Friday, January 20, 2012

We're In The $$!!

  
According to the Town of Greece, the money received from the settlement of the Kodak tax fraud case was distributed as follows:

  • $292,277.82 to the town of Greece general fund
  • $12,185.76 to the town of Greece lighting fund
  • $368,524.40 to Monroe County
  • $147,840.11 to the Ridge Road Fire District
  • $1,081,648.91 to the Greece Central School District
(Source)

SCATS ~~ Let's see ... $2.2million from closing schools + $1.1 million from this settlement = $3.3 million. Babs only need to find another $3.7 million to balance the 2012-13 GCSD budget!! Should be a piece of cake, right? ;)
 

5 comments:

Anonymous said...

Why not go Chapter 11, like Kodak, and then we can cut the cost of benefits, retirement, and salaries? If it works for the retired taxpayers, why not the schools?

SCATS said...

To 7:45PM ~~ I'm pretty sure Chapter 11 only applies to corporations. However, I do recall that I read about some school district "declaring bankruptcy" a number of years ago. I'm not sure what happened, if anything. Maybe Laurel Heiden can tell us ;)

SCATS said...

I just looked this issue up and in NY State, schools can't declare bankruptcy. Here's the article:
http://www.monticelloschools.net/District/News/pdfs/Bankruptcy_Schools.pdf

Of course, intellectual bankruptcy runs rampant through NY educational quarters ;)

Joe Moscato said...

,You can thank the proactive members of the 2006 07
School Board for securing that 1.1 M.
TheTown of Greece tried to keep Greece Central out of
The settlement negotiations with the Feds. Seems Auberger wanted it all. no surprise here !
The Board directed our attorney James Doyle to file notice of our intent to intercede on behalf of the District.As a result,Greece Central was given top priority and given 1.1 mil.off the top ahead of Kodak and the Town.
I was proud to be a member of that group.

Joe Moscato

SCATS said...

To Joe @ 3:11PM ~~ Thank you for reminding us of that :)