September 28, 2010 at 7:00 pm in INFORUM
For the second time this year, Minnesota is “borrowing” money from public school districts to keep its own cash flow going.
Tags: Education, funding, K12 education, Minnesota, Schools 1 Comment »
It’s ridiculous. The cities and schools of rural Minnesota that HAVE been fiscally responsible are now holding up the state.
It’s like out of control parents taking money from their teenagers savings accounts and paying them back without interest “next year.” Plus, the schools have also been told that they have to consider that they have already been given that money even though they won’t see it until May and may NEVER see it. Why should our schools have to borrow money at high interest rates to cover for the state?
Cities are in the same position. The cities that have been responsible tend to see the huge hits in LGA cuts. Why is that? What incentive is there at the local level for fiscal responsibility from here on out? If the state is going to eye the reserve accounts of every city and school, then those entities might as well spend every nickel that they have today, for they know not what tomorrow brings..
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