HCS Board of Education Flyer

The Hamilton Central School Board of Education had a meeting last night, and distributed a flyer briefly explaining the issues; it's public information, so I've shared a scan of that flyer on Google Docs (thanks, Amy!). It's pretty good. I would like to make a few points:

• they start out by noting that our current troubles come from an (unplanned) 21% decline in state aid, which is of course a fact, and
they list $20.29 million in future state aid as if it were a fact; it's not. It's a plan, dependent on the sustainability of New York's budget.
• Their "pro" point 1 is "Save money through economies of scale"; this only works if the plan's increased transportation costs, especially fuel, don't continue to rise.
• Point 2: "Improve the ... educational choices" might work if the economies of scale work, or the $20.29M is delivered as planned.
• Point 3: "Receive additional state aid" has the same problem.

And so on.

There are also secondary issues not raised; it's reasonably certain that Hamilton real estate values will go downwards. It's absolutely certain that the debt load to which Hamilton property owners are vulnerable will increase, since Morrisville's debt load is much higher; all such debts are subject to the usual form

The Notes will be valid and legally binding general obligations of the School District, all the taxable real property within which will be subject to the levy of ad valorem taxes to pay the Notes and interest thereon, without limitation as to rate or amount.

Of course, if the state budget turns out to be sustainable indefinitely (i.e., continues to support increased state aid rates even long after the 14-year merger period), that may not matter. It's a gamble.