Tag Archives: Essex Aggie pension fund

New voke school is the ‘gift’ that keeps on giving for Peabody taxpayers

17 Sep

By Bob Croce, EOP Publisher

It’s the “gift” that keeps on giving, and now there’s reason to believe that Peabody taxpayers might be further fleeced because of an oversight when it comes to the new, totally ostentatious North Shore Technical School.

taxesYou see, the genius political movers and shakers, who built this Palace of Versailles of voke schools, forgot about a “little” obligation owed to the retirees of Essex Aggie, which was merged with the new voke.

Turns out that no one figured into the already over-inflated cost of the new school an additional $375,000 owed annually to pensioners. What that means is that Peabody, which wasn’t even part of the old district that included Essex Aggie, might be on the hook for a big chunk this oversight.

Oops! Maybe State Rep Ted Speliotis, a champion of this over-priced  educational edifice should simply throw up his arms and say … “sorry, the dog ate my homework.”

The new school, which will serve fewer than 200 of Peabody’s 6,000 students, is already taking a $3 million bite out of Peabody’s budget. This year, it was the primary reason for Peabody being forced, for the 13 straight year, to raise taxes on homeowners.

The problem now is that no one wants to own this mistake when it comes to the pension obligation, and no one seems to know how or why the oversight happened in the first place. Of course, the answer is simple as to who will “own” it. It belongs to us, and the taxpayers of all of the other communities who joined in here.

It’s too bad, since I’m sure the movers and shakers behind this over-the-top luxurious school building could have easily swept it under the rug when it came to the overall budget. Heck, no one would have even noticed. Right?

But now, we likely own it, and the question is, how much of it will be the obligation of Peabody taxpayers, whose kids never milked one cow at the old Essex Aggie?

Follow Bob on Twitter @eyeonpeabody