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Kimball board says new property‑tax credit boosted revenues; approves transfers and a 7% base‑growth resolution
Summary
The board heard that a new state property‑tax credit created a temporary revenue boost; trustees approved transfers totaling more than $1.8 million across activities, depreciation, vehicle acquisition, technology and nutrition funds and adopted a resolution allowing up to a 7% base growth in property‑tax request authority.
Kimball Public Schools trustees voted unanimously on a set of financial measures after the superintendent outlined how a new state property‑tax credit affected the district’s cash flow.
Trevor, the superintendent, told the board the district has “already exceeded what we’re expecting to get in revenue this year” because the new property‑tax credit produced additional draws and credits this fiscal year. He described the pattern as a one‑time “double dip” that increased transfers this year but will reduce future September draws.
Given the temporary revenue bump, the board approved several fund transfers: $150,000 to the activities fund, $500,000 to the depreciation fund, $750,000 for vehicle acquisition, $350,000 for technology and facility repairs and $100,000 to the nutrition fund to cover Community Eligibility Provision (CEP) shortfalls. The motion passed 6‑0.
Separately, trustees adopted a resolution to increase the district’s base growth percentage used to calculate property‑tax request authority by up to 7 percent. Board members described the change as adding flexibility — likened to a line of credit — should foundation aid or local valuations fail to cover operating costs; the board noted it has not previously accessed the full 7 percent.
Board discussion also covered cash management strategy and bank bidding for interest rates; the district’s average daily balance was cited as approximately $3,450,000, and trustees indicated a preference for locking fixed rates in the current market. No tax rate changes were announced; the transfers and the resolution set the district’s options for future budgeting decisions.
