[quote=henrysd]I just found out this site and it has good information on many Poway USD CFD bonds. It is public data in: http://mycataxdata.com/docs/ContDisc.GOB_1617_Fn.pdf%5B/quote%5D
Interesting data. I read through it, it includes how money was spent too.
Expenditures by object, pg 37 of PDF;
31.98% Certificated Salaries
14.29% Classified Salaries (support personnel, admin)
27.37% Employee Benefits
8.61% Other
8.56% Services and Other Operating Expenditures
5.53% Capital Outlay (buildings and improvement?)
3.46% Books and supplies (almost at the bottom?)
0.20% Other financing uses?
-That is a lot for benefits, not much for books and school supplies. Expenditure on ‘Classified’ salaries is also fairly large, particularly considering that a school might have over 30 teachers, but maybe 2 janitors, 1 part time electrician, 3 part time cafeteria staff.
Which is financial information for an insurance company. If you search the PDF for 738850, you will see Poway School Bonds.
Basically, an insurance companies takes your $1 and invests in tax free bonds. They eventually pays your $0.90 claim and pockets the $0.10 and all interest paid by the bond. Profiting from other people’s money – nice gig if you can get it!
