If my reading is correct, then the “median” family income has to be between $40-55K per year (gross salaries combined) to qualify as “economically disavantaged”.
The median home value in the RISD boundaries is $500K so in order to own a home here, the family income must be what? Minimum of $150K. So what is the median rent in Richardson? Its about $2000 a month. What does the family income need to be to qualify for that rental? You are at $100k minimum. So what is the median salary to live here? $90K+per census data.
The city and school district have leveraged the land value so much and so quickly that 55% of enrollment is disadvantaged AND the district has to pay into RobinHood. The purpose of RobinHood was to make sure the “disadvantaged” districts had comparable spending budgets in their schools compared to “wealthier” districts. Yet their entire budgets have increased 300% because of the valuation increases.
RISD cannot be both disadvantaged and wealthy at the same time, but that is what is happening in reality. The district is floating bond money to cover their illiquidity and over spending to the median cost per student based on state funding.
I may not be expressing the label correctly to make everyone happy, but the situation is the same. RISD student population is disadvantaged, so I have said the district is disadvantaged. And if all these numbers are correct teachers are in the ” disadvantaged” category also. Yet 85% of the budget is people costs. CoR new budget says personnel cost per employee is $120K approx. That is 3 times what a disadvantaged family supposedly earns to support the city and schools.
RISD cut $26M saying we are in this together … but the OFFCIAL budget says they are still $21M in the hole. The bottom line is RISD is living BEYOND what the economy generates AND think more RE to manage makes it all better … really???
When the numbers don’t make sense you have to look deeper.
