District holds tax levy steady; business official cites unaudited fund equity gain and reserve adjustments

The board advanced the district’s tax-levy resolution after a presentation from the district’s business official. "The total tax levy will remain the same as we presented during budget discussions," the business official said, noting only minor tax-rate changes of up to about $0.08 per $1,000 of assessed value.

She reported unaudited fund equity changes and reserve movements the board considered in setting the levy. The presentation described an unaudited total fund equity increase (the transcript lists the figure as "$913,000.04 97"), and noted a $110,000 premium from the sale of a BAN that state law requires the district to reserve and later apply against debt. The business official highlighted an increase in a TRS subfund that helps stabilize future TRS contribution costs (the transcript lists figures in the course of the presentation as "$329,000 $369"), and also pointed out that the reserve for encumbrances decreased by $735,000 year over year due to delayed purchases and supply-chain impacts.

During the budget process the board previously approved using $750,000 in committed reserves and $2,450,000 in designated funds to offset the levy — a combined $3,200,000 designated to blunt tax impacts. The business official said the unassigned (unreserved) fund balance remains about 3.97% (unaudited), just under the 4% state cap. She also noted that the district’s audit is scheduled to begin in August and that the numbers presented are unaudited.

After the presentation a trustee moved to take up item 8.02 (the levy resolution); the motion (by Rory, seconded by Bill) carried 5-0 to move the item. The board did not detail a final adopted levy figure in the discussion transcript beyond the statement that the total levy remains as presented; the item was advanced per the board motion.

The district did not take additional public comment on the levy at this meeting.