A Modest Proposal?
Mr. Jackson mistakenly referred to the May 1, 2007 amount as a “modest million”. Actually it was for an immodest $2.5 million. He also suggests s the need for a $3 million Override now and even then that would only amount to $3.3 million in five years. Of course the math he does not do is five years down the road the town will have had over $15 million in additional revenue if Mr. Jackson’s Override passes this spring.
He also mentions the “almost $5 million” we currently have stashed in reserves (not including the over $1 million the Regional School has stashed in their reserves) but, curiously considers that amount “unrealistic to think we can use it to bridge the budget gaps in any substantive way going forward.”
Well if the budget gap for next year is only $2.7 million and we have almost twice that amount stashed in savings accounts then that is a pretty easy gap to bridge.
Curiously on May 1, 2007 our reserves stood at $4.3 million. And the projected revenues shortfall back then was $3.7million (as opposed to the modest $2.7 million we hear about today) and of course after the Override failed the Regional Schools ended up the year with a $1 million surplus that they instantly spent on one-time big-ticket items.
Note to Phil: the sky is not falling and the wolf is not among the fold.