At the October 26th HSE School board meeting, yet another bond was approved. As an outsider looking into the process of decisions being made by both our schools and our local city officials, it seems scary and concerning the amount of money that is continually approved that comes from the taxpayers – that comes from us. In seeing it from the outside, it looks like we, the community, are being nickeled and dimed for a lot of money. It is easy to overlook this because the money appears to be going to our schools; however, that would be a bit fiscally irresponsible.
Within HSE this year alone, there was a referendum passed, a ten million dollar bond, and most recently a $5.5 million bond as well. This is on top of the property taxes we are already paying that go to the city and then partially come back to our schools as well. For those living in Fishers, there is the additional move to bump up the tax rate as well as the new $25 wheel tax.
While each of these individually don’t seem like much, when a person starts watching and listening, it can become concerning that large amounts of money are being shifted around without a lot of oversight by the community.
The question becomes – is this an issue?
In many cases, the answers I’ve gotten when asking questions around school and city financials have made sense. For example, with what was described as an annual $10 million dollar bond the school does, there is no increase in taxes to the community because at the same time the new bond is starting, an old bond is ending. The net result is that the pull from the community wallets remains the same. With the $5.5 million dollars that was approved at the October 26th meeting (2016), the money will be covered by refinancing existing debt at a lower interest rate. As such, your money that would have been used to pay interest on school debt will be redirected to pay this $5.5 million resulting again in no increase in taxes to the community, but rather just shifting where the money they were already taking will go.
When asked why the school system couldn’t simply reduce the burden to the community instead of keeping the savings, the answer was that no new increase was happening. While this didn’t really answer the question of reducing the tax burden, an additional comment was made that by retaining the money, the school system is able to fund tasks earlier. Spending that was planned to would occur in 2017 could now be done in 2016. This would open up more budget dollars in 2017.
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