Without a $500,000 tax advance the district received from the county auditor's office, Athens City Schools would be running a deficit, the board treasurer said at last night's meeting.
A three-month delay in the collection of property taxes caused the lack of funds, Treasurer Matt Bunting said. Property taxes are collected in August and February of each year, but the county auditor's office changed their computer system last August. The new system caused delays in collection last August and again this February.
It was just an internal problem
Bunting said.
The district received the advance last week, once collections began. Although there was $900,000 in the general fund in March, Bunting said, the fund would be below zero without the advance from the auditor's office.
The tax advance is half of the income the district will receive from property taxes. Despite the delay, Bunting said, the district budget is less than half a percent off projections.
It was just a typical thing to do Bunting said. He added that school districts often ask for tax advances even when collection is running on schedule.
The board also approved the refinancing of a bond for less than $9 million. The bond, passed in 1999, paid to renovate Athens middle and high schools. The decline in interest rates since the bond was passed could save $800,000 by refinancing it.
We can save the taxpayers money that's what it's all about
Superintendent Carl Martin said.
Refinancing the bond means that the district could pay it off earlier and reduce millage for voters. The last bond the district refinanced was repaid in 15 years rather than the predicted 23 years.
This savings is not as significant
said board member Scott Nisley.
Renovation of the playground at The Plains Elementary was also approved by the board. Three companies bid on the project, which was estimated to cost $55,000. Abdella Excavating Company placed the lowest bid of $52,521. The playground, a low-lying area next to the school, often floods, which leaves it unusable to students.
When it was graded
the play field is actually a bowl. It's pretty much a swamp
Martin said. The renovation will re-grade the play field and make it usable for students.
The board also renewed 10 one-year, 26 two-year and nine three-year teaching contracts as well as supplemental and substitute teaching contracts. They also accepted three retirements and four teacher resignations.
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Casey Westlake
