FARMINGTON – The Farmington School District held a work session Tuesday evening to discuss upcoming possibilities for the budget and talk about what they could do different if they go for another bond issue.
During closed session, the appeal of 2011 taxes from a Ste. Genevieve taxpayer was discussed. Ste. Genevieve County asessor Linda Wagner had notified the school district in a letter that Crown Valley Brewing and Distilling and Crown Valley Winery are appealing two of their 2011 assessments. The district stands to lose $54,282 for 2011 (an estimated $108,564 for both 2011 and 2012).
During the work session, they started off with Don Eaton, director of Business Services and the state revenue projections for 2012-13.
Eaton said he hesitates to adjust the budget but it looks better than it was first thought. To be conservative, he budgets 91 percent for 2011-12 school year and the state of Missouri is budgeting for 93 percent.
Dr. Thomas said they have about $700,000 the district could work with right now and they have $8.6 million worth of repairs and other things the district needs to do.
Larry Hart from L J Hart & Company said there are a couple other options the district has since the bond issue didn’t pass.
There is a capital facilities lease, which means legally borrowing money for the long term. That type of lease is paid back in five, seven or 10 years.
He also left them information on General Obligation Bonds and General Obligation Refunding Bonds.
The next Farmington Board of Education Meeting will be 5 p.m. May 15.
Maridee Lawson is a reporter for the Daily Journal and can be reached at 756-8927 or firstname.lastname@example.org.