Thank you to all who requested this during Monday's meeting.
Update September 13, 2017 5:54 PM Why did it take FIVE years for the Feasibility Study to show up? This should be called The Million Dollar Cover Up!
Feasibility Study
This study was conducted by Pursuant Ketchum to assess the feasibility of a capital fundraising campaign by the Mt. Lebanon School District. The study was conducted in May and June of 2012.
A Special Study and Report on the Fundraising Potential of the Mt. Lebanon School District.
Update September 13, 2017 6:45 PM How things changed drastically since Monday's meeting.
Capital Campaign Financial Report for 7-17 Loan from General Fund $910,930.02
Capital Campaign Financial Report for 8-17 Reserve from General Fund $910,930.02
Where is the paper trail? The school board directors never approved the loan or the "reserve." Finance Director Jan Klein calls this an investment, not a loan!
There was no paper trail as to why Andrew Cappucci's job posting was "altered" nine months after he was hired either. There is never a paper trail.
Mary Birks is under investigation with the PA Ethics Commission for a conflict of interest.
Elaine Cappucci is on the Capital Campaign and is running to replace herself on the school board.
Dan Remely fired off a personal attack toward Mike Riemer. Mike was asking too many questions on Monday night. Both are running for re-election.
Katie Caste is on the Capital Campaign and just changed her "About Me" reference to the Capital Campaign to now say "Nearly a million dollars has been raised." The claim originally was $1.2 million dollars has been raised. Katie Caste is running for school board on the Timmy Ticket with Mary Birks, Elaine Cappucci, and Dan Remely.
What BS!
ReplyDeleteThe Capital Campaign took in according to the newly revised financial report a total of $966,473.68. Of that revenue $318,544 is in pledges not yet received. Another $25,000 pledged and not yet received is from the MTLCommunity Foundation.
Deducting the pledges which may or may not come in that left the campaign with $622,929.68 to spend "to support public education is a new reality of school funding. Through private support, we have additional resources to invest in academic, fine arts and athletic programming that would otherwise not be possible."
Oh gee, isn't that great! They raised $622,929.68 in actual money to invest in academic, fine arts and athletic programming.
Big problem though, they spent $734,722.36 to raise that $622,929.68. So the Capital Campaign is $111,792.68 in the red.
Add in $310,906.47 in disbursements and the school district has effectively lost or spent money they didn't have to the tune of $422,699.15.
Even adding in the pledges they're still in the red by almost $100,000.
Jan Klein is investing over $910,000 of district money in this venture. Is she insane?
Oh wait what is she calling that money now... Reserves from General Fund.
Excuse me but why does a fundraiser need almost a million dollars in reserve for? The goal... get this -- is to raise money?!
If it's not doing that just shut it down, not throw good money at it.
Glad to see they've hidden all the names of people sucking money out of this operation. So much for transparency and accountability.
$622,929
ReplyDelete+$318,544
___________
$941,473
$250,000 Waltons
$175,000 Conovers
$150,000 McMurry
$70,000 Lamprinakos
$294,000 left - so the bulk is from 3 families.
Let's just say add in other "sizable" donations from:
Jo Posti
Dale Cable
Dione Cahillane
Elaine Cappucci
Katie Caste
Beth Evans
Larry Lebowitz
Robert Mallery
Preston McMurry, Jr.
Lisa Sullivan
So, the people that are angry or concerned about their pledges because of last month's NO votes, are really the same people.
Yes, please let the light shine in.
ReplyDeleteThat $25,000 pledge from the MTL Foundation for Education to the Capital Campaign... why?
Aren't the goals of the Foundation and the fundraiser essentially the same? Did Sloane pledge another MTL education charity's money into the Capital Campaign just to make the numbers look good?
That's called "cooking the books" in business.
2:35, I believe it was reported that Steinhauer also made a contribution after he got a big bonus.
ReplyDeleteI don't see any of the big artificial turf requesters names in the donor list!
3:25 PM, Timmy gave $5000.
ReplyDeleteElaine
The generosity of the donors should be appreciated.
ReplyDeleteIt's just too bad so much of the money never made its way to the kids and was eaten up in overhead instead.
Caste's site has been corrected to read nearly a million dollars has been raised.
ReplyDeletehttp://www.partnersstudentsuccess.com/about_us/katie
The money did make its way to the way it was directed, but unfortunately the district lost money in the process.
ReplyDeleteElaine
Only $310,906.47 was disbursed according to the financials..
ReplyDeleteThe top three donors alone gave $575,000 so a lot didn't go where it was suppose to go.
We have had three Capital Campaign directors since the Campaign began. How do you build lasting relationships with donors if you keep flipping Campaign leadership?
ReplyDeleteSo they did put their money where their mouth is. Kudos to them.
ReplyDeleteYes 5:06 kudos to them, but where did the money go?
ReplyDeleteDon't forget the goal was $6 million in 5 years.
Comparing the RTK copy of the Capital Campaign to the one currently on the MTLSD website, the LOAN from General Fund is now called RESERVE from General Fund. I can't find a paper trail as to when this was moved. The school board directors never voted on it.
ReplyDeleteElaine
Be sure to read the latest updates.
ReplyDeleteElaine
Why in heavens name would they move over $900,000 out of the General Fund and put it into a losing fundraiser?
ReplyDeleteWhy not just use it for enhancing educational items directly?
As of 8/31 the balance of money left for this campaign is $500,830.87.
ReplyDeleteAny bets on when the money dries up?
Nick M.
Nick---
ReplyDeleteHalf a million dollar in the hands of this crew? When will it dry up? Let's see, let me look at my watch.
S.
You can be fairly certain that half million won't dry up going towards academics.
ReplyDeleteSo when it does dry up, do they hit the taxpayers for another $900,000 and tell the taxpayers how successful the campaign is working?
ReplyDeleteHere's the latest spin by Mary Birks to me:
"I am proud that the Board had an open, honest and direct dialogue about the benefits that this Campaign has had for our students in our district schools, and how it has also ensured that the burden on taxpayers is lessened by utilizing the Campaign for providing innovative programs and purchasing equipment through the generosity of many donors throughout our community."
Apparently she doesn't understand the numbers very well.
Nick M.
How in the world can Birks possibly consider the fundraiser a success?
ReplyDeleteThey spent $734,722.36 in salaries, benefits, office supplies, and other and only disbursed $310,906.47.
Essentially for every dollar they put out for academics, fine arts and athletics, they spent two dollars to bring each of those dollars in! How can anyone defend the fundraiser as a success?
Why didn't they just use the $310,906.47 from that $910,930.02 loan (or investment) money from the General Fund?
I wonder how long a business or company would be in business with Birks running it with her grasp of finance.
Ms. Birks, how does the Campaign "ensure" that the burden on taxpayers to provide innovative programs and equipment is lessened.
ReplyDeleteThe Campaign's financial report shows that the taxpayers had to pump in $910,930 to keep the campaign solvent.
That isn't lightening the taxpayers load, it's made it heavier.
Pretty sure you read this blog, so please explain your rationale.
In a 2015 an Almanac article reported:
ReplyDelete"Posti, who co-chairs the capital campaign with fellow former school board member Carol Walton, agreed with his assessment.
“We’ll probably be seeing a lot more of this type of funding in my kids’ lifetime,” Posti said. “It’s exciting for us to create a model for what can be done to support public schools.”
"Seeing a lot more of this type of funding in my kids' lifetime?" God help us-- NO! I don't think anyone can afford it!
Mary Birks will say anything to keep her name relevant. She's banking on the fact that people will take her quote at face value and say, "golly gosh, that Mary Birks sure cares about this school district. And she's so cheerful!! I love Mary Birks! People, vote for Mary Birks!" Folks, please know that Mary Birks does nothing unless it benefits Mary Birks. She needs to be called out and voted out.
ReplyDeleteMost reputable nonprofits spend less than 5 pct of funds donated on administrative costs. MtLebo Capital Campaign spent 117 pct of funds received on administrative costs (734,000/623,000). Now is the time for the Board to declare success and stop this interminable expenditure of property taxes.
ReplyDelete