Lee's Summit R‑VII treasurer reports delayed tax receipts, state‑aid shortfall; recommends $4.23M internal transfer
Treasurer Dr. Herzog reported local tax bills went out later than last year, producing delayed receipts that left operating fund percent-of-budget below last year; state adequacy funding remains below target and staff recommended a $4,231,222.72 transfer from the general fund to the special revenue fund to meet obligations.
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Treasurer Dr. Herzog told the finance committee Lee's Summit R‑VII is running slightly behind on local revenue year to date (about 19.74% of expected receipts vs. 21% at the same point last year), largely because tax bills and notices went out later this year and many payments arrived after the Nov. 30 reporting cutoff.
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