Phyllis Pfeiffer Publisher Steve Dreyer Editor
THURSDAY, SEPTEMBER 20, 2012 PAGE 9
EDITORIAL
Why an outside audit?
A
n announcement by Poway Unified School District Supt. John Collins regarding the controversial capital appreciation bonds issued last year leaves us scratching our heads. During last week’s school board meeting Collins said the district is retaining the services of an “independent forensic accountant” to examine certain aspects of the issuance bonds, approved by district voters (not living in Mello Roos districts) to pay off the balance of the “Building for Success” school upgrade program involving 24 of the district’s campuses. The so-called Proposition C “Series B” bonds cannot be refinanced and the district taxpayers will not begin paying on the $105 million until earlier bonds are retired, in 20 years. Since interest will accrue, taxpayers will end up paying nearly $1 billion by the time the bonds are paid off 20 years later. Collins and school board have been feeling some political heat over the use of CABs. They have repeatedly defended their decision by saying that CABs are commonly used throughout the state (the district itself issued a $3 million CAB as part of the earlier Proposition U program), that recession-related market conditions beyond their control increased the interest rates and that extending bond payments out another 20 years at the current repayment rate of about $55 per $100,000 of assessed valuated was exactly what voters approved in 2008. The district has also insisted that it has been forthright and transparent about every aspect of how the school improvement program was run and financed. So, all that said, why hire a former FBI agent to look into how the matter was handled?
Collins said the expert will focus on five questions: • Did the district act responsibly upon the market information it was given at the time of decision? • Was the district given advice and counsel based on the highest industry standards? • Are there any issues of integrity with any parties involved in the transaction? • Were the fees paid to the parties involved at or below industry standards? • Were the processes that were followed acceptable industry standards? So this district-hired expert will pore over the records of the transaction and render an opinion on whether everything was on the up and up. We would be surprised, shocked even, if the final report concluded that anything was amiss. Cynics will say a positive report is expected, since the district is paying for it. As stated here before, the area where the district fell short was in 2007, and again in 2010, when it failed to clearly communicate that it had run out of construction money, that it needed more money to finish the work and that they faced three choices: stopping the project, raising property taxes or proceeding with a long-term bond. Officials knew in November 2010, when the bonds were authorized, that CABs would be used and that they would include a no-call provision. We also said that it appears that nothing can be done about the CABs, since they can’t be refinanced. To protract the second-guessing on all this by bringing in an outside auditor is, from where we sit, a waste of time and district (taxpayer) funds.
Bulldoze the berm I’m sure the engineer’s motives were virtuous when they designed the Blue Sky Ecological Reserve parking lot, but building a dirt berm to hide the cars from Espola Road was not a good idea. If the parking lot could be seen from the street it would be much more difficult for thieves to break into vehicles. To add more insult to the design, copper wire thieves have stripped the wire from the parking lot lighting. Let’s bulldoze the berm.
Ted Sandall Poway
Street fair disappoints
My family and I recently attended Sunday’s Poway Days Street Fair. We were amazed at the lack of attendance and more importantly — how few family activities were available. I would guess that 80 percent of the vendors were businesses. I counted at least three solar companies alone. Another 10-15 percent of the booths were political in nature. While there is nothing wrong with this, it would seem that this event would be better suited by calling it what it is: a business fair. We left after 10 minutes; there simply wasn’t anything for us to do. It would be great if Poway had a traditional street fair with cultural events, family fun and of course, lots of food. I am sure many people worked very hard to put this event together, but I think it’s missing the mark and not representing Poway as well as it could.
David Smith Poway
WHAT’SHERE The editorial reflects the views of the owner of this newspaper. The political cartoon, letters to the editor and Viewpoints reflect the views of the authors and may or may not represent the views of
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Time for drone oversight Every Thursday afternoon at the General Atomics plant in Poway, home of the Predator drone, the San Diego Veterans For Peace and supporters are holding a demonstration. The goal is enlightening the public on the desperate need for oversight regarding drone
technology. The Predator drone is flying over 16 countries now, loosing weapons over Yemen, Somalia and Pakistan. The kill statistics would be unacceptable in any conflict but are somehow overlooked because we are at war with terrorism. Known civilians: 500-plus, known children: 65-plus, known terrorists: 25. The president has authorized the CIA to kill people with the Predator if they only suspect that they are involved in terrorist activity, clearly in violation of international law. But still the Predator kills someone about every four days. It’s hard to believe that our president has the power to kill people without authorization from Congress, or oversight of any kind. This fact should deeply worry all Americans. On our borders Homeland Security is flying 20 of the Predator drones, and if local law enforcement wants them to surveil someone’s private property, Homeland Security is happy to help out. Video or sensor data can be collected and shared with “select” law enforcement and government officials. Clearly illegal is the Predator’s surveillance of private property here in the U.S., only it’s taken in secret and controlled by no judiciary oversight. We can all participate in making judicial oversight happen by calling our congressmen and demanding drone legislation that protects American liberties and the lives of so many innocents overseas.
Dave Patterson Ramona
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etters to the editor should be typed and limited to 250 words. They must include the author’s name, address and daytime phone number. We do not run unsigned letters. Letters may be sent by email to editor@pomerado news.com or composed online at www.pomeradonews. com. They may also be mailed to: Pomerado Newspapers, 13475 Danielson St., Suite 110, Poway, CA 92064.