Summer 2006 Did you know #3?

Holland Public Fast Facts #3
Summer 2006

Tracking the Board’s History of Financial Lies

• In 1992, the Board’s 3 Year Financial Forecast predicted a depletion in savings of $850,715 through the 1994/1995 school year. In reality, their savings grew by $1,192,294.
o That’s an error of $2,043,009

• In 1994, the Board’s 3 Year Financial Forecast predicted a total 3-year surplus of $2,473,835. In reality, that 3-year surplus was $4,981,562.
o That’s another “error” (?) of $2,507,727

• In 1997, the Board’s 3 Year Financial Forecast predicted the district would be $2,342,535 in the hole by the end of the third year. In reality, the district had a fund balance of $3,618,209.
o That’s an “error” (mistake?) of $5,960,744!!!!!!

• In 2000, the Board’s 3 Year Financial Forecast predicted the district would be $144,489 in the hole by the end of the third year. In reality, the district had a fund balance of $1,789,408.
o That’s an (intentional?) “error” of $1,933,897

• In 2006 the Board’s 3 year Financial Forecast predicts the district’s surplus will be reduced by $1,155,081. In reality the size of this deception won’t be known until November 2008.
o The amount will once again prove that the Board has no credibility when it comes to forecasting their budget.

When does an error that goes uncorrected
really become intentional deceit?