Tax rate swap plan heard by board
The Quinlan ISD School Board heard what impact a tax rate swap and revenue comparison plan might have on the school district Monday night at its regular monthly meeting.
School funding consultant Doug Karr was introduced by Supt. Dr. Debra Crosby who said Karr had been asked to present the plan for the board’s consideration.
Board President Kenny Stone told The Quinlan-Tawakoni News he asked Crosby to arrange the discussion after hearing about its results at other school districts.
After Karr’s report, Stone said the board would study it further.
Under the plan that would require voter approval, Karr showed how the district could realize an additional $530,222 in state funding. The plan would change the amount of funding for the maintenance and operations expenses and for the debt service payments.
Under provisions of state school funding, the changes would result in an increase in the district’s total revenue from an estimated $20,642,483 to $21,172,705.
Karr stated the projections given were generated from the most recently revised numbers and could change as formulas were changed.
Stone pointed out that if the plan was adopted and later seen as not to the district’s advantage, it could revert to the present system.