CASAGRANDE: GIVE VOTERS INFORMATION THEY NEED BEFORE DECIDING TO BORROW FOR CONSTRUCTION
BILL TO REQUIRE PUBLIC DISCLOSURE OF COST, EXISTING INDEBTEDNESS AND PROPERTY-TAX IMPACT BEFORE SCHOOL CONSTRUCTION VOTE
WASHINGTON, D.C. – February 20, 2013 – (RealEstateRama) — Voters would have clear data necessary to make informed decisions on school construction borrowing under a proposal submitted today by Assemblywoman Caroline Casagrande.
“Ignorance is bliss until government’s credit card hits you in the wallet,” Casagrande, R-Monmouth, said. “Property taxpayers should have a few pieces of basic information before deciding to go deeper in debt to make an investment in their schools.”
Casagrande introduced legislation today that would require school districts to include some basic financial information on a ballot question seeking voter approval to borrow for school construction. On ballot questions, districts are currently required to list the total cost of the project, with a breakdown of state and local funding. The legislation would require more detailed information for a clearer fiscal picture, including:
Total debt in the school district and municipality
Estimated impact on an average property taxpayer
The project’s square-foot by pupil and dollar
“A responsibly-planned project can withstand open and honest public scrutiny,” Casagrande said. “A taxpayer’s responsibility to monitor government spending cannot be fulfilled if local officials deny the right to have basic information needed to make an informed decision.
“You don’t finance a new car without being aware of your personal budget situation and you shouldn’t approve borrowing millions for a school project without similar knowledge,” Casagrande added.
Contact:
Assemblywoman Caroline Casagrande / 732-866-1695
