The South Dakota Board of Regents won't be helping the federal deficit in FY2010: it is treating its employees to an 8.33% pay cut in 2009. My 2009 tax return will show an income decrease of about $2600. Thousands of professors and other regental employees will experience similar cuts and thus provide Uncle Sam with less revenue to pay for the mortgage bailout and President Obama's new health care plan.
What's going on? Budget cuts? No, the Board of Regents is carrying out the payroll-shifting scheme that our man Jon Hunter referred to earlier as an absurd deception. Of course, the nice little brochure the Regents mailed me says nothing so severe: this is just a nice little plan to move payday from the last day of the month to the first day of the next month, a clever little bookkeeping move that will save $10.9 million on this fiscal year budget. Instead of handing that $10.9 million to its employees on the last day of the fiscal year, the Regents can spend that money on upgrading the wireless Internet capacity of its campuses.
Clever, indeed. I wish I could use that trick with my bank: "I know the mortgage is due today, but I'm going to buy a new laptop today, so you'll get your money tomorrow."
One set of rules for the folks in charge, another for the rest of us....
DSU is hosting sessions on the payroll change tomorrow (Thursday, Otcober 2) at 8:30 and 9:45 in the East Hall auditorium and 11:15 and 1:00 in the Technology Classroom Building auditorium. Don't expect to hear the word "deception" there, either.
Won't they have that much less money next year then? These are supposed to be educated people. I have news for them. The rest of us are also educated and can see thru this even tho they don't give us that much credit!
ReplyDeleteCory--There's also the new payroll scheme wherein those who are on contract must submit a *lack of* leave report by 5pm on the 21st of each month.
ReplyDeleteThat's right--you must report what you *didn't* do in order to get paid for what you *did* do.
This is scary for those of us without much of a safety net: I've adjusted to getting paid only once a month, but if I forget to fill out this report on time each and every month, I won't get paid that month. That means no money for the mortgage, child support, nada. I'm sure my creditors will be understanding....
Wonder what the BOR will do with all the interest they make off those who are so busy doing their jobs that they forget to report that they *didn't* take time off?
Is someone from the Leader or the blogosphere going to the meetings by the BOR and report on them. Will they ask the tough questions about their scheme to move money around, a simple sleight of hand that any third grader could understand?
ReplyDeleteIf I understand this right, they are just moving paydays around, making it look like their employees get a wage cut as it just delays payment of one paycheck by a day into the next year, and then diverting said "savings(?!) to improved technology. If this the crux of the matter?
Nonnie
I think you've got it right, Nonnie.
ReplyDeleteTo really save money why don't we completely remove the paychecks of BOR for a whole year. That should get some savings. Soungs like some of the Accountants from Enron got new jobs wit the BOR.
ReplyDeleteDude/Dudette! I still need to eat! 8-P
ReplyDeleteOh pleeaase stop the whining. The federal government did this years ago (perhaps under the Clinton administration, I can't recall, but who cares). Yes, its an accounting gimmick, but one that hurt no one, had no impact on federal and military folks or their families, and resulted in some (albeit small) benefit, (unlike Enron-like accounting of the bailout). Please find things worth fighting about and for.
ReplyDeleteanon 8:29pm.....oh this isn't worth fighting for or talking aobut? How about this is just the beginning of a new long line of gimmicks the BOR will come up with. This is just the start if enough people don't speak up.
ReplyDeleteNext maybe they will shift the pay day back two weeks and then say well you will get your last two weeks of pay when you resign or retire. I am sick of all these accounting gimmicks and messing with the bottom line. How do you think our country got into this finnancial mess. By saying well if I munipulate this just a little and no one gets hurt. Then well that work last time lets push it out a bit more. The finnancial irresponsibility needs to stop with BOR, Congress, Wellstreet and with ourselves.
I believe this is something that Governor Rounds did to fun his laptop program so how do the Regents have control of this?
ReplyDelete