Troy School District treasurer outlines fiscal picture as board approves certified tax rates pending correction

Treasurer Jeffrey Price told the Troy School District Board of Education on April 13 that final settlements for the district’s first tax bill have been received but do not yet reflect late legislative changes enacted in December.

Price said he has heard inconsistent guidance from the Department of Taxation and county auditors and that the district does not yet know the dollar impact of the changes. "We don't know what the dollar effect is going to be to us with those late legislative actions," Price said. He added that the district's income tax and state grants are tracking as anticipated and that capital outlay purchases are on schedule.

Board members debated whether to approve the county-certified tax rates — which the district says reflect the pre-legislation calculation — and asked whether the county is collecting on the incorrect figures now. Administration confirmed tax bills were issued based on the prior calculations and advised taxpayers to pay half of their full-year tax bill if they had questions.

Board member Reddick moved to approve the rates "as submitted, pending future anticipated modification," and the board carried the motion on a roll-call vote. The treasurer and other administrators said the district expects adjustments and will reapprove corrected rates later in the year once county guidance is finalized.

The board also received a routine monthly financial report, which Price described as "right where we thought we would be at this point" for revenues, personnel costs and capital outlay.

The board did not adopt a permanent tax change at the meeting; instead, it accepted the county-certified numbers while recording an expectation of future corrections.