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Business manager outlines $7.94M capital outlay levy plan to fund repairs, reserve and major projects
Summary
Administration presented a capital outlay revenue plan that could request the statutory maximum levy (about $7,942,427) to support security, land acquisition/self-insurance, catastrophic loss reserves and capital projects; proposed capital budget estimated at about $8.244M with projected surplus if levy realized.
The business manager presented the Department of Revenue worksheets and a capital outlay revenue plan that assumes the district could request a maximum levy of about $7,942,427 for the next budget cycle.
Administration explained how the levy formula works (Ad Valorem options and $38.69 per student alternative) and why the finance committee recommended planning for the maximum: to fund school security, build land or self-insurance reserves, and seed a capital project fund for future large projects. The business manager listed four primary buckets for those funds: school security spending (about $125,000 annually), land acquisition or self-insurance, catastrophic-loss reserves to cover high deductibles on building values, and capital project costs such as a possible CTE facility where A&E costs alone could reach millions.
He presented the revenue and expenditure worksheets showing a theoretical $8,244,000 capital budget and a projected $562,000 surplus if the maximum levy is requested; he also noted existing fund balance (about $650,000) and recent transfers to construction funds. Board members discussed the tradeoffs of levying the maximum and the importance of clear messaging to taxpayers about the four buckets of spending. No levy was adopted at the meeting; the finance committee will return a formal recommendation in July if the board chooses to pursue the request.
