The Commerce Board of Education is closer to adopting a final budget for 2011-2012 that will keep the same tax rate.
But there is some concern that the fund equity balance will drop so low by the end of the calendar year that the school system will need to acquire what’s known as a “tax anticipation note” (TAN) to cover its expenses until the revenue comes in.
In her financial report, Ann Stokey told the board its fund balance is right at $2.6 million and dropping.
Cash flow woes may force BOE to borrow
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#1
Dave
on
09/18/11 at 02:28 PM
[Reply]
Not to worry, The Board of Education can always raise taxes!!! Come on BOE, raise those valuations, increase those millage rates, get some more cash flow for those deadbeat administrators and super's. They need to upgrade their SUV's, Lincoln's, and Lexus's. How else are they going to keep up with the Jones.
#2
Tax Payer
on
09/21/11 at 09:35 AM
[Reply]
On another spending matter, McCoy reported a $576,000 bid had been received for work to convert parts of the old high school into administration offices and a board meeting room.“I was a little bit disappointed and shocked at the price tag,” McCoy said. Hey Mac if your so shocked by the price tag. Why not wait until you've got the money before you spend it? If you think the folks of this town want to have there taxes raised so you and your associates can have new offices and board room you are mistaken.
#2.1
Mark Beardsley
on
09/23/11 at 07:28 AM
[Reply]
Maybe you should read this week's news: The school board set the same tax rate as last year — the same rate it's had for the previous six years.
#3
concerned taxpayer
on
09/22/11 at 04:52 PM
[Reply]
576k to give themselves a nicer office?? what's wrong with little elbow grease and perhaps some paint?
