Monday, December 14, 2009

This Stuff Shouldn't Be Such a Secret:

Anonymous has left a new comment on your post "Out With the Old, In with the New":

He's right. Double dipping is a term used moreso when the public-employee dual payment structure is out in the open and "directly" drawn from the same or similar source(s).

The mechanism utilized here via payment directly (via pension) and indirectly (via 65,163 salary taken from teacher dues) provides much less transparency. However in reality, Morty's PCT salary is funded indirectly by your real estate taxes anyway. Those taxes pay teacher salaries and the dues for the PCT (his employer) are funded by those deductions.

This stuff shouldn't be such a secret. Since today, other non-profits post their financial statements online (they, like the PCT are required to make their form 990 financial information available for public inspection).

Morty's answer (earlier in this blog) was that a significant component of dues fund the state teacher union. Actually only $38,000 of the 414,000.00 in the organization's annual revenue was to the state organization. The rest pays Morty's salary of 65,163.00 and lots of other interesting expenses (i.e. $7,436.00 for "Parties", $2,955.00 for "officer expenses"). The assets are interesting too (i.e. $558,879.00 in cash/investments with over $25,000 in interest income). Seems like a lot of money to me, especially considering the amount in professional expenses incurred(only $12,093 legal expenses and 5,000 in accounting).

C'mon Mr. Rosenfeld...you can't ask the board for transparency without exercising it yourself. When will you make YOUR organization's financial statements available for public inspection online?

3 comments:

  1. It would be interesting to have you scrutinize the expenses of the board also...or doesn't that align with your agenda?

    ReplyDelete
  2. You didn't answer the question.

    When will the PCT make it's organization's financial statements available for public inspection online?

    ReplyDelete
  3. This question remains unanswered from an earlier post. When will the PCT make it's organization's financial statements available for public inspection online?

    ReplyDelete