Tax Ratification Election Presentation

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Tax Ratification Election Presentation

  1. 1. AN UPDATE ONSCHOOL FINANCE& TAX RATIFICATION ELECTION
  2. 2. THE TEXAS LEGISLATURE UNDER-FUNDED EDUCATIONBY $5.4 BILLION FOR A TWO YEAR PERIOD!
  3. 3. WHAT IMPACT DOES THIS HAVE ONGEORGETOWN ISD?
  4. 4. 2011 2012 2012 4.8 $7.2 2013 2.4Million Million Million in State Aid
  5. 5. BESIDES STATE AID REDUCTIONS Revenue per student frozen since 2006. No additional revenue due to increased property values. Reduction also in Federal Entitlements. Increased operational costs.
  6. 6. WHAT HAS GISD DONE TO MEET THESECHALLENGES OF REDUCED REVENUE?
  7. 7. Georgetown ISDPERSONNEL REDUCTION HISTORY Employees Reduction 2 2010-2011 1692 - 0 2011-2012 1570 (122) 8 2012-2013 1484 (86)
  8. 8. Three YearSalary/Benefit Freeze for all Employees
  9. 9. Elimination of all MajorCapital Purchases
  10. 10. OTHER REDUCTIONS Use of Substitutes - Sub BenefitsStaff Travel - Supplies - Bus Routing Trash Pickup - and more ...
  11. 11. GEORGETOWN ISDCURRENT BUDGET ANALYSIS
  12. 12. !"#"$%&()#* +#$,&&-"#.%#*/0"$%1#23,4.40"$5.)*"#.!",$%--!! +-$#--! +-$*++! +-$**-! +-$(#! +-$((! +-$*--! !",$-#)!!!",$---!! +-$+#,! +-$&--! !")$*%!! !")$),)!! !")$#*(!! +-$---!!")$%--!! $-&! !")$(*+!! !")$(*(!! $,--! !"#$(!!!")$---!! $#--! !"#$#%&!! $%-,! $*--!!"#$%--!! B528DDE15:! /0123456!789:9!021915:1;! $&--! F89:9!012!G:?;15:! <=:>8?:!@AB!:3C19! $-,&!!"#$---!! $---! &--%.-#! &--#.-)! &--).-,! &--,.-! &--.+-! &-+-.++! &-++.+&! &-+&.+(!
  13. 13. At theend of 2012 $653,674 2013 General Fund Deficit
  14. 14. GEORGETOWN ISDTAX RATE INFORMATION
  15. 15. TAX RATE COMPONENTS General Fund (Maintenance and Operations M&O) Predominately used for employee salaries and benefits. Utilities, Supplies, Equipment, Travel Contracted Services Debt Service (Interest and Sinking I&S) Can only be used for payment on bonds sold to construct district facilities. Cannot be used for operational costs such as salaries.
  16. 16. Williamson County School DistrictsTOTAL TAX RATE 2011-2012 Hutto $1.5401 Leander $1.4998 Pflugerville $1.4800 Taylor $1.4500 Jarrell $1.3900 GEORGETOWN $1.3580 Round Rock $1.3350 Liberty Hill $1.3350 Florence $1.3000 Thrall $1.2100 Granger $1.1050Coupland $1.0401
  17. 17. GEORGETOWN ISD INFO ON ATAX RATIFICATION ELECTION
  18. 18. Understanding School Finance School districts in Texas are allowed to tax up to $1.04 per $100 of property value for the district’s maintenance and operations. Tax dollars collected are supplemented with State and Federal funds. With voter approval, districts are allowed to to add an additional 13 cents to the tax rate.
  19. 19. IT’S ALL ABOUT THE PENNIES Gold Pennies ($1.04-$1.06) This amount brings in taxpayer dollars and generates additional State aid. Silver Pennies ($1.00-$1.04) The amount allowed by state law without voter approval. Bronze Pennies ($1.06-$1.17) The amount brings in taxpayer dollars, but a portion of the funds is given to the State.
  20. 20. FOR GEORGETOWN ISD - Four cents makes sense -Citizens approval of moving General Fund tax rate from $1.04 to $1.08will generate revenue gain of $2.18 million.
  21. 21. Georgetown ISDANALYSIS IN PENNY INCREMENTS TAX RATE TAX RATE TAX RATE TAX RATE OF OF OF OF $1.05 $1.06 $1.07 $1.08 LOCAL TAXPAYER $536,081 $1,071,368 $1,605,872 $2,139,605 AMOUNT REVENUE INCREASE WITH $711,527 $1,420,998 $1,785,811 $2,180,174 STATE AID
  22. 22. Georgetown ISDANALYSIS IN PENNY INCREMENTS TAX RATE TAX RATE TAX RATE TAX RATE OF OF OF OF $1.08 $1.09 $1.13 $1.17 LOCAL TAXPAYER $2,139,605 $2,672,577 $4,797,108 $6,910,281 AMOUNT REVENUE WITH $2,180,174 $2,558,398 $4,061,644 $5,549,783 STATE AID +/- GISD GETS +$40,569 -$114,179 -$735,464 -$1,360,498 TO KEEP
  23. 23. Georgetown ISD TRE TAX LEVY IMPACT Type of Taxes at Taxes at TRE Annual Monthly Property Current Rate Approved Rate Difference Average $100,000 Home $1,358 $1,398 $40 $3.33 $194,000Average Home $2,640 $2,718 $78 $6.50 $500,000 Business $6,790 $6,990 $200 $16.67 $1,000,000 Business $13,580 $13,980 $400 $33.34 NOTE Over 65 and disabled individuals whose taxes are frozen WILL NOT experience any tax increase if the TRE is passed.
  24. 24. HOW WOULD TRE FUNDS BE USED? Maintain the level and quality of current student programs.
  25. 25. GEORGETOWN TRE SUMMARY Voters will be asked to approve an additional $0.04 per $100 tax rate. Proposed tax rate will generate an additional $2,180,174 in state and local revenues. Early voting begins 9/24. Election date is 10/9/12.

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