TAX RATE HEARING September 27, 2012
TAX RATE HEARING September 27, 2012
I. ROLL CALL Meeting called to order by President Maynard at 6:33 p.m. A. Board Members Present Dr. Maynard, President Present Mr. Harrison Present Mr. McCarthy, Vice President Present Mr. Lewis Present Mr. Engelbach, Treasurer Absent Dr. Sucharski Present Mrs. Stringer Present B. Central Office Staff Present Dr. Schonhoff, Superintendent Present Mrs. Rhame, Associate Superintendent Present Mrs. Genge, Director of Finance Present Mrs. Johnston, Board Secretary Present C. Others Present Leigh Ragsdale, Rhonda Harrison, Julie Villa, Tom Diggs, Art Bond, Scott Readnour, Jackie Kocurek, Melissa Hildebrand. II. APPROVAL OF TAX RATE HEARING AGENDA A motion to approve the Tax Rate Hearing agenda as presented was made by Mrs. Stringer, seconded by Mr. McCarthy and approved by a show of hands vote of 6-0 III.
TAX RATE HEARING A. Tax Rate Ceiling as Determined by State Auditor for 2012-2013 of 3.6419 B. Assessed Valuation (AV) as Certified by the County Clerk The total is $242,282,008 in AV. Of this amount, $1,012,940 is attributed to new real estate construction. C. Levies Required 1. Operating (Incidental & Teachers) Funds – A levy of $3.6397 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 $.9994(debt service fund ceiling). Establishing a $.9493 levy will not cause balances to increase, but will allow for sufficient balances to meet district obligations. Capital Projects Fund –Currently no levy is needed in the Capital Projects Fund. Existing balances are sufficient to meet the district planned capital expenditures for FY’12. 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 2012-2013 School Year Last year’s tax rate was $4.589 ($3.5397 in the Incidental Fund, $.10 in the Capital Projects Fund and $.9493 in the Debt Service Fund). During our regular meeting, we will propose adoption of the following levy for the 2012-2013 school year.
IV.
PROPOSED 2012-2013 LEVY Incidental Teachers Debt. Serv. Cap. Proj. Totals Tax Rate Ceiling $3.6419 $0.00 $0.9994 $0.0000 $4.6413 Voluntary Rollback $0.0022 $0.00 $0.0501 $0.0000 $0.0523 Proposed Levy $3.6397 $0.00 $0.9493 $0.0000 $4.589 Estimated Local Revenues $8,818,338 $0.00 $2,299,983 $00.0000 $11,118,321
V.
VISITORS TO ADDRESS BOARD OF EDUCATION A. Scheduled - None B. Sign Ups - None
VI.
ADJOURN TAX HEARING A motion to adjourn the Tax Rate Hearing was made at 6:46 p.m. by Mrs. Stringer, seconded by Mr. McCarthy and approved by a show of hands vote of 5-0. (Unable to obtain Mr. Harrison’s vote.)
I. ROLL CALL Meeting called to order by President Maynard at 6:33 p.m. A. Board Members Present Dr. Maynard, President Present Mr. Harrison Present Mr. McCarthy, Vice President Present Mr. Lewis Present Mr. Engelbach, Treasurer Absent Dr. Sucharski Present Mrs. Stringer Present B. Central Office Staff Present Dr. Schonhoff, Superintendent Present Mrs. Rhame, Associate Superintendent Present Mrs. Genge, Director of Finance Present Mrs. Johnston, Board Secretary Present C. Others Present Leigh Ragsdale, Rhonda Harrison, Julie Villa, Tom Diggs, Art Bond, Scott Readnour, Jackie Kocurek, Melissa Hildebrand. II. APPROVAL OF TAX RATE HEARING AGENDA A motion to approve the Tax Rate Hearing agenda as presented was made by Mrs. Stringer, seconded by Mr. McCarthy and approved by a show of hands vote of 6-0 III.
TAX RATE HEARING A. Tax Rate Ceiling as Determined by State Auditor for 2012-2013 of 3.6419 B. Assessed Valuation (AV) as Certified by the County Clerk The total is $242,282,008 in AV. Of this amount, $1,012,940 is attributed to new real estate construction. C. Levies Required 1. Operating (Incidental & Teachers) Funds – A levy of $3.6397 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 $.9994(debt service fund ceiling). Establishing a $.9493 levy will not cause balances to increase, but will allow for sufficient balances to meet district obligations. Capital Projects Fund –Currently no levy is needed in the Capital Projects Fund. Existing balances are sufficient to meet the district planned capital expenditures for FY’12. 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 2012-2013 School Year Last year’s tax rate was $4.589 ($3.5397 in the Incidental Fund, $.10 in the Capital Projects Fund and $.9493 in the Debt Service Fund). During our regular meeting, we will propose adoption of the following levy for the 2012-2013 school year.
IV.
PROPOSED 2012-2013 LEVY Incidental Teachers Debt. Serv. Cap. Proj. Totals Tax Rate Ceiling $3.6419 $0.00 $0.9994 $0.0000 $4.6413 Voluntary Rollback $0.0022 $0.00 $0.0501 $0.0000 $0.0523 Proposed Levy $3.6397 $0.00 $0.9493 $0.0000 $4.589 Estimated Local Revenues $8,818,338 $0.00 $2,299,983 $00.0000 $11,118,321
V.
VISITORS TO ADDRESS BOARD OF EDUCATION A. Scheduled - None B. Sign Ups - None
VI.
ADJOURN TAX HEARING A motion to adjourn the Tax Rate Hearing was made at 6:46 p.m. by Mrs. Stringer, seconded by Mr. McCarthy and approved by a show of hands vote of 5-0. (Unable to obtain Mr. Harrison’s vote.)
