Thursday, April 7, 2016

2017-2020 DCCCD Funding Projections

At the April 5 work session, DCCCD Chief Financial Officer John Robertson presented the DCCCD Board of Trustees with a funding projection outlook for the next three years, that all DCCFA members are encouraged to review.

It is important to note that these are forecasts based on the limited information currently available.

Specifically, two major factors could affect local business and residential property tax revenues. The first is the May 7 election of three new DCCCD board members, which will dramatically change the composition of the Board of Trustees. Even if no candidates win more than 50% of the vote on May 7, a runoff election on June 18 between the first and second place finisher would result in new board members being sworn into office in late June.

The second factor is the amount of funding the District will earn from local residential and business property taxes. Sometime this summer, the Dallas Central Appraisal District will inform all taxing entities in Dallas County - including the DCCCD - of the "Taxable Assessed Value" (TAV) of all real property in Dallas County. Then, in August, the Board of Trustees will conduct a series of public hearings on the proposed tax rate.

Based on the composition of the board, and the hearings, the Board could vote to increase, maintain, or decrease the tax rate. Coupled with the new TAV, a new tax rate could increase, maintain, or decrease the overall DCCCD budget for Fiscal Year 2016-2017.

Consequently, all employees should prepare ourselves not to know anything concrete about compensation adjustments until August, as it is likely that the 2016-2017 DCCCD budget – and compensation adjustments, if any – will not be known until shortly before the September board meeting.

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