Now that he’s about to leave office, Commerce superintendent of schools James “Mac” McCoy has some advice for his board of education as it prepares for the new school year.
McCoy, who departs on July 1 for Auburn, AL, offered that advice during the board’s “work session” meeting on Thursday, June 6.
He first advised the board of the necessity of acquiring another tax anticipation note (TAN), essentially a line of credit of up to $1 million to tide the school system over until property taxes are paid in December.
“Along that same line, the system probably is going to really need to entertain a millage rate increase this year,” he said. “We’re up at 19 (mills). We might as well break ground for the new person (McCoy’s replacement) and start talking about it.
“(The cost of) benefits are absolutely wiping out school systems,” McCoy continued. “You need to seriously consider going up. How far up is y’all’s call. Another mill puts us at 20 and increases our revenue by $150,000 to $160,000. You just got to do it.”
For the full story, see the June 12 edition of The Commerce News.