When I first started paying attention to matters of the school board back in March, I was shocked with what I had found: out-of-control spending, a broken budgeting process, and a seemingly disengaged Board of Education. As I dug into the school’s finances, I turned up more and more disturbing information. For example, the sum of the Principal’s salaries in Appendix C don’t match the budget line item on page 42 (Section 2020.150). The over-budgeting in that line could fund 2-3 more teaching positions alone! To hear the whole sordid tale, read my full account in the following links:
A Financial Analyst’s View of the New Rochelle School System – Part 1
A Financial Analyst’s View of the New Rochelle School System – Part 2
A Financial Analyst’s View of the New Rochelle School System – Part 3
A Financial Analyst’s View of the New Rochelle School System – Part 4
A Financial Analyst’s View of the New Rochelle School System – Part 5
Adam D. Egelberg, CFA
Appreciate the transparency
I commend Adam Egelberg’s diligence and impassioned citizenship.
Only good things can come from the attention drawn to the NR school board’s activities. Responsible budgeting must track revenues.
For the consequences of irresponsibility, Newburgh’s example is frightful.
Adam, please continue to pursue your efforts. We must find the right mix of school quality and tax burden to preserve New Rochelle’s appeal.
– Philip
Thank you Adam
You have presented such a complete package. Hopefully, the Board will take a look at the information you have uncovered and realize citizens want the truth.
I am very thankful that interested people have come together and are willing to work to make New Rochelle better for all.