Current operating levy runs out this year
At Tuesday night's Miami Trace School Board meeting Treasurer Debbie Black gave her five year financial forecast for the district. Black said the district will be okay for this year and next year but after that the $2.4 million dollar emergency operating money stops coming in and the district starts going into the red fast. Miami Trace is looking at an eight million dollars deficit by 2016.
Black said uncertainties in state and local funding are part of the problem.Trace is looking at a possible ten percent reduction in property valuations in 2012 when the state conducts it's Current Agricultural Use Value, compounded with the loss of the operating levy and the elimination of the tangible personal property tax.
Black presented to the board several options concerning replacing the $2.4 million dollar five year emergency operating levy which expires at the end of this year. The levy was approved by the voters in 2007. She said the board has a lot to think about and very little time to make a decision, but the treasurer for the district says a levy is absolutly necessary for the district to continue operating.
Board members will have until December 7th to decide if they want to ask the voters for more money in the March 2012 primary.