The $8 Million Mystery Loan — A Masterclass in Bad Optics

0
537

Town Council Pulls The Request (Again), But The BOE’s Priorities Remain Wildly Out of Touch

Last night, East Brunswick’s Town Council pulled the Board of Education’s $8 million loan request, which probably left Superintendent Victor Valeski (aka Spin Doctor Valeski) shaking his head in disbelief.

But let’s back up.

This was not the district’s first attempt to take on a massive loan while simultaneously cutting student programming; it was their second shot at it.

Strike One: The $11.5 Million Ask

At a previous Town Council meeting, the Board of Ed came in hot with an $11.5 million loan request. That vote didn’t even make it to the finish line. It was tabled thanks to a motion made by Councilman Wendell and seconded by Councilwoman Winston.

 

Smart. Logical. Responsible.

Strike Two: The $8 Million “Repackaged” Ask

Not to be deterred, the BOE came back — this time combining Capital Improvements and Shared Services into one big $8 million lump sum, approved at their last BOE meeting.

(When this was initially brought to Council a couple of meetings back, these were two separate categories but combining them gives it that shiny, all-in-one, “nothing to see here” appeal.)

But there was something to see here.

What’s Actually In This $8 Million Loan?

Here’s where it gets borderline absurd.

→ When you’re a district in a financial crisis — cutting arts, programming, and language classes for kids — you’d think any loan would be focused on emergencies only.

Spoiler: Not the case.

The most arguably necessary item from the original list — a new roof for Irwin School — was removed from this version of the loan request.

What stayed?

  • $28,000 to remove a backstop
  • A new turf field
  • A new scoreboard
  • A new PA system

If you’re wondering how any of these are urgent needs during a budget crisis join the club.

The Debt Game Valeski Doesn’t Talk About

At the last BOE meeting, Valeski justified the loan by suggesting it was no big deal because a similar amount of debt was coming off the books this year. But that’s only half the story.

The full truth?

If this loan had been approved, total annual debt payments would have jumped from $3.7 million to over $8 million.

That’s not “debt management.” It’s a complete shift in financial strategy—one that residents were never really told about.

The Public Deserved Answers — They Didn’t Get Them

One of the more frustrating parts of this entire situation? Councilman Wendell specifically requested that either Bernie or Victor Valeski attend a public Town Council meeting to answer questions about the loan in front of the residents who would be footing the bill. Instead, Valeski told the BOE he had a private conversation with Council President McAvoy and Brad Cohen. That’s not what was asked. The whole point was transparency, not backdoor chats nobody heard. This move only added to the growing frustration that public trust is being treated like an afterthought.

The Bottom Line

→ First attempt at $11.5 million? Tabled.

→ Second attempt at $8 million? Pulled.

→ BOE’s spending priorities? Still ridiculous.

The township made the right call by pulling the latest request. But this saga exposed something even more significant:

This isn’t about managing debt; it’s about mismanaging trust.

Until this district learns to get its financial house in order and prioritize student needs over shiny objects, residents are right to keep asking hard questions.

Because turf fields, scoreboards, and PA systems won’t fix a roof… or a broken budget.