Wednesday, August 20, 2014

Malachi wants nearly half a million dollars to draft budget and "review" JPS finances.

The Jackson Public School Board is considering a $495,000 proposal by Malachi Financial Products to draft the next budget and conduct a long-term financial review of the district. The proposal was referred to the Finance Committee for further consideration.

JJ obtained a copy of the proposal as well as correspondence between Malachi President Porter Bingham and Superintendent Cedrick Gray. The proposal is composed of two parts. The first section states Malachi will help JPS draft a budget for $195,000 (p.24). The school board did not approve this proposal and the 2014-2015 budget was adopted without the services provided by Malachi. However, Mr. Bingham told this correspondent that the school board had some questions and Malachi would likely help the school board draft the budget next year.

Malachi proposed in the second section reviewing the budget and developing a "5-year financial management plan." that would cost $300,000. Mr. Bingham said it had conducted a similar review for the city of Jackson several years ago and helped Jackson save a great deal of money.

Mr. Bingham justified the proposal in a February 21, 2014 email to Dr. Gray. Mr. Bingham stated:

You simply do not have the staff thats qualified or experienced in this space, if so, it is not apparent based on past financial performance of the district. Therefor, this is a true staff augmentation that will seal gaps and expedite processes that will create greater efficiencies which will translate into substantial savings.

From our vantage point the District has several major challenges ahead that will potentially have a negative economic impact on the future years revenue stream. Charter schools, federal and state budgetary challenges, local governmental budgetary challenges, and inflation as the economy recovers. ... There is no apparent strategy to mitigate these risks....

However, School Board member Timothy Collins, Chairman of the Finance Committee, apparently questioned the proposal. Dr. Gray states he asked what Malachi would actually do for the services, why was it important, and why it was not a "duplication of services." Mr Collins did not return phone calls seeking comment.

The proposal was placed on several school board agendas but pulled. It was finally discussed at the March 4 meeting. However, the proposal did not appear on the agenda posted for the public but instead the agenda privately provided to the school board. The school board discussed whether to discuss the proposal for several minutes and decided to accept the private agenda item (See video below.). Mr. Collins and other school board members voiced their concerns about the proposal and referred it to the Finance Committee. The Malachi proposal has not appeared on the school board agenda or minutes since that meeting.


Anonymous said...

$500,000 would pay for 48.3333333333333% of an airport study in Madison County

Anonymous said...

study this, study that, 1/2 a million here, 1/2 a million there. what me worry?

Anonymous said...

Another study? Is Harvey Johnson hiding under the desk?

Anonymous said...

Well Jackson, y'all got Whole Foods but the rest of your shit hole remains majorly f'ed up. If Yarber doesn't intercede to stop the Malachi lunacy then all his rhetoric about JPS will be just that, rhetoric.

Anonymous said...

Another story the losers @ the C-L would only bother reporting on after the fact when it was too late for the citizenry to have a voice. Thanks Kingfish for doing what the lamestream media in Jackson doesn't know how to do.

Anonymous said...

Not a good sign when the email signature of the head of JPS has a spelling mistake.

Anonymous said...

What spelling mistake?

Anonymous said...

Please note the grammar problems or perhaps just deep aversion to the use of apostrophes in Porter Bingham's e-mail.

Anonymous said...

I believe we have local firms who can do just as good or better than an out-of-town firm. Experience tells us that Malachi is an expensive firm.

Anonymous said...

Since this group can't get mo' money from Hinds County anymore, they have to troll another source

Anonymous said...

Does Bingham have compromising photos of every ding dang governmental jockey with the ability to spend taxpayer dollars?

Anonymous said...

Have any here seen that slick, slimy mofo?

Anonymous said...

One idea would be for JPS to issue an RFP... but that is not how Porter Bingham works...

Anonymous said...

I'll do it for them for $tree fittee

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