Approve cash deficit correction as stated in House Bill 2815 (chapter 68) prior to adopting tax rates on or before August 20, 2018.

The four schools that have an ending cash deficit are Benson, Bisbee, Douglas, and Elfrida. 

Benson $370,491 calculated increased rate: 0.5384
1. Revenue did not match their budget capacity due to 16/17 carry forward not being incorporated into their tax rate for 17/18 and underestimating enrollment for 17/18.
2. There was a tax judgment that reduced their tax levy by at least $70,000.00.
3. They have carry forward from 17/18 budget in the approximate amount of $40,000 that needs to be covered in their tax levy for FY18/19.
4. They had an outstanding line of credit payment at July 1 that needs to be covered. Bisbee $311,445.17 calculated increased rate: 0.5845

Bisbee's cash deficit is due to the under collection of required tax revenue during the budget year.  Required correction for the district is to collect the cash shortage in FY19 which requires approval of an increase in the tax rate. Douglas $1,963,278.93 calculated increased rate: 2.7701

Douglas Unified has carried a negative cash balance since March 2018 in their general operating fund.  They have not used their line of credit; first time in the past three years.  Their special projects fund 100 has been supporting their negative balance.  Their goal is the run their general fund in the black this year.  To attain this goal, they request the rate to cover their cash deficit. Elfrida $22,540.00 calculated increased rate: 0.2682

Elfrida's deficit is due to a credit line carry over balance.