FIS BOE VOTES TO MAINTAIN CURRENT TAX RATE

In special called session this morning at 7:30 a.m., member of the Fulton Independent Board of Education voted to maintain the current tax rate of 74.3 and motor vehicle tax rate of 78.0, with no increase for tax payers.

Superintendent Dr. DeAnna Miller explained to board members present, Carol Bransford, Debbie Vaughn, Bill Robertson, Rea Jones and Christy Pettigrew that the delay in establishing a tax rate for 2022-2023 was the result of a delay in the district receiving information from the state. The business of setting the tax rate was included on the agenda for the regular board session Aug. 16, however at that time, Dr. Miller reported she wanted to continue researching the figures provided to her. (See the related school board story in this week's print edition of The Current.)

At Monday morning's session, Dr. Miller reported following the completion of her investigation, she had determined the data listing a $13 million loss locally, reported by a Colorado telecommunications/fiber optic company, as well as other losses reported by Fulton Electric System, approximately $54,000, would have put the option of a compensating rate for the school district at 82.5, just to maintain the income level generated from the previous tax year.

Three options were provided to the board: take the compensating rate of 82.5 and motor vehicle tax rate of 78.0; maintain the current rate at 74.3 and 78 for motor vehicle tax; or take the 4% increase tax rate of 85.8 and motor vehicle, 78.

Dr. Miller's recommendation was to maintain the current tax rate of 74.3 and motor vehicle, 78.

No public hearing is required for maintaining the current rate.

"You all have been very fiscally responsible over the past five years. Because of that, I believe we will be OK to 'eat the loss'. It looks like we will have about a $200,000-$300,000 loss, with keeping the current rate," Dr. Miller said, referencing the district having "saved for a rainy day, and today, it's raining."

She also informed the board another reason it appeared a loss locally, was due to tangibles recorded as being down over previous years, related to an inability to received materials.

"This year, we are making a lot improvements in our buildings. After this, we will have to tighten our belts and keep expenditures down to make up for this loss," she said.

Board member Bill Robertson made the motion to maintain the current rate with all board members present unanimously agreeing to the motion, voting yes.