Loyal School District Talks Referendum During a Special School Board Meeting, Part 2
Friday, July 11th, 2014 -- 8:17 AM
-The Loyal School Board held a special board meeting on Tuesday evening to hear the public opinion of Loyal residents regarding a proposed referendum for the district.Loyal, being one of the only districts in the county that has asked for and failed to pass a referendum, is looking for support to fix some building maintenance issues the district is facing and helping with general operating expenses.
Loyal has made significant changes and cuts to their budget which helped in the short term, but the district is already facing a budget deficit by the next year. For the 2014-2015 school year, Loyal is asking for $195,000 for building maintenance. For the schools years of 2015 through 2019, the district is asking for $395,000 for general operating expenses.
There are over a dozen, higher priced projects the facility needs to have done including $92,000 for football bleachers, $55,000 for fixing the playground blacktop, $30,000 for lights and curtains for the stage, $25,000 for blacktop for the east staff/visitor parking lot and more.
In term of mil rate, should the referendum pass, the greatest increase would be the first year. The Loyal District?s current mil rate sits at 9.01 and it would increase to 9.73 in 2014. That would equal out to a $4.50 increase per month for a $75,000 home. After that, the mil rate would steadily decrease each year and by 2018 Loyal would have a mil rate of 8.76.
Feel free to contact us with questions and/or comments.