Does everyone remember how the Emperor screeched incessantly about how the old board was bad and the new board was good because they defeased the bond and saved so much on interest charges? I do. I also remember when he was confronted with the question on how it would have looked if the interest rates had behaved differently. Screeching: not so much. Dodging and evasion: Bingo!
From the BCCT today comes a lesson on conventional wisdom. It's not always that conventional or wise. Morrisville uses the IU purchasing group for many items, including fuel oil. We don't need to use the diesel for our buses. Everyone walks here.
CENTENNIAL
Thanks to an independent fuel bid, the Centennial School District will be saving its taxpayers thousands of dollars through June 2009.
Centennial was considering joining group trying to get a low rate on diesel for school buses.
Instead of joining the Bucks County Intermediate Unit No. 22’s Cooperative Purchasing Group, the district made a contract with Sunoco that will save about a dollar per gallon.
For a delivery of at least 6,000 gallons, the district will be paying $3.28 per gallon from Oct. 1, 2008 through June 30, 2009.
After that, the price will be $3.37 per gallon from July 1, 2009 through Dec. 31, 2009.
The IU cooperative group’s rate is $4.33 per gallon.
Wednesday, September 24, 2008
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If the board can lambaste people for not knowing which way U.S. interest rates were going to break (something that experts make a living out of trying to do and frequently fail at miserably), then we can slam the board for not knowing where fuel oil prices were going and not locking into a lower-than-IU price like Centennial.
Reasonable people know that you can't always reliably predict these things, and cut them some slack. But who's reasonable around here?
By the way, about how much extra is that $0.96/gal premium gonna cost the district this year? I'd have to guess it's several $100,000's.
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