Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
CFO updates on audit, bond schedule and construction excise tax options
Summary
The district’s CFO reported audit preparation and bond schedule timing, and the board discussed whether to raise the construction excise tax (current rate cited as $1.35 per $1,000 per square foot) with staff asked to provide analysis on collections under different rates.
Speaker 10, presenting financial matters, told the Molalla River School District board it is closing the books and preparing for an audit that begins at the end of August; there are no significant changes to the projected ending general fund balance. The general obligation bond schedule remains on track and the district will receive ratings at the end of July.
The board discussed the construction excise tax, with Speaker 10 noting the district is currently charging a rate of $1.35 per $1,000 per square foot and that state guidance permits increases (the speaker said rates could be raised to at least $1.67). Board members expressed differing views on whether to raise the rate and whether commercial projects should be treated differently from residential; some members said more analysis is needed before changing the rate, asking for a historical revenue comparison and projections under alternate rates.
Speaker 10 said staff will prepare an analysis for recent years and show projections under different rates so the board can weigh fiscal benefit against potential development impacts.
What happens next: finance staff will prepare a multi‑year comparison and projections for the construction excise tax options and report back to the board; audit preparation will continue.
