In a recent Whidbey News-Times article, “Oak Harbor School Board discusses athletics, activities’ place in levy” the reporter wrote this about Oak Harbor School Board Director Corey Johnson:
““People say we need this levy because we can’t afford the stadium,” he said. “That is totally wrong.”
The stadium is being funded by other bonds, Johnson said.”
Really? I only bring this up because on the third page of the 150 page Oak Harbor School District No.201 F-195 BUDGET document for this school year, $743,039 is shown to be transferred OUT of the General Fund and $740,459 is shown being transferred INTO the Debt Service Fund.
The General Fund is the fund which most people think of when the school district “budget” is referred to, and it is the fund most closely associated with Maintenance and Operations (M&O) levies. The Debt Service Fund is that fund via which voter-approved bonds are paid off over time. “A Citizen’s Guide to Washington State K-12 Finance” is a good place to start if you desire to know more about K-12 $$.
The $743,039 transfer OUT is specified as “Other Financing Uses–Transfers Out (G.L. 536)” while the $740,459 is specified to be “Excess of Revenues/Other Financing Sources Over/(Under) Expenditures and Other Financing Uses“.
How is it that the OHSD has “excess” revenues this year, but allegedly has had no money to buy textbooks for students for the past 10 years but also allegedly now needs to double the local property tax for the M&O levy starting next year?
Here is a screen shot of that page from the budget document. (It becomes readable at full scale if you “click” on the image, which will then open in either a new browser tab or new browser window).
Tags: Citizens for Responsible Taxation, Corey Johnson, Debt Service Fund, General Fund, Maintenance and Operations (M&O) levy, Oak Harbor Education Association (OHEA), Oak Harbor school board, Oak Harbor School District (OHSD), Oak Harbor Wildcat Memorial Stadium, school levy is a scam, Time Responsibility Incentive (TRI), TRI-Days, TRI-Pay