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Watchdog of the Taxpayer's Dollar Since 1956 Fairfax VA |
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If Fairfax County Public Schools cannot find $200 million each year in its $2 billion budget for buidings, how then is it able to increase staff four times faster than enrollment?
A homeowner's annual mortage cost is only about one-tenth of the amount borrowed. However, due to excessive bond sales, Fairfax County each year spends about as much repaying old bonds as it gets from selling new bonds. Fairfax County is $2 billion in debt. How can the County justify owing $2 billion when the amount it borrows each year is the same as the amount it repays for bonds already sold?
Updated October 21, 2007
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