001It is now 7:00 p.m. and we do have a quorum present. Call this meeting to order. First item on our agenda tonight is a public hearing to discuss the budget and proposed tax rate for the 2025 2026 school year. No one signed up. No one signed up to speak. Being a public hearing, are there any other comments, questions, complaints, items of observation? Well, if y'all would bow with me and we'll open the remainder of our meeting with prayer. Father God, we thank you for today and we thank you for all that you richly blessed us with. Dear God, we pray that you uh help us as we go through this meeting tonight to remember to keep our kiddos first. Dear God, we pray that you uh help us do what's best for the school. And
002dear God, we pray that you help us to keep our our own feelings to the side, but concentrate on what the school and the kids need the most. Father God, we know that we make mistakes and we ask for the forgiveness of our sins and pray these things through the sweet name of Jesus. Amen. Is there anyone who signs to the public for close the public hearing first? >> Okay. >> So, just motion second and vote. >> So, we have a motion and a second to close the public hearing. Any further discussion? All in favor? All right. I consider and take possible action on a resolution approving an amendment to the depository contract with First Bank and Trust to renew the term for two more years and amend the type of collateral as authorized by
003the Texas Education Code. We finally got the new depository agreement back. And this is this is the new rates based on the federal funds rate versus the treasury bill. It's still a we >> variable rate but after this is our first renewal for this. So it'll It'll take effect two years if the board wants to look at a new depository. >> Do we have any other options? >> This has to be September 1st. We can this these rates got miscom or not miscommunicated to us. It just didn't get communicated to us until >> I think part of it is that bigger bank bought out the HGFL and I don't think our lady was aware that this was going to have to change. It's a something with a bigger bank. Long and short of it is
004they're dropping our interest rate half a percent. We have a motion and a second on the table to extend the contract depository contract to First Bank and Trust for two more years. Is there any further discussion? All in favor? All opposed. All right. Next item on the agenda is to consider and take possible action on the approval of the budget amendments and fund transfers for the 2425 school year. >> This colored sheet that Marc that final yellow column is the proposed amendments for this this final round hopefully. It also includes an expected almost $200,000 recapture payment that we anticipated Is that because of the amount that we were able to collect from taxes from the extra 385,000? >> It was originally expected to be 1.2 million. So function 91 and because of all the >>
005they don't have all the calculations. TEA is still doing theirs but we've done ours and >> our template shows that it should be 1.4. >> Okay. >> And they only charged us 1.2. So I would hate to not do that budget amendment and then it's half day. Yeah. >> Right. But at 5,700 from local sources, that was extra tax revenue of 385,000. >> Yes. >> So >> we picked up some that last year at this time she was collecting at 93%. It was under. And so we did our budget on 95%. Well, then she ended up collecting and ended up collecting 98.6% for last year. Some of it's she was trying to explain some of it comes as delinquent taxes and so um that we just collected more than we were expecting >> which for
006us is not a good thing. It makes our recapture go up, >> right? Any questions about the budget amendments? comments about the budget. We have a motion in a second to app budget amendments as described by funding and function according to this sheet. Any further discussion? All in favor? Item C, consider and take possible action on a proposed budget for the 25 26 school year. It's kind of weird. pass the budget before we get past the tax rate, but the way it's been done. So, we we trimmed a little bit out of budget, particularly some student travel, some maintenance and operations, some legal expenses. We went over it line by line and there's just not a whole lot of it's not a whole lot of fluff in it. even with cutting $60,000 and we go
007from a $660,000 deficit to, you know, 6 $15,000 deficit. So, it's it's pretty thin. You know, we're going to still look at cost saving and not stay and stay within our means, but even so, it's a it's a pretty Terrible deficit. This is about 60,000 more of a deficit than what we had for 242. Yes. Questions, comments for Mr. four motion. I'll second it. >> Have a motion and a second to approve the budget. Any further discussion? All in favor? Next item on the agenda is to consider and take possible action on the adoption of a resolution of the board to set the tax rate determining the amount of adore and taxes necessary to support maintenance and operation as well as interest in sinking of Hermley for the coming school year 2526. U that I
008think those are the same rates as discussed the 6669 for M that's the 61 cents maximum crush rate plus the 5 cents voter approved rate the IS was dropped to zero. We we spent a lot of time on the phone with a lot of different people. Um and even at zero we're going to still have the surplus in the after we pay off the the bond. So we we were advised not to set an image rate for fear of overction also the 66 66.69 cents for M that is something that we just arbitrarily and random randomly pull out of thin air. There is a multi-page spreadsheet that goes to figure what this tax rate should be that is sent by the state. So we have to do it according to the state. So basically the
009state is telling us the amount of money that we're entitled to as far as what they call their entitlement. So, while it looks like we could collect a whole lot more on taxes if we would drop the taxes, where we're at on entitlement says we've got to have a tax rate of this to make enough money to pay for everything for the school. But what they're saying is is we know you're going to tax more money and we need that money to operate other school districts. So, we're going to recapture it from you. And so, they basically decide where our tax rate is set at. There's really not much that we as a board could do at this point. We already have the extra 5 cents. We could go to the voters for about a
010three cent, I think. >> Yeah. >> But a three cent's only going to yield somewhere close to $300,000. I think >> the other the other flip side of this is pass the tax rates that we have and go back to the feasibility of the bond. Take a look see if it's feasible to have a bond to offset the other expenses that we have. >> Yeah, I think we take very consideration stuff that the school needs done. We just keep kicking the can down the road. It's going to get worse and worse and worse. More and So with a motion We would be approving the adoption of the resolution of the board for an adorum tax at a rate of 66.69 for maintenance and operations and zero for interest in sinking for the fiscal year fiscal
011year commencing September 1 and ending August the 31st to 26. I'll make the motion to approve. >> I'll second it. >> Is there any further discussion? >> All in favor? We have a motion in a second to adjourn. All in favor? Time is 7:18