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District finance staff explains 9.9% levy increase and audit delay
Summary
District finance staff David C. said the tax levy rose 9.9% (driven by reduced aid and changes in equalized values) and that the CLA single-audit is delayed by federal reporting issues; completion was expected by Jan. 15 with a February presentation planned.
David C., a district finance staff member, told the board the district’s tax levy increased 9.9%, a change driven largely by reductions in aid and shifts in equalized property values across municipalities.
"Our tax levy went up 9.9%... that doesn't mean everybody's taxes go up 9.9%," David said, explaining that the City of Superior’s share of equalized value fell from 76.2% last year to 74.2% this year, which shifts more levy burden to other municipalities.
David also updated the board on the district’s audit with CliftonLarsonAllen (CLA). He said the single-audit completion was delayed because of a federal reporting delay tied to the federal government shutdown; CLA expects to finish by Jan. 15 and district leadership plans to present the audit in February. He said the district avoided splitting the single audit to obtain interim financial statements because doing so would add unnecessary cost and complexity.
Board members asked about auditor selection and timing; David said an audit market constraint leaves few bidders and that he is using his relationship with the lead CLA auditor to expedite completion.
