SCHOOL BOARDS LOSE FIRST BATTLE OVER EMPLOYEE BENEFITS DEBT - WV Has Billions In Benefit Debt

(09/30/2010)

Fifty county school boards, including Calhoun, have lost their attempt to have millions of dollars of debt taken off their financial books. Kanawha County Circuit Judge Tod Kaufman has dismissed the legal challenge in connection with the Other Post Employment Benefits Debt (OPEBD) controversy. A federal law requires governments to list the debt of future retirement payments on their books. West Virginia's debt is in the billions of dollars, millions of that connected to county school systems. The 50 county school boards filed the lawsuit claiming the debt should be listed by the State of West Virginia, not on school board's books. Judge Kaufman dismissed the case, saying the issue was more political and legislative than for a court to decide. In addition to school boards not wanting to list the debt on their financial statement, future benefits for retired school employees are in question. School administrators say making the indebtedness part of the financial record will impact decisions by school boards. The WV school boards could decide to appeal the Judge's decision to the state Supreme Court.

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