CCA to reduce district tax levy
OXFORD– The board of directors for the Clear Creek Amana (CCA) community school district approved the certified budget for the 2014-2015 fiscal year as well as Physical Plant and Equipment Levy (PPEL) and School Improvement Local Option tax (SILO) budgets.
On Wednesday, April 9, during a regular meeting at Clear Creek Elementary (CCE) in Oxford, board secretary and district financial officer Lori Robertson walked the board through the certified budget for $70,951,010 with a spending authority of $63,448,108. The budget includes a reduction in the property tax rate from $15.31 to $15.26 per $1,000 of taxable valuation. Outside Amana, the rate is $15.06 due to the $0.20 library tax for Amana residents.
A public hearing was held for the budget on April 9, with no one stepping forward to speak.
The PPEL and SILO budgets were approved a week later during another regular meeting, also held at CCE.
The PPEL budget is projected at $1,726,194 for the 2015 fiscal year (FY), which starts on July 1, and is distributed only to categories such as equipment (busses, other vehicles), site improvements (playground equipment, landscaping), building improvements (HVAC, plumbing, electrical) and technology and equipment (computers, copiers and even band instruments). The fund is financed through a .33-cent property tax, a levy approved by the voters in the district and a three percent income surtax, also voter approved.
The FY 2015 SILO budget is projected at $3,413,951 and comes directly from sales tax revenue. Much of the SILO dollars are allocated to SILO bond payments. Such bonds do not require voter approval, unlike General Obligation bonds. SILO bonds are issued in anticipation of receiving the sales tax generated revenue. For FY2015, $540,000 will go toward principal payments on outstanding SILO bonds; another $553,871 goes toward interest payments. $285,000 is set aside for expenditures such as maintenance. The total amount available for expenditures for the new fiscal year is $582,065.
District superintendent Tim Kuehl made his recommendation for the board to approve the PPEL and SILO budgets.
“We think this takes care of all of our needs with a little extra for a cushion, or neat opportunities (such as a proposed stand-alone classroom for technology offerings through Kirkwood).”
The budgets were approved unanimously.