Board Agenda - June 06, 2006

IX. Authorize Advertisement to Schedule Budget and Tax Rate Hearing

Presenter: Richard Matkin

Purpose: A - Request decision - closure required

Time: No time limit

Description:

The Board of Trustees is required by law to schedule a Budget and Tax Rate Hearing. When scheduling the meeting the Board of Trustees votes on a proposed tax rate that will be published in the notice for the public meeting.

Attached for your review is a Budget and Tax Rate Calendar. The District has not received the new legislative notices at this time; however, TEA calculation templates have been received and the District is moving forward using this as a basis for advertising a tax rate and setting a budget. The budget will be submitted for your approval on June 27, 2006. The tax rate is scheduled to be adopted at the September 5, 2006 meeting.

Also attached for your review, is the General Operating Budget reflecting the latest legislative action and other District funds to be adopted on June 27.

Recommendation:

The administration recommends that the Board of Trustees authorize the administration to advertise a Budget and Tax Rate Hearing at 7:00 p.m., June 27, 2006, at the Plano ISD Administration Building board room. The Board also authorizes the advertising of a tax rate consisting of:
Maintenance and Operations Rate - $1.33;
Interest and Sinking Rate - $0.2484;
Total Proposed Tax Rate - $1.5784.

Business Impact:

Summary:

Appendix:

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