Once again, the School Committee in Tiverton is trying to distract from its approximate $1 million annual surplus by seeking credit for spending the money on capital expenses. Unfortunately, it has done so in a way that has actually cost the town hundreds of thousands of dollars. Meanwhile:
The draft audit that the Town Treasurer has been preparing to release seems to indicate that no such account existed even by the end of last June. Yet, this year, Tiverton taxpayers will have to come up with $1,342,613 to pay principal and interest on debt the town had to accept in order to repair the high school and middle school. The school department could almost pay the entire debt payment with just its annual surplus — that is, it could take the debt payment off the back of the town with just the money that the School Committee decides not to spend each year.
Something’s not adding up.