Or, Building Construction: Old and New
Tim's post mentioning how lottery proceeds were to be distributed got me to poking around. Here is what I found on this expedition:
The Public School Forum's Friday Report, which contains a chart listing the Impact of Lottery Revenue on Five-Year Facility Needs. The chart has four columns, one which list the school system, another which list the 5-yr estimate of facility needs, another which list the amount that the lottery might provide, and, most amusingly, a column which lists how many years it would take for the lottery to provide the five-year facility needs. In most cases, it is decades. Folks, I think we've been swindled. The state average is 60.2 years to give you a clue on the magnitude of the swindle.
The lowest number of years in our area is Buncombe County, with a 5-yr estimate of facility needs is $4,581,636, and the lottery might provide $1,949,579, taking 2.4 yrs to pay the needs. Macon County has the greatest number of years. The 5-yr facility needs coming in at $41,362,270 with the lottery possibly meeting $321,557 of that, taking 128.6 yrs to pay for the 5-yr facility needs.
The State Totals are: 5-yr Facility Needs $9,728,321,583, with the lottery providing $161,499,994, taking 60.2 yrs to provide for the 5-yr facility needs. Now you know why I call the NC Education Lottery, "A Tax on the stupid, for the stupid, by the stupid."
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