[Winona Online Democracy]
The state established a rainy day fund for the purpose to deal with downturns in the economy which all knew would happen at some time. I understand that the reserve is or will be close to one billion dollars and that if spending is controlled and normal by the middle of next year the revenue stream will more than cover current forecasted needs. That would however restrict new initiatives for spending. It is also important to note that the best way to stay even in real dollars to start with cuts since some items by their nature have built in increases. Paul Double [EMAIL PROTECTED] >Resent-Date: Tue, 20 Nov 2001 14:56:49 -0600 >From: Stephen Hacken <[EMAIL PROTECTED]> >To: "'Online democracy'" <[EMAIL PROTECTED]> >Subject: [Winona] State Money >Date: Tue, 20 Nov 2001 14:58:46 -0600 >[Winona Online Democracy] > >Just to change the subject for a few minutes. > >My grandfather always used to say that you have to be careful what you ask >for, because you might get it. I think this applies when looking at school >funding in Minnesota. > >The 2001 legislature spent considerable dollars taking over basic funding >for schools in Minnesota. The money did not go into providing schools more >money--it provided property tax relief. The Winona district, like the other >two districts in Winona County, passed a referendum to provide additional >funding. > >I see in today's Minneapolis paper that all state agencies have been ordered >to come up with budget cuts averaging between 5 and 10% because the state's >income and sales tax collections are substantially less, up to $1 billion >depending on who is making the estimates, than were the projections. >Included in this memo was that K-12 education should be looking at cuts as >well. > >In the past, a preferred taxing system was spread out among property, sales >and income taxes. Sales and income taxes are more based on an ability to >pay; property taxes are more steady since the economy does not influence >them as much. > >Wouldn't it be just wonderful(sarcasm) if our schools still have to cut >programs even after the voters pass a referendum? > >Steve Hacken --------------- This message was posted to Winona Online Democracy Please visit http://onlinedemocracy.winona.org to subscribe or unsubscribe All messages sent to the list must be signed with your actual name. Posting of commercial soliticitations is not allowed on this list. Report problems or questions to [EMAIL PROTECTED]
