Tuesday, March 4, 2008

BOE Reduction At $320K, Not 1.7M

Here's an update of the BOE 1.7M reduction:

1) it was reduced by 280k as a result of retiring personnel (60k) and lower insurance costs (220k)

2) it should be reduced by taking the 560k that the BOE wants for capital from its capital reserve fund; and

3) it was reduced last night by 640k which is 80% of the 800k savings from going back to self-insured.

So the 1.7M reduction can be down to 320k. Surely the BOE can find that amount and if it can't, Ray Jankowski certainly can! Give him the books...I'll bet he can find some voodoo accounting going on over there!

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