001meeting to um order um for July 30th. Um just a couple points of information. Um Dr. Jurgen couldn't be here tonight, so I'm going to sit in. Hopefully we can muddle through it and uh Jeff's on the phone with us. So with that said, we'll turn over to Miss Cody. >> Okay. So, if it's okay with everybody, I'm just going to start with begin with an overview and then I'll just answer any questions that you all might have. >> So, okay. So, um let's start with an update on the current digest in the 5-year history. Um, as you all may recall, the budget was approved based on an estimated $111,534,900 in tax revenue. That estimate assumed an 8% increase in the tax digest. So now that the final numbers are in, you can see that
002the um we actually saw an increase of 8.67% which slightly exceeded the um projection. And so then moving on to the second page, um you'll find the roll back rate calculation. So the roll back rate is the millage rate that would generate the same amount of property tax revenue as the prior year assuming no reassessments occurred. So for this year, the roll back rate is 13.88 mills. If we maintain the current milit rate rather than adopt the roll back rate, the increase would be calculated at 7.35% which requires um us to advertise an increase tax increase under state law. And so then so um by keeping the millage rate unchanged we would receive approximately $688,200 more dollars than initially budgeted. Um I did want to note that that increase reflects a growth in the tax
003digest, not a uh rate hike. And then a few more things I just kind of wanted to point out. Um the current millage rate is the lowest it's been in 25 years. Over the past three years, we've reduced uh the millage rate just over 1.25 mills. Um with all that being said, my recommendation is to keep the millage rate at the current level of 14.90, mainly just because we still have so much uncertainty surrounding our federal funding. And I do have I I didn't um I didn't um post it up here, but I do have the um different uh what how it would affect tax revenue if we had decreases if y'all want me to share what that would look like or >> I mean if you have it, we can look at it. So,
004if we decrease the millage rate a quarter of a mill, that would reduce our tax revenue a little over a million dollars. Um, a half a mill decrease would decrease our tax revenue a little over 2.7 million. A.75 decrease would decrease our tax revenue about 4.5 million. And then if we went back to the roll back, it would decrease our tax revenue close to 6.4 million. So, and I don't think there's any way to really project this, especially with any accuracy, but as far as the federal funding goes, um, still uncertainty in that area, keeping the millage rate the same, do you feel like that's needed to absorb any of that? Well, and it and and we have we have been given guidance that they are they we know for sure they're going to release
005our title 4B funds and we have been told that they are going to release some of our you our other title funds but we just don't have any guarantees on that yet. They haven't had the board meetings and we don't know what it's going to look like next year. Um, so you know, our fund balance is not it's conservative and so I I just feel like, you know, it just would concern me to decrease the military again this year. >> Do we have any idea when we might know more about the federal funding? Like, is it a few weeks away or months away? >> Well, I mean, I I'm fairly certain we will get our federal funding this year. We just have no idea what next year is going to look like. Originally, we were
006told this year that we would not receive title 4B and then that all of our other title grants except for title one and our um special education was going to kind of be combined into a block grant. And we were kind of given the impression that it was going to be like about a 70% decrease over what we've received in prior years. >> So, we really just don't know what next year is going to look like at all. >> Right. And right now we're kind of staffed and ready for the year that this is going to affect. So, >> right. >> Okay. Thank you. >> The timeline that you have listed, when does it have to be approved by? Is it the end of August? >> Yes. I think it I think it all has
007to be turned into the state by September 2nd. >> Okay. Um, and we kind of tried to up it a little bit this year because the county can't really set their rate until we set ours. So, we back everybody up. >> And the kind of the trigger that starts it all is the tenative rate adoption. Let me ask you this, and I should know this because we ask it every year, I think, but if we adopt the tenative rate and get down to August and want to adopt a lower rate, does that start this whole thing over or can we do that without any redoss on the timelines and advertising and everything else? >> So, my understanding is that as long as we're not adopting a higher rate, we don't have to start the whole
008process. >> That makes sense, everybody. If we get right down to it, we actually want to lower it some, we can. Um, but a lot of times we've kind of monkeyed with the timeline. We had to start the whole timeline over and we don't have enough time to really start over generally. So, um, I just want to clarify if we did get any feedback or we changed our minds and wanted to lower, but we have lowered it the last three years. Um, >> so I think it's probably prudent to keep it the same, but that's just my >> my feeling on it. >> Well, and to that point, you know, it it really didn't come in that higher than what we budgeted, right? you know, it it was very close to to what the tax
009assessor estimated. So, >> and just for y'all's benefit as a new board members, y'all y'all understand why we have to have the public hearings because even though we're not raising the millage rate, and this comes up every year that we're raising taxes even though we didn't raise the millage rate, but we are realizing more tax revenue. So, that's why we have to advertise and have the hearing. So, >> property tax values went up. >> That's right. >> Yeah. Um, are we did we collect at 97% this year? >> Um, that I I haven't looked at that exactly. That's the recommendation of the tax commissioner is for us to use the 97% figure. Um, I haven't gotten through everything for fiscal year 25 yet, but I can I can look at that and let you know.
010>> What did we do last year? >> Um, I think last year was around 97%. In the past few years, it's historically been in the high 90s. >> So that hadn't been out of line, >> right? And that was I checked with him before I did the budget this year and that was his recommendation. So went with that. >> And we do need a vote tonight to adopt the tenative, correct? To get it moving. >> Yes. Okay. >> Yeah. That will keep us on the timeline. And again, >> the timeline can stay set as provided that that a recommendation I made to exceed the tenative adopt touch rate. >> Mike, I'm in agreement with you that um to go with the recommendation tonight and if we have different information in three weeks, then maybe we
011can have another discussion about it. >> Okay. >> But not not raising it. >> So reading it the same. Yes, ma'am. 14.9. >> I'm for that. >> Anybody want to make that Anybody want to make that form of a motion? >> Um, trying to make it known. >> Okay, >> Mr. Modal. >> I'm sorry about that. I didn't mean to be smart that way, but I make a motion that we uh go with her recommendations. Miss Cody's second. >> Okay. Motion by Mr. Mal and second by Mr. Jackson to adopt the tenative mill rate at 14.9. Any more discussion? All those in favor, >> Mr. Dodger. >> All right. Is it 6? >> All right. Good deal. >> Um, next we have personnel. Miss Seals. I guess we'll go do everything in the back. Um,
012so we need a motion to go to executive session for personnel. I think some legal any land. >> I do just have one update on land that I'll let you know about. >> I'll let him make a motion. that we uh recess to executive session to discuss personnel and real estate >> and legal. >> Okay, perfect. >> Motion Jackson, >> I second it. >> Second by Miss Lee. All those in favor. >> I unanimous 6 at 609. All right, we'll be back. Motion by Miss Sams to return to open session. Second by Mr. Madala. Any discussion? All those in favor? Mr. Jackson, you in favor? Go back in. 5 Z. I hear a motion to approve the personnel report. >> So moved. Motion by Miss Sams. >> I'm second. >> Second by Miss Lee. Any
013discussion? All those in favor? 5. I move we adjourn. >> I second. >> Okay. Motion by me, second by Miss Sams to adjurnn. All those in favor? 5. Thank you'all for being here. See you next short not. Thank you'all very much. Good luck.