Wednesday, May 28, 2014

Palladium-Item Reports Richmond Schools to Discuss Impact of Property Tax Circuit Breakers

From the Richmond Palladium-Item:

During Wednesday’s meeting of the Richmond Community Schools board of trustees, director of business affairs Karen Scalf will discuss the impact of tax circuit breakers on the district’s funding in 2014.

The board will meet 5:30 p.m. Wednesday in the administration building board room, 300 Hub Etchison Parkway in Richmond. The meeting will be broadcast on WCTV.

Funds impacted by the state’s tax circuit breakers include capital projects, transportation and school bus replacement.

Although the school system plans its budget to allow for circuit-breaker credit losses and unpaid taxes, every number is an estimate until the county abstract of taxes is calculated and the tax bills are released, according to a report that will be presented at the meeting.

The anticipated amount of lost revenue by fund includes $655,584.22 for capital projects, $535,164.70 for transportation and $100,997.02 for school bus replacement.