Tax Caps Mean $300K Shortfall
July 28, 2016 at 4:25 p.m.
By -
Chief Financial Officer Kevin Scott told the school board Monday night that he received notice from the county auditor's office Friday of how the state property tax caps will affect Warsaw Schools.
Under the property tax cap, homeowners' bills are capped at 1 percent of a home's assessed value, with 2 percent limits for rental property and 3 percent for businesses. On the November election ballot, voters will get to vote on whether or not to make the property tax caps permanent.
The property tax impact will mean a projected shortfall of $307,469.16 for Warsaw Schools in 2010. That includes a $131,373.84 shortfall to debt service; $115,029.13 to capital projects fund; $12,213 to the bus replacement plan; $40,481.26 to transportation; and $8,371.69 to the pension debt.
Scott also asked the board to authorize the annual solicitation of interest to quote on WCS small-scale construction and renovation projects.
According to Scott, "Warsaw Community Schools annually completes repair and maintenance projects across the district. These projects involve various trades that include general construction, plumbing, electrical, heating and air conditioning and concrete.
"To ensure that all parties interested in doing work for WCS are given that opportunity as well as to identify contractors who are responsible and responsive, we have developed a form to pre-qualify interested parties. The intent is to have a ready list of approved contractors to approach for quotes on small-scale construction and renovation projects."
The annual solicitation of interest to quote will be an advertisement in the Times-Union, Scott said.
The form asks for the contractor's contact information and what type of work they are interested in performing. The form wants to know what public works projects the organization has completed during the past five years and what projects they now are in the process of constructing.
The form wants to know if the contractor has ever failed to complete any work awarded to them, failed to meet a project completion date and why. References are requested.
The second section asks if the contractor will sublet any of their work, who the subcontractors are, what equipment they have available and requests proof of insurance.
The last section asks for financial information. The form wants to know if the contractor has the necessary capital to begin work, if there negative information on their credit report, if the firm ever filed for bankruptcy and if the firm currently has or is able to obtain a minimum of $1 million in general liability insurance.[[In-content Ad]]
Chief Financial Officer Kevin Scott told the school board Monday night that he received notice from the county auditor's office Friday of how the state property tax caps will affect Warsaw Schools.
Under the property tax cap, homeowners' bills are capped at 1 percent of a home's assessed value, with 2 percent limits for rental property and 3 percent for businesses. On the November election ballot, voters will get to vote on whether or not to make the property tax caps permanent.
The property tax impact will mean a projected shortfall of $307,469.16 for Warsaw Schools in 2010. That includes a $131,373.84 shortfall to debt service; $115,029.13 to capital projects fund; $12,213 to the bus replacement plan; $40,481.26 to transportation; and $8,371.69 to the pension debt.
Scott also asked the board to authorize the annual solicitation of interest to quote on WCS small-scale construction and renovation projects.
According to Scott, "Warsaw Community Schools annually completes repair and maintenance projects across the district. These projects involve various trades that include general construction, plumbing, electrical, heating and air conditioning and concrete.
"To ensure that all parties interested in doing work for WCS are given that opportunity as well as to identify contractors who are responsible and responsive, we have developed a form to pre-qualify interested parties. The intent is to have a ready list of approved contractors to approach for quotes on small-scale construction and renovation projects."
The annual solicitation of interest to quote will be an advertisement in the Times-Union, Scott said.
The form asks for the contractor's contact information and what type of work they are interested in performing. The form wants to know what public works projects the organization has completed during the past five years and what projects they now are in the process of constructing.
The form wants to know if the contractor has ever failed to complete any work awarded to them, failed to meet a project completion date and why. References are requested.
The second section asks if the contractor will sublet any of their work, who the subcontractors are, what equipment they have available and requests proof of insurance.
The last section asks for financial information. The form wants to know if the contractor has the necessary capital to begin work, if there negative information on their credit report, if the firm ever filed for bankruptcy and if the firm currently has or is able to obtain a minimum of $1 million in general liability insurance.[[In-content Ad]]
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