By Elizabeth O’Farrell
A major piece of business prior to the Louisiana R-II School Board meeting on August 20 was setting the tax rate.
“It’s a huge formula,” said Dr. Todd Smith, superintendent of Louisiana schools. “The maximum allowed tax rate, as set by voters, is $3.75. We set it at $3.65.”
The debt service rate remained at .50, bringing the total tax rate to $4.15. The debt service is in connection to the bond issue passed a few years ago. Last year’s rate was $4.09.
This tax rate supports a targeted carryover of 30 percent, according to Smith. This means that 30 percent of one year’s operating budget is held in reserve. “Twenty to 25 percent is reasonable,” Smith said. So, 30 percent is good.”
Once the tax rate had been set, that portion of the meeting was adjourned, and the remainder of the meeting was held. Minutes of the July 23 meeting were approved.
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