Proposed Change in School Funding Legislation
Proposed funding change in public education: Impact to Huron - Revenue loss due to Tangible Personal Property Tax (TPP) for 2017 may be reduced to approximately $125,000. While this is good news for 2017 and the short term, the complete phase out will continue until the dollars from the TPP reimbursement fund are gone. From what we are told, the bill may go before the House next Tuesday. Depending on changes (if any) a bill will then need the governor’s signature before becoming law. Local legislators state the bills intent is to give districts that rely on TPP a little more time to secure alternative funding sources.
While we are grateful for any relief, the continued phase out of TPP and the loss of over $1.1 million since 2005 has created a revenue problem for our district we cannot cut our way out of without negatively affecting educational programs.
Despite reducing expenditures by over $1.4 million over the past 3 years, and containing costs at 2011 levels, we continue to experience a deficit. This proposed continued revenue reduction will bring this revenue stream to an overall reduction in excess of $1.2 million.
The loss of revenue over the years and increase in operational expenditures create the need for additional dollars. While the potential of not immediately losing the amount described in current legislation is welcome, the continued phase out of TPP creates the need for additional revenue. Please contact treasurer Dawn Jacobs or Superintendent Dennis Muratori at419.433.1234 ext 5000 with questions.