A no-brainer for schools

Monday, March 17, 2003 - House Bill 1032 seemed like a no-brainer.

Fortunately, state lawmakers saw it that way, too. Even though it was sponsored by two Boulder Democrats - folks not necessarily en vogue this session - it sailed through both chambers.

The bill, which becomes effective upon Gov. Bill Owens' signature, requires school district superintendents and chief financial officers to get school board approval before seeking an interest-free loan from the state.

"It's a good idea to prevent another St. Vrain," state Sen. Ron Tupa, D-Boulder, told the Senate Education Committee last month. He was a co-sponsor of the bill, along with Rep. Jack Pommer, D-Boulder.

Had the St. Vrain Valley School District board been given monthly updates on the district's loans and financial status, the nearly $14 million financial fiasco that has engulfed the district might have been avoided.

Lawmakers should be lauded for passing HB 1032 quickly and with few changes.

According to the bill, the CFO and superintendent must explain to the board why the loan is needed. A majority of the board members must then approve the request.

It's up to State Treasurer Mike Coffman to decide whether they'll receive the money.

The Colorado Association of School Boards supported the bill for much the same reason we do: It triggers an opportunity for boards to start asking questions.

Most school board members are not financial experts (although we wouldn't be surprised if some St. Vrain candidates this fall have money backgrounds) and could use the extra dialogue.

Really, it's about oversight. In these days of Enron and Qwest, it's hard to argue against more disclosure.