I have been working on this idea for some time and I am ready for some feedback. please post your questions and comments.
The benefits to implement this type of community reinvestment are varied but foremost it creates local controls of investment and it changes the idea of taxing to provide for the common good.
Remember we can only talk policy if we have the legislative power to carry it out!
If we are in the minority, all our efforts should be to elect representatives that will vote for their constituents best interest.
Issue: Stable long term funding for public schools
Currently funding has three sources.
Federal and state monies with local property taxes completing the funding.
This funding scheme is not responsive to local school districts because of the gap between local needs and mandates from higher governments.
School district level endowment funds.
A bill needs to be passed giving local school districts the authority and the guidelines to set up an investment fund to provide a stable local source for public education.
Local school districts would have an investment vehicle that would allow them to raise funds locally and provide funds growth for long term district needs
Districts would have a local source of funds to supplement educational needs
Communities can voluntarily invest in their children’s educational future
Long term replacement of funding from unreliable source.
Endowment fund will need investment guidelines
State and federal money could be allocated to smaller or poorer districts to speed up the investment process
Restriction to stable bond markets will provide safe growth and reduce the risk of the stock market
Funds should have local control. This proposal is not intended to give out of state businesses an opportunity to profit.
Local banks and credit unions should be given preference in fund activities
Capping the fund size will create an end to additional fundraising for investment by the district
Spending a percentage of the yearly income will provide funds for the district and show constituents a return on investment.
Fund should be capped when it provides between 50 and 100% of the yearly district budget
Yearly expenditures should be between 10 and 20% of yearly income
Districts must publish fund activities annually to include what the fund purchased
School districts should be able to pool a small percentage of their funds to create opportunities to fund larger projects.
Local involvement and control of spending will be more responsive to district needs
Replacement of unreliable funding
Reduction in local property tax needs
Reduction in need for state and federal funding
Creating an investment fund would allow for more local sources of bond money
Communities can invest locally