Wednesday, December 09, 2015

2012: CCSD School Board Sells Capital Assets to Meet Operating Costs

A no-bid sale of valuable downtown property to cover the year's operating budget shortage? What a great idea! In 2012, the Charleston County School Board voted to begin devouring itself.

Selling capital assets to meet operating expenses is a great idea, at least according to Cindy Bohn Coats, vice-chair of the CCSD Board of Trustees. But she probably doesn't even understand what's going on.

That's the gist of her reaction to selling part of the Memminger school property to the College of Charleston in a no-bid sale. Evidently the reporter also either doesn't understand the finances or thinks it a great idea.

Such is the case in Saturday's article on the sale. CCSD provides no reason for the sale except the cash received. The school board that approved the negotiations doesn't even know how large a parcel of the original property is under consideration. Nor does it have an appraisal (well, I guess those two go together).

The reporter doesn't question the lack of space around Memminger or the necessity of splitting the property because CCSD's administration doesn't want her to. Is she even aware that the deed of the property to the district stipulates that the land be used for public education?

With great ideas such as this, the district could gradually devour itself and disappear like the Cheshire Cat.

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