Sunday, January 27, 2013
Warnings and Senate Education Subcommittee reports
As the Hercules City Council prepares to vote in February on the Measure E debt limit waiver, I thought it was important to share the following. Today, I sent this reply (see below) to the Managing Director of KNN Public Finance, Mr. Olson.
My point is this. How can anyone be expected to approve such bond measures when the Senate Education Subcommittee has recently reported that accountability, checks and balances, and oversight of these monies is inadequate, warranting the formation of a new state-level oversight committee?
Recently, the state issued the following warning as a result of poor financial decisions made by some school districts. These districts are now in a very difficult situation because the oversight was not in place.
Members of the Hercules City Council were included in the following communication.
Posted by Giorgio Cosentino at 12:09 PM