Tuesday, March 13, 2007

MATC: "Going Concern" Warning

Kevin brings us a most interesting choice of words from the Legislative Audit Bureau:

LAB notes that the magnitude of Milwaukee Area’s liability suggests the district could be challenged to meet its future financial obligations without significantly increasing revenues or significantly reducing its operating budget

Although the context is different, this is almost a "Paragraph of Death" wording--that is, the "going concern" warning which usually puts privately-held companies out of business when it comes from the CPA.

But what's $228 million to the Milwaukee taxpayers, anyway?

No comments: