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Advisory committee recommends $3.7M to Teton County School District; members press staff on reserve accounting and interest
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Summary
Advisory members voted to recommend a $3,707,330 FY27 Recreation District allocation to Teton County School District #1 and spent substantial time questioning staff about how capital set‑asides (the Brock Achievement Center reserve) are held, when tax receipts arrive, and who benefits from interest earnings.
The advisory committee recommended the Teton County School District’s FY27 Recreation District application for $3,707,330 be forwarded to the Recreation District board for final action.
Committee members asked detailed questions about program-level funding, transportation and the district’s capital reserve. Staff explained that recent grant payouts had exhausted much of the district’s carryover balance and that property‑tax receipts arrive unevenly (larger collections typically in November and May), affecting the timing of payments.
A central point of contention was the capital construction set‑aside for the proposed Brock Achievement Center. One staff member explained the carryover and accounting treatment: the capital construction fund currently holds the reserve and, as configured, interest on that account is recognized on the district’s capital books rather than remaining in the Recreation District fund. Trustees asked for bank statements and documentation of interest earned; one trustee noted that at larger balances the interest could be material and asked whether rec district taxpayers should benefit from interest on rec funds.
Trustees also discussed the mill levy level they might request in future years and how state or constitutional changes to property‑tax rules could change future receipts. Staff flagged recently passed legislation that could require splitting some interest earnings and noted the legislature’s action to recapture a portion of interest revenue, a factor the board will consider when setting future mills.
Several trustees asked staff to return with more detailed historical data about town and county contributions, the current capital construction balances, and a clear statement of how interest and set‑asides will be treated going forward. The advisory committee’s action forwards the $3.7M recommendation to the full Recreation District board for the May meeting and requests those follow‑up items before final disbursement.
"We have just finished paying out all the applications," staff told the committee when explaining cash‑flow timing, noting that the May and June tax receipts will change the carryover balance. The transcript records repeated staff offers to provide more detailed ledgers and bank statements for trustees’ review.
Next steps: The advisory committee’s recommendation will be part of the board packet in May; staff will supply the requested financial schedules and documentation on the capital construction fund, interest earnings and historical town/county commitments prior to final board action.
