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Action   10.
Regular Board of Supervisors Meeting
County Schools
Meeting Date:
08/11/2020
Approval to Levy for Cash Deficit
Submitted By:
Kimberly Madden, County Schools
Department:
County Schools
Presentation:
No A/V Presentation
Recommendation:
Approve
Document Signatures:
BOS Signature NOT Required
# of ORIGINALS
Submitted for Signature:
0
NAME
of PRESENTER:
Kimberlee "Nikki" Madden
TITLE
of PRESENTER:
Deputy School Superintendent
Mandated Function?:
Federal or State Mandate
Source of Mandate
or Basis for Support?:
15-992
Docket Number (If applicable):

Information

Agenda Item Text:

Approve levy for cash deficit correction for Douglas and Elfrida Unified School Districts prior to adopting tax rates on August 17, 2020.

Background:

The School Districts that are requesting approval to levy for cash deficit correction:
1. Douglas Unified: $850,000, Cash Deficit Correction Rate: 1.1433
2. Elfrida Elementary: $111,871.26, Cash Deficit Correction Rate: 1.3673

Department's Next Steps (if approved):

BOS approval of the cash deficit levy is required before submitting to the Property Tax Oversight Commission (PTOC) for approval.

Impact of NOT Approving/Alternatives:

The impact of not approving the rates will affect the overall budget of each district. Staff cutbacks and program cuts could result. Schools would have to rely on credit advances. 

To BOS Staff: Document Disposition/Follow-Up:

County Superintendent's Office will notify districts and PTOC of BOS approval. 

Fiscal Impact

Fiscal Impact & Funding Sources (if known):

Approval will add a cash deficit levy to the primary levy for residents within the Douglas and Elfrida school districts:

Douglas USD levy: 850,000
Douglas USD rate: 1.1433

Elfrida ESD levy: 111,871.26
Elfrida ESD rate: 1.3673

Attachments