001 to explain my concerns regarding the upcoming $90 million school bond election.
Click here for a copy of a recent interview in which I discuss the waste of millions of dollars of the District's general funds and the waste and bungling of tens of millions of dollars of construction funds.
Click here for a copy of the ballot measure.
Click here for a copy of an official District memorandum that told the Board in February 2000 that there should be a surplus of $4.9 million to $7.6 million. This turned out to be VERY inaccurate. By November 27, 2001, a scant 21 months later, the staff was admitting to a deficit of $18 million, and the TRUE deficit was closer to $25 million.
Click here for a copy of a spreadsheet that I faxed to the staff in February, 2000, questioning their math.
Click here for a copy of a memo from staff dated November 28, 2000, projecting a relatively small deficit. Even as recently as one year before the current $90 million bond measure was approved, the CURRENT staff was projecting a deficit of less than 10% of the deficit that they admitted to on November 27, 2001.
Click here for a memo from staff that shows that even as late as May 16, 2000, the staff was projecting a surplus of almost $2 million. As you can also see from my notes on the memo, I had a lot of questions about this. Unfortunately, we had an inexperienced Board and the new Board majority at the time had little interest in exercising oversight over the construction budget.
Click here for a copy of the spreadsheet that the Board relied on in coming to the $90 million figure. As I will show in a spreadsheet of my own (next item in this list), at least $50 million of this is fat and/or highly questionable.I apologize for the image quality -- this is a scan of an oversized spreadsheet, which I will incorporate into a friendlier format when I get time. You might want to go fix a snack while this page loads.
Click here to see the plan that the Board supposedly relied on in authorizing the $90 million. If you don't like pork or stupidity, beware.
Click here for a copy of the original budget for the $77 million bond issue that was approved in 1993. As explained in my statement at the Board meeting on November 27, 2001 when the Board voted 4 to 1 to approve the $90 million bond measure, it appears that the District will exceed the original $77 million budget by approximately $56 million, with little in the way of extras to show for it. Amazing!
Click here for a copy of the report from the District's bond advisors. As you can see, the assumptions regarding property value increases over the next few years are highly questionable. This will cost property owners a lot of money if, like most of the District's numbers, these prove wildly inaccurate.
Click here for a copy of District propaganda touting the wonderful facilities that resulted from the first round of construction. Sort of makes you wonder how they can turn around a few weeks later and say that they need another $90 million, but remember that there is no shortage of mendacity or chutzpah in Beverly Hills.
Click here for a copy of an official District report that shows that there are over 600 students who live outside Beverly Hills and attend the District schools based on permits. Also, it is well know that hundreds of students falsely represent that they reside in Beverly Hills, and this number may be as high as one thousand or more. No one know for sure, because very little resources are devoted to policing this. Nonetheless, the last page of the current plan proposes twelve new classrooms at the K-8 schools and thirty new classrooms at the High School. A very large amount of the $90 million will go to such empire building, which will hurt the resident students in profound ways.
"I'm not worried. How many voters will take the time to check the facts before they feed me another $90 million in the name of helping kids."