This is a rumor I'd really like to prove false. In comments to another post today, the question was posed regarding the cost of defeasement. We knew that some $25,000 went to the Hellmann crony financial firm as payment. Here we have an anonymous poster suggesting that the real costs were some two million dollars.
Can we get some real cost numbers on this? I know a certain councilman and school board spouse would complain that this is squandering if this is true.
Blogger Jon said...
Speaking of frugal spending, is there any status information on the bond defeasement that can be shared? Have the bonds been defeased? If so, how much did the defeasement cost, just the $29,000 fee for the defeasement company?
With interest rates dropping, I'm concerned that the investments made to defease the bonds won't cover everything, and that taxpayers will end up holding the bag for the difference for years to come. I hope my concerns are unfounded, especially since this was not mentioned to the public at either at the January 23 board meeting when the board almost voted to defease, or the January 30special meeting when they did.
February 26, 2008 10:22 AM
Anonymous Anonymous said...
I hear that the defeasement cost over $2 million, and that all Board members except his highness had no idea it would cost this amount. Lovely.
February 26, 2008 1:41 PM
Tuesday, February 26, 2008
21st Century Funding Cuts-Action Needed
I just received this urgent news tip. If you have the opportunity, please help.
We had many of the club advisors work on letters with their students. There is no better testimonial than the words out of the mouths of our children. We will be sending a large packet of letters, and petitions to each of our local representatives. Additionally, we have asked all the school district employees, and the agencies that partner with 21st Century to call the offices of Patrick Murphy, Bob Casey, and Arlen Specter. The flyer below has numbers to the local and Washington D.C. Offices
We feel that the loss, or reduction of after school programs would be devastating not just to our students, but the millions of students participating in 21st Century programming nationwide. Though we have not been notified that we would among the programs affected, neither have we received assurances that we are safe.
Please consider contacting our representatives to have your voice heard. Feel free to pass these phone numbers to anyone who may be interested in helping us to be heard.
URGENT! YOUR VOICE IS NEEDED
FEDERAL GOVERNMENT CONSIDERING 21ST CENTURY FUNDING CUTS
MARK YOUR CALENDARS: February 25th and 26th –
National Call-In Days to Show Support for After School Programs.
President Bush is proposing a devastating cut to after school funds and a drastic restructure of the 21st Century Community Learning Centers. This would mean that after school programs such as Morrisville’s would not have funding needed to remain in operation. If you want to show opposition to this proposal, we are urging you to participate in a National Call-In Campaign to support after school programs on February 25th and 26th.
On February 26th the US Secretary of Education, Margaret Spellings will be testifying before the House of Appropriations Committee responsible for after school funding and we want Members of Congress to know that their constituents do not support the President’s proposal to cut and reconfigure the 21st Century Community Learning Centers Program.
Together we can send a message that after school programs are critically important to the success of our children and youth and that the President’s proposal should be rejected. Encourage your partners, colleagues and friends to call in n behalf of the millions of youth who need a safe, productive and inspiring place to go to during the after school hours.
Congressman Patrick Murphy –
215-826-1963 (Bristol Office) 202-225-4276 (Washington Office)
Senator Bob Casey –
215-405-9660 (Philadelphia Office) 202-228-0604 (Washington Office)
Senator Arlen Specter –
215-597-7200 (Philadelphia Office) 202-224-4254 (Washington Office)
We had many of the club advisors work on letters with their students. There is no better testimonial than the words out of the mouths of our children. We will be sending a large packet of letters, and petitions to each of our local representatives. Additionally, we have asked all the school district employees, and the agencies that partner with 21st Century to call the offices of Patrick Murphy, Bob Casey, and Arlen Specter. The flyer below has numbers to the local and Washington D.C. Offices
We feel that the loss, or reduction of after school programs would be devastating not just to our students, but the millions of students participating in 21st Century programming nationwide. Though we have not been notified that we would among the programs affected, neither have we received assurances that we are safe.
Please consider contacting our representatives to have your voice heard. Feel free to pass these phone numbers to anyone who may be interested in helping us to be heard.
URGENT! YOUR VOICE IS NEEDED
FEDERAL GOVERNMENT CONSIDERING 21ST CENTURY FUNDING CUTS
MARK YOUR CALENDARS: February 25th and 26th –
National Call-In Days to Show Support for After School Programs.
President Bush is proposing a devastating cut to after school funds and a drastic restructure of the 21st Century Community Learning Centers. This would mean that after school programs such as Morrisville’s would not have funding needed to remain in operation. If you want to show opposition to this proposal, we are urging you to participate in a National Call-In Campaign to support after school programs on February 25th and 26th.
On February 26th the US Secretary of Education, Margaret Spellings will be testifying before the House of Appropriations Committee responsible for after school funding and we want Members of Congress to know that their constituents do not support the President’s proposal to cut and reconfigure the 21st Century Community Learning Centers Program.
Together we can send a message that after school programs are critically important to the success of our children and youth and that the President’s proposal should be rejected. Encourage your partners, colleagues and friends to call in n behalf of the millions of youth who need a safe, productive and inspiring place to go to during the after school hours.
Congressman Patrick Murphy –
215-826-1963 (Bristol Office) 202-225-4276 (Washington Office)
Senator Bob Casey –
215-405-9660 (Philadelphia Office) 202-228-0604 (Washington Office)
Senator Arlen Specter –
215-597-7200 (Philadelphia Office) 202-224-4254 (Washington Office)
Parent Action Alert
Here's a reminder about the upcoming school board meetings on this Wednesday night, February 27.
The Education Committee and Human Resources Committee meetings are at 6:30 and 7:00 in the G-hall conference room.
The business meeting starts at 7:30 in the LGI.
Parents: the future of your children is being driven simply by dollars and cents. Decisions will be made solely on this basis and will not address parental concerns. According to people who attended the last parent advisory meeting, the Emperor made it clear that the goals that the parents have for their children carry less weight than the wishes of the taxpayers.
This is not automatically bad. Frugal spending is a good thing. However, while the digital-style process of adding columns of numbers proceeds without errors, the analog-style education process is hardly as neat and tidy. There are costs and allowances required by law, common process, and even just plain decency that defy neat quantification. Remember how the Emperor wants to nickel and dime the special education kids? Your kids are next.
I see the other parents in the schools frequently, volunteering, assisting, or even just keeping up to date. I have not encountered a current school board member or a member of the criticism groups doing the same thing. This is an open call to anyone who can point to the critics of the Morrisville schools who put their money where their mouth is and actually volunteer their time in the schools.
The Education Committee and Human Resources Committee meetings are at 6:30 and 7:00 in the G-hall conference room.
The business meeting starts at 7:30 in the LGI.
Parents: the future of your children is being driven simply by dollars and cents. Decisions will be made solely on this basis and will not address parental concerns. According to people who attended the last parent advisory meeting, the Emperor made it clear that the goals that the parents have for their children carry less weight than the wishes of the taxpayers.
This is not automatically bad. Frugal spending is a good thing. However, while the digital-style process of adding columns of numbers proceeds without errors, the analog-style education process is hardly as neat and tidy. There are costs and allowances required by law, common process, and even just plain decency that defy neat quantification. Remember how the Emperor wants to nickel and dime the special education kids? Your kids are next.
I see the other parents in the schools frequently, volunteering, assisting, or even just keeping up to date. I have not encountered a current school board member or a member of the criticism groups doing the same thing. This is an open call to anyone who can point to the critics of the Morrisville schools who put their money where their mouth is and actually volunteer their time in the schools.
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