BURTON SCHOOL BOARD ADOPTS 2020-21 BUDGET, TAX RATE

Josh Blaschke August 28, 2020

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The Burton School Board approved adoption of the budget and tax rate for the new school year at its virtual meeting Thursday.

Members of the Burton School Board hold an in-person meeting in March. Thursday's meeting was held virtually.

Following a public hearing with no comments, the board moved to adopt the budget for the 2020-21 school year. Estimated revenue and appropriations for the new year balance at $7.8 million, compared to last year’s budget of $6.8 million.

Trustees also adopted a tax rate of $1.0413 per $100 valuation, slightly less than last year’s rate of $1.0449 cents per $100. The new rate consists of 96.64 cents for maintenance and operations (M&O) and 7.49 cents for debt service (I&S).

Also at Thursday’s meeting, trustees approved an order authorizing issuance of $910,000 in the district’s series 2020 unlimited tax refunding bonds, levying a continuing direct annual ad valorem tax for payment of the bonds, and delegating authority to certain trustees and district staff to execute documents relating to the sale of the bonds. Superintendent Dr. Edna Kennedy said refinancing saves $209,506 over the life of the bonds, which will be paid in 2034.

The board also approved a resolution approving an engagement agreement for bond counsel legal services with Locke Lord LLP, as well as an engagement agreement for financial advisor services with Live Oak Public Finance, LLP.

Trustees also approved the Washington County Appraisal District’s 2020-21 budget, along with amendments to the 2019-20 budget. They also approved updates to the district’s Gifted and Talented Education (GATE) program plan, before meeting in executive session to discuss district safety and security.

Click here to view the public notice for the meeting.

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