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Board authorizes one-time $880,815 homestead-credit reallocation to operations fund
Summary
The board authorized a one-time transfer of $880,815 from the debt service fund to the operations fund under 2026 legislative provisions to spread the fiscal impact of the supplemental homestead credit; staff said the debt-service cash projection would remain about $1,540,000 after the transfer.
Mrs. Libby recommended the board authorize a one-time transfer of $880,815 from the debt service fund to the operations fund to redistribute the fiscal impact of a new supplemental homestead credit established in the 2026 legislative session (referred to in the packet as HEA 12 10). She said the transfer does not change the district’s overall cash balance but would shift some of the impact away from the operations fund, which is already absorbing circuit-breaker losses.
"Based on the district's levy, the DLGF was able to calculate $880,815 may be eligible to be transferred from the debt service funds cash balance to the operations fund," Mrs. Libby said. She noted the projected year-end cash balance in the debt service fund, after transfer, would be about $1,540,000. The board moved, seconded and approved the authorization to transfer $880,815.
Board members asked for visualization materials to explain the impact to the public; Mrs. Libby said she would work with staff to post helpful slides and potentially create a dashboard for the district website.
