LAMPASAS — The Lampasas Independent School District board of trustees made quick work of adopting a proposed tax rate for the 2013-2014 school year during a special meeting Monday.
The board approved a tax rate of $1.45 per $100 valuation, with $1.17 going to maintenance and operations and the remaining 28 cents allotted to debt service.
According to LISD’s Chief Financial Officer Shane Jones, a number of wise investments put the district in great shape.
“We are proposing a total rate of $1.45, which is a penny less than last year,” Jones told trustees. “Due to refinancing, and taking advantage of lower interest rates, is what allows us to do that.”
The district held several workshops during the summer to discuss budget issues as well as identify future capital and building maintenance expenses. Some of the major factors impacting the district’s revenue include the purchase of a new school bus, a new vehicle for district use, roof repairs, sidewalks, flooring and paving projects.
After the board’s approval, Jones said the official wording of the adopted tax rate will reflect an increase in order to comply with regulations established by the state comptroller’s office.
“We’re bringing in more money locally, but the state money comes down, therefore, the comptroller requests the wording reflect an increase,” Jones said.
The board also received notice from the Lampasas Central Appraisal District amending the 2012 appraisal district budget.
In the letter, Chief Appraiser Melissa Gonzales stated the district’s audit report indicated an excess of funds in the amount of $47,160, which is to be refunded to all taxing entities served by the appraisal district.
The trustees also approved a request from the appraisal district to contribute $4,000 toward a reserve fund account for future replacement of an LCAD vehicle.