September 26, 2013
September 26, 2013
I.
Tax Rate Hearing ROLL CALL Meeting called to order by President Maynard at 6:35 p.m. PLEDGE OF ALLEGIANCE A. Board Members Present Dr. Maynard, President Present Mrs. Stringer Present Mr. McCarthy, Vice President Present Mr. Lewis Present Mr. Engelbach, Treasurer Present Mr. Stewart Present Mr. Harrison Present B. Central Office Staff Present Dr. Cornman, Superintendent Present Mrs. Rhame, Associate Superintendent Present Mrs. Genge, Director of Finance Present Mrs. Johnston, Board Secretary Present C. Others Present- Steve Murray, Ray Bess, Eddie Moreno, Kim Glessner, Margie Burris & Drew Crews.
II.
APPROVAL OF TAX RATE HEARING AGENDA A motion was made to approve the Tax Rate Hearing agenda as presented by Mr. McCarthy and seconded by Mr. Stewart and approved by a show of hands vote of 7-0.
III.
TAX RATE HEARING A. Tax Rate Ceiling as Determined by State Auditor for 2013-2014 of 3.7580 B. Assessed Valuation (AV) as Certified by the County Clerk The total is $242,561,447 in AV. Of this amount, $1,175,900 is attributed to new real estate construction. C. Levies Required 1. Operating (Incidental & Teachers) Funds – A levy of $3.7580 fulfills the minimum levy requirement in SB380. Debt Service Fund – We are eligible to accumulate a balance in the Debt Service Fund equal to one year’s payment. To do this we could establish a levy of $1.0298(debt service fund ceiling). Establishing a $.9493 levy will allow for sufficient balances to meet district obligations. Capital Projects Fund –Existing balances are sufficient to meet the district planned capital expenditures for FY’14. D. Prop C Rollback Calculation With the passage of a full waiver for Proposition C in April of 1998, we are not required to roll back our tax rate ceiling. E. Proposed Tax Rate for the 2013-2014 School Year Last year’s tax rate was $4.7103 ($3.7610 in the Incidental Fund and $.9493 in the Debt Service Fund). During our regular meeting, we will propose adoption of the following levy for the 2013-2014 school year.
IV.
PROPOSED 2013-2014 LEVY Incidental Teachers Tax Rate Ceiling $3.7580 $0.00 Voluntary Rollback $0.0000 $0.00 Proposed Levy $3.7580 $0.00 Estimated Local Revenues $9,115,459 $0.00
Debt. Serv. $1.0298 $0.0805 $0.9493
Cap. Proj. Totals $0.0000 $4.7878 $0.0000 $0.0805 $0.0000 $4.7073
$2,302,636
$0.0000 $11,418,095
V.
VISITORS TO ADDRESS BOARD OF EDUCATION A. Scheduled - None B. Sign Ups- None
VI.
ADJOURN TAX HEARING A motion was made to adjourn the Tax Rate Hearing at 6:57 p.m. by Mr. Engelbach, seconded by Mr. McCarthy and approved by a show of hands vote of 7-0.
I.
Tax Rate Hearing ROLL CALL Meeting called to order by President Maynard at 6:35 p.m. PLEDGE OF ALLEGIANCE A. Board Members Present Dr. Maynard, President Present Mrs. Stringer Present Mr. McCarthy, Vice President Present Mr. Lewis Present Mr. Engelbach, Treasurer Present Mr. Stewart Present Mr. Harrison Present B. Central Office Staff Present Dr. Cornman, Superintendent Present Mrs. Rhame, Associate Superintendent Present Mrs. Genge, Director of Finance Present Mrs. Johnston, Board Secretary Present C. Others Present- Steve Murray, Ray Bess, Eddie Moreno, Kim Glessner, Margie Burris & Drew Crews.
II.
APPROVAL OF TAX RATE HEARING AGENDA A motion was made to approve the Tax Rate Hearing agenda as presented by Mr. McCarthy and seconded by Mr. Stewart and approved by a show of hands vote of 7-0.
III.
TAX RATE HEARING A. Tax Rate Ceiling as Determined by State Auditor for 2013-2014 of 3.7580 B. Assessed Valuation (AV) as Certified by the County Clerk The total is $242,561,447 in AV. Of this amount, $1,175,900 is attributed to new real estate construction. C. Levies Required 1. Operating (Incidental & Teachers) Funds – A levy of $3.7580 fulfills the minimum levy requirement in SB380. Debt Service Fund – We are eligible to accumulate a balance in the Debt Service Fund equal to one year’s payment. To do this we could establish a levy of $1.0298(debt service fund ceiling). Establishing a $.9493 levy will allow for sufficient balances to meet district obligations. Capital Projects Fund –Existing balances are sufficient to meet the district planned capital expenditures for FY’14. D. Prop C Rollback Calculation With the passage of a full waiver for Proposition C in April of 1998, we are not required to roll back our tax rate ceiling. E. Proposed Tax Rate for the 2013-2014 School Year Last year’s tax rate was $4.7103 ($3.7610 in the Incidental Fund and $.9493 in the Debt Service Fund). During our regular meeting, we will propose adoption of the following levy for the 2013-2014 school year.
IV.
PROPOSED 2013-2014 LEVY Incidental Teachers Tax Rate Ceiling $3.7580 $0.00 Voluntary Rollback $0.0000 $0.00 Proposed Levy $3.7580 $0.00 Estimated Local Revenues $9,115,459 $0.00
Debt. Serv. $1.0298 $0.0805 $0.9493
Cap. Proj. Totals $0.0000 $4.7878 $0.0000 $0.0805 $0.0000 $4.7073
$2,302,636
$0.0000 $11,418,095
V.
VISITORS TO ADDRESS BOARD OF EDUCATION A. Scheduled - None B. Sign Ups- None
VI.
ADJOURN TAX HEARING A motion was made to adjourn the Tax Rate Hearing at 6:57 p.m. by Mr. Engelbach, seconded by Mr. McCarthy and approved by a show of hands vote of 7-0.
