Reply to MCPS has a $40 million deficit in its Employee Benefit Plan (EBP)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Today in the fiscal management meeting, they went into some pretty alarming details about where MCPS stands fiscally:

[youtube]https://www.youtube.com/watch?v=RppXIR2BeDY[/youtube]

Apparently, the Employee Benefit Plan (EBP) fund balance has a $40 million deficit. This deficit is directly related to the spending freeze that's currently in place and why MCPS is looking to charge for summer school and transportation going forward.[/quote]

Wonderful. Another reason to get rid of Dr. McKnight. She is a 360 degree disaster.[/quote]

How exactly is this her fault?  Not to mention the finance team has been bringing awareness about the potential flags for awhile(such as higher healthcare cost and more people acquiring them likely from things that got put off during the pandemic.  Also they were very vocal about the fact the major cuts were going to be needed for FY2024 given that we’re forced to deplete the standing fund balance, ESSR funds were going a way, and inflation, while lower still had prices overall higher.

And now upon seeing the latest project they input expenditure freezes.  What exactly do you expect them to do?

I mean I guess last year they could have cut another 70-100M from the budget, but not sure anyone would have been happy about that either.[/quote]

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