To distract you, CUSD shouts the sky is falling! The sky is falling!
CUSD is trying desperately to scapegoat the State of California for the financial problems that CUSD created through their OVERSPENDING problem.
The sky is falling! The sky is falling!
They’re hoping you won’t remember and hold CUSD accountable for their actions:
- Built and overpaid for a School Pool they can’t afford to pay off, operate and maintain,
- Ran up enormous Redevelopment Bond debt WITHOUT VOTER APPROVAL for all the “pretty buildings” they now enjoy,
- Issued risky Certificates of Participation debt instruments WITHOUT VOTER APPROVAL that involve leases-purchases of public school property,
- Got Coronado to vote for a property tax hike in 1998 with Prop KK General Obligation bonds on the ballot,
- Isn’t really paying off its share of the $71 billion CalSTRS teacher pension debt.
Empty Threats Can’t Hide Overspending Problem
What a mess they created, all because they refused to make the hard decisions to make the required cuts to their annual budgets over many, many years!
CUSD’s financial trouble was a long time in coming. There’s no quick fix.
The public financing scheme proposed in Prop E won’t fix CUSD’s overspending problem. In fact, the Prop E scam will only “kick the can” down the road and enable CUSD to continue to waste our tax dollars instead of helping the children.
If CUSD lived within its means there would be no “budget gap.” An unbalanced budget is a sign of financial failure on the part of CUSD, not the State or any other scapegoat to whom they like to point.
This Bond Ploy Will Ruin CUSD
Piling more property tax hikes upon Coronado homeowners through Proposition E bonds will not save CUSD. The fact is CUSD can’t get out of debt by issuing additional debt.
CUSD needs to be smarter and work harder in order to solve its overspending problem.
Real financial leadership is required at CUSD — not this Prop E bond ploy presented as a “budget stop gap” measure. “Budget stop gap” means “kick the can down the road.”
The only option is that CUSD must make the hard cuts if they want to continue to educate students.
Vote NO on Prop E on June 3!