Got To Much Money We Will Take That Off Your Hands..

Anonymous gave me a heads up about this story and asked me to put a link to the story up here. I found it and here is some of it with a link to the rest..

“For people to be holding that much in reserve, especially with everything that’s going on in our economy today, is obscene,” said Sen. Jack Brandenburg, R-Harrison Township.

Brandenburg, chairman of the Senate finance committee, said he will introduce a bill to cap rainy day funds at 15 percent of a school district’s annual operating expenditures. The more than 300 districts with surpluses bigger than that would have to spend their excess savings before receiving another dime from taxpayers, he said.

School districts, which face state aid cuts of $471 perstudent in Gov. Rick Snyder’s budget released Feb. 17, said the plan punishes the fiscally prudent.

“It’s the most ludicrous thing I’ve ever heard,” said John Krolewski, superintendent of Genesee County’s Bendle Public Schools, which has a $4.6 million general fund surplus equal to 33.2 percent of its annual operating costs. “We’ve been very frugal,” and now “we’ve got someone out there who says, ‘You’ve got too much money.’ ” Read The Rest

 

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