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HOW ARE WE GOING TO PAY FOR THAT? Raising School District Funds: - PowerPoint PPT Presentation

Aug 13, 2023 •384 likes •554 views

HOW ARE WE GOING TO PAY FOR THAT? Raising School District Funds: Help for the Needy, Options for the Greedy, and Traps for the Unwary January 8, 2014 39 Offices in 19 Countries Todays Presenters Richard D. Manoloff Partner, Squire

  1. HOW ARE WE GOING TO PAY FOR THAT? Raising School District Funds: Help for the Needy, Options for the Greedy, and Traps for the Unwary January 8, 2014 39 Offices in 19 Countries

  2. Today’s Presenters Richard D. Manoloff Partner, Squire Sanders (216) 479-8331 richard.manoloff@squiresanders.com Michael L. Sharb Partner, Squire Sanders (216) 479-8389 mike.sharb@squiresanders.com 2

  3. Tax Levy Options - Operating Ad Valorem Property Tax � Millage Levies – Traditional – Phased in over time – New: “providing for school safety and security ” � Fixed Sum Levies – Emergency/Avoid an Operating Deficit – Phased in over time – “Substitute” – “Conversion” School District Income Tax (SDIT) � Two Different Possible Tax Bases 3

  4. Tax Levy Options – PI Property Tax � “General Permanent Improvements” � Specific Purpose – Can be converted to “general permanent improvements” School District Income Tax 4

  5. Tax Levy Options - Combinations • Operating + PI • Operating + Bond Issue • Operating + Bond Issue + PI • PI + Bond Issue • SDIT + Bond Issue • SDIT + Property Tax Levy (Fixed Sum) • OSFC Issues + Various Options 5

  6. Tax Levy Considerations & Cautions Duration � PI and current expense millage levies – any number of years up to 5 or for continuing period of time (if PI purpose is “general permanent improvements”) � Emergency levies – any number of years up to 10 � Incremental, substitute and conversion levies – any number of years up to 10 or for continuing period of time (for dollar incremental levy, renewals only) � SDIT – any number of years or for continuing period of time 6

  7. Tax Levy Considerations & Cautions Timing � Deadlines in advance of 90-day Board of Elections filing deadline – 120 th day – certain bond issues – 105 th day – conversion levies; combination bond issue + SDIT – 100 th day – SDIT; combination SDIT + property tax – 98 th day – certain bond issues (policy, not statute) – Emergency and substitute levies – KNOW YOUR COUNTY’S REQUIREMENTS 7

  8. Tax Levy Considerations & Cautions Timing (continued) � Renewal (elections in advance of levy expiration) – PI and current expense levies – general election prior to last year of collection + any election during last year of collection – Emergency levies – primary and general election prior to last year of collection + any election during last year of collection � Permissible Elections – Not more than three elections in any calendar year to include certain types of questions – For SDIT and combination SDIT + bond issue, not more than two elections in any calendar year and, if two, one must be general election 8

  9. Tax Levy Considerations & Cautions Voting � 2/3 vote on 2 nd resolution – PI; current expense; substitute; combination current expense + PI; incremental levies � 2/3 vote on 1 st resolution – Conversion � 2/3 vote on both resolutions – Combination bond issue + property tax levy; combination bond issue + SDIT; combination SDIT + property tax levy � Majority vote – most others � Separate and distinct roll-call vote on each resolution 9

  10. Tax Levy Considerations & Cautions Certifications � County Auditor/Fiscal Officer – Any levy involving property taxes � State Tax Commissioner – Any levy involving SDIT, and conversion levies � Advance Communications – SDIT – certification will convert $ to % (rounded to nearest ¼ of 1%) – Emergency levies – certification will convert $ to mills – Bond issues – some counties will round to hundredths, others will not; some will only round up 10

  11. Tax Levy Considerations & Cautions • Application of HB 920 & Millage Cap • “Rollback” Exemption • Levy Fatigue • Borrowing Authority Differences • Reduction Possibilities • Plans of Overlapping Taxing Authorities • Problematic Proceedings 11

  12. Tax Levy Calendar for Balance of 2014 � May 6, 2014 – 120 th day before this election was January 6, 2014 – 90 th day = February 5, 2014 � August 5, 2014 – 120 th day before this election is April 7, 2014 – 90 th day = May 7, 2014 � November 4, 2014 – 120 th day before this election is July 7, 2014 – 90 th day = August 6, 2014 12

  13. Tax Levy Campaigns • Use of Public Funds • Use of Public Facilities • First Amendment Issues • Ethics Issues 13

  14. Questions? 14

  15. Future Webinars in This Series The Immortal Words of Donald Trump Nonrenewals in the era of OTES. Are you ready? � Wednesday, February 5, 2014 Wuz Op? Ohio’s New Special Education Operating Standards: What you need to know today. � Wednesday, March 5, 2014 15

  16. Thank You! Contact us with any questions: • Rick Manoloff: richard.manoloff@squiresanders.com • Mike Sharb: mike.sharb@squiresanders.com 16

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