At the May 23 board meeting VVSD board denied the accuracy of the PMA Securities presentation which was taken off the district website after the April 12 board meeting. (Click here to view the board meeting video. My questions are from 16:30 - 24:15.)
Yet, the $17 million tax levy reduction contained in the document was accurate enough to be reported numerous times in local media, here, here, and here.
The $29 million net present value was accurate enough to be stated at the March 14 board meeting by board member Rick Gougis in response to my question about the total debt. At that same meeting, the $29 million and $17 million were accurate enough for Supt. Grizaffi to include them in the Finance Committee Report. But the $83.5 million total debt, from which the other two numbers are derived, is inaccurate?
Even if the final total debt figure does change (Supt. Grizaffi said it should be expected to be $20 million less), this will still result in tens of millions of dollars in additional district debt that taxpayers never got a chance to vote on. If the final total debt number is less than the $83.5 million will the district spin it as a "savings" to the taxpayer?
Board president Steve Quigley said the PMA Securities presentation was only put on the district website because of Open Meetings Act requirements. Did board members take the Open Meetings Act into account when JAR Consulting was hired without board approval to draft and jam through legislation, ensuring they could extend district debt repayment, burdening future generations with unnecessary debt?