School board votes no tax increase

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New Haven, Mo. – Thursday evening New Haven School District Board members unanimously passed a resolution to keep the current operational tax rate of $3.9448 and the debit service levy at 53¢, which comes out to an overall tax rate of $ 4.4748. (Current tax rate)

The overall tax rate of 4.4748 comes from combining the operational tax rate and debit service levy.  The 53¢ debit service levy has remained unchanged since voters passed a bound issue in 2008 and was the amount taxpayers were promised.  This amount is how the district is able to payoff the voter approved bound.

Superintendent Kyle Kruse said, “Franklin County finalized their assessed evaluation amounts and we received about 10 thousand dollars less than LJ Hart’s estimate, which was the figure used in drafting this year’s budget, roughly increasing our budget deficit from 23 thousand to 33 thousand.”

Kruse said, “Our operational tax rate levy of $3.9448 should be sufficient for operations.”

Even with the projected deficit, the district still has approximately 23% of reserve funds available, meaning 23% of total tax revenues received are uncommitted funds.

The board will look to refinance the current bound in December, which will save the district money over its lifetime.

Kruse said that overall, financially we are in good shape and if we had something completely unexpected occur we do have access to additional funds in the worst case scenario.

The board’s next monthly meeting will be Wednesday, September 12 at 7 p.m. at the district’s central office.