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Lee's Summit R‑VII treasurer reports delayed tax receipts, state‑aid shortfall; recommends $4.23M internal transfer
Summary
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.
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.
“We did not start to receive some of our local revenue until late late November, early December,” Dr. Herzog said, explaining that mailed and emailed tax notices went out closer to Thanksgiving this year rather than on Nov. 1 as in 2024,…
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