Eye_of_wonder's Musings #1: Homestate's Budget Woes

[Eye_of_Wonder 0]

While looking over my Election 2008 Absentee Ballot information, I noticed something rather odd in the Maine Treasurer's Bond Issue Summary.One of the figures listed was "Unissued Bond Payments" to be payed this fiscal year. Curious, I immediatly got online and went to the Treasurer's website to follow up on this information. What I discovered was that the current process the state uses for dolling out taxpayer's money is based on a contract-bidding system; each bond note authorized (AND payed for) by voters is offered up for bidding to contractors, which pays for those company's services to get the required project done.However, not all the bond notes get awarded through this process. The unclaimed notes are kept by the State of Maine, which then charges the full amount plus interest to the tax money the Maine Government collects from it's citizens.Currently, $200 MILLION in collected tax funds will be spent for this budget item within this fiscal year. However, that money is basically flowing in a loop. The Maine government is spending taxpayer dollars to pay off the taxpayers, yet we taxpayers will never see that money. Rather, we're repeatedly informed that WE owe that money to the contractors - though no contractor has laid claim to the money in question!With this kind of system in place, no wonder the State's in the red...(sigh).Musing Summary: Where did the unspent bond money go? We paid, but it's not accounted for...?ARE OTHER STATES IN THE SAME BOAT???Solution Idea: Press for change in the Bond Issue System; print bonds only AFTER the amount has been bidded on and awarded.