March 14, 2022 at 5:30 PM - Regular Meeting
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Call to Order and Invocation
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Recognitions
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1. Students of the Month
Description:
The Students of the Month for March are:
Keymorah Brooks - Elementary Denisse Zavala - Intermediate Cuong Kim Trink - Jr. High Audrey Wootten - High School |
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2. Employees of the Month
Description:
The Employees of the Month are from the Jr. High School; they are:
Elida Lopez and Jacqueline Welsh |
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Public Comments/Audience Participation
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Superintendent Reports
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1. Tax Collections, Accounts Payable and Financial Reports
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2. Facilities Report
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Business
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1. Minutes from the January 10, 2022 and February 14, 2022 Regular Meeting of the Board
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2. Consideration and Action to Adopt Board Policy CCGB (LOCAL) Concerning Economic Development Applications and Agreements for Appraised Value on Qualified Property Under the Texas Economic Development Act, Chapter 313 of the Texas Tax Code
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3. Consideration and Action to Hire the Underwood Law Firm as Special Legal Counsel to Provide Professional Services to the District Concerning Applications and Agreements for Limitation on Appraised Value of Property Under the Texas Economic Development Act, Texas Tax Code, Chapter 313
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4. Consideration and Possible Action to Retain School Finance Consultants Culwell Consulting to Assist the District in Processing and Evaluating the Financial Impact of an Application for Appraised Value Limitation on Qualified Property
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5. Consideration and Possible Action to Accept for Consideration an Application for an Appraised Value Limitation on Qualified Property Under the Texas Economic Development Act, Texas Tax Code, Chapter 313, Assess an Application Fee, and Authorize the Superintendent to Review the Application for Completeness and Submit such Application to the Comptroller
Description:
Overview of Document:
In preparing our impact analysis, we look at the proposed investment and taxable values listed behind Tab 14 of the application. Within Tab 14, Schedule A outlines the investment schedule and Schedule B provides the assumed taxable value of the project.
Starting with tax year 2025, the ten year value limitation period is represented by the highlighted area on the spreadsheet. During these years, the project will have an M&O taxable of $20 million (Column 5). Any taxable value of the project either before or after this period would be fully taxable for M&O tax purposes. A Ch. 313 Agreement does not impact the I&S valuation of the project, and the district's I&S rate would have access to the full taxable value of the project (Column 4).
The school district revenue protection payment is estimated to be $3,425,220 (Column 10). This figure is the calculated total of M&O revenue from local tax collections and state aid we estimate the district will forego by granting the limitation. The Ch. 313 agreement ensures the company holds the district harmless from any loss and is required to compensate the district for this amount once calculated during the value limitation period. This payment is not subject to recapture and the State does not reduce funding based on the receipt of these payments.
Additionally, we have provided an estimate of the supplemental payment or payment in-lieu of taxes (Column 12) based on the upper limit allowed under statute. The tax code provides for the school district to negotiate up to $100 per average daily attendance. For display purposes here, I have shown what these payments could look like using the 2020-2021 TEA Summary of Finances- Near Final ADA of 2,105 rounded to the nearest whole number. The terms establishing the amount and timing of these payments will be negotiated and set in the future Ch. 313 Agreement.
Payment of both revenue protection and supplemental payment are due to the school district by January 31st of each school year listed (Ex: the $3,425,220 estimated revenue protection payment would be due by January 31, 2026).
After accounting for all payments, the company is estimated to save $11,384,116 (Column 13).
Finally, the estimated totals of the M&O tax payments, revenue protection, and supplemental payments are broken out at the bottom of the page.
This document serves as a rough guide to the revenue loss, supplemental payment and overall impact of a potential Ch. 313 agreement. Once the application is filed with the Comptroller, a more in-depth analysis will be provided.
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6. TASB Risk Management Fund Interlocal Agreement
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7. Personnel
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7.a. Recommendations of Employees
Description:
Contracted Employees
Anahi Salazar - Intermediate Teacher At-Will Employees Whitney Langley - Elementary Special Ed. Aide Irma Silva - Custodian |
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7.a.1) Contract Renewals
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7.b. Resignations of Employees
Description:
Contracted Employees
Angela Baker - Intermediate Teacher Karli Kessler - Jr. High Science Teacher Alexandria Wojenski - Intermediate Teacher Stephanie Neal - Jr. High Social Studies Teacher Salena Dorsey - Intermediate Teacher At-Will Employees Esmerelda Gomez - Jr. High Student Service Clerk Matrissia Regnold - Intermediate Special Ed. Aide Maria Rodriguez - Custodian |
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Future Agenda Items
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Adjourn
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