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Former CFO responds to criticism

  1. 91% of the District's massive $715 million FY12 budget gap had already been closed through initiatives identified and implemented by the management team I was a part of -- $654 million in gap closing measures had been successfully and fully implemented as of January 2012.  (See the School Reform Commission's own January 19, 2012 public presentation on the FY12 SDP budget for verification of this claim.)

  2. Additional initiatives had been identified by my team and were in the process of being implemented sufficient to close most of the remaining gap.  (Again, see the SRC 1/19/12 presentation for verification.)

  3. The District had a fully-functioning five year plan model able to identify the available options that could be implemented to keep the School District's budget balanced over a multi-year period after FY12.  (This model was used by the Boston Consulting Group team once they arrived at the District, but it was not created by them.)

  4. The District also had a fully-developed emergency deficit financing plan prepared to insure the District would not face a cash flow crisis if other gap closing measures turned out to less than completely successful.  Again, this plan was devised by the School District finance team prior to January 2012, before either Tom Knudsen or the BCG team were engaged by the District.