Agenda Item
Meeting Date: 5/4/2020 - 7:00 PM
Category: Old Business
Type: Info/Action
Subject: 5.2 Resolution calling an election on whether the District should increase its operating tax levy ceiling by $0.10 per $100 of assessed valuation to provide funds for the purpose of paying general operating expenses for the District
Strategic Plans:
Enclosure:
File Attachment:
Resolution Calling Election to Increase Operating Levy (Smithville R-II School District - August 2020 Election) (4).pdf
Public Notes: Based on feedback at the April 15th meeting, the second paragraph was reworded by bond counsel to be more clear for voters while meeting statutory requirements.

The recommended resolution, if approved, will allow $0.10 to be transferred from Fund 3 (debt service) to Fund 1 (operating/incidental) resulting in in a NO TAX RATE INCREASE. It is estimated the $0.10 will generate approximately $250,000 in additional operating funds while still leaving the district's debt service levy at a level to meet the district's debt obligation and in compliance with state law. The funds will be used for technology, supplies, operating expenses, and personnel expenses.
Funding :
Exec. Summary
Recommendation: Dr. Schuetz and Mr. Krueger recommend a resolution calling an election on August 4, 2020, authorizing the District to increase its operating tax levy ceiling by $0.10 per $100 of assessed valuation to provide funds for the purpose of paying general operating expenses for the District.

If this question is approved, the adjusted operating property tax levy
of the District is expected to increase from $3.9465 to $4.0465 per one
hundred dollars of assessed valuation of real and personal property
and the District expects to make a corresponding reduction of its debt
service property tax levy by $0.10 from $1.1535 to $1.0535 per one
hundred dollars of assessed valuation, resulting in the estimated
overall District adjusted property tax levy remaining unchanged at
$5.1000 per one hundred dollars of assessed valuation.

To meet the deadline established by the Missouri Secretary of State, the approved resolution must be to the County Board of Election by May 26, 2020, for the August 4, 2020, election.
Approvals:
Recommended By:
Signed By:
Wayne Krueger - Asst. Superintendent for Support Services
Signed By:
Dr. Todd Schuetz - Superintendent
Vote Results:

Original Motion
Member Sarah Lamer Moved, Member Ian Saxton seconded to approve the Original motion 'Dr. Schuetz and Mr. Krueger recommend a resolution calling an election on August 4, 2020, authorizing the District to increase its operating tax levy ceiling by $0.10 per $100 of assessed valuation to provide funds for the purpose of paying general operating expenses for the District.

If this question is approved, the adjusted operating property tax levy
of the District is expected to increase from $3.9465 to $4.0465 per one
hundred dollars of assessed valuation of real and personal property
and the District expects to make a corresponding reduction of its debt
service property tax levy by $0.10 from $1.1535 to $1.0535 per one
hundred dollars of assessed valuation, resulting in the estimated
overall District adjusted property tax levy remaining unchanged at
$5.1000 per one hundred dollars of assessed valuation.

To meet the deadline established by the Missouri Secretary of State, the approved resolution must be to the County Board of Election by May 26, 2020, for the August 4, 2020, election.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0.
The motion Carried 7 - 0
   
Russell Fries     Yes
Greg Chastain     Yes
Denney Fales     Yes
Sarah Lamer     Yes
Ian Saxton     Yes
Wade Kiefer     Yes
Len Matthies     Yes