Board Adopts Tax Budget for Fiscal Year 2021
Office of the Treasurer
Following a public hearing earlier in the evening, the Board of Education of the Logan-Hocking Local School District adopted a tax budget for Fiscal Year 2021 (7/1/20 Ė 6/30/21) at its Organizational Meeting held on Monday, January 6, 2020. Treasurer Paul Shaw prepared the tax budget and recommended its approval to the Board.
Treasurer Shaw reminded the Board that the Tax Budget is an important step in a school districtís fiscal planning. It is the financial plan for a districtís operation for the next fiscal year. Not only is it a legal mandate that a budget be approved, but it is also the basis for the levying of taxes. A district must show evidence of financial need in order to collect all millage voted for school purposes.
The Fiscal Year 2021 Tax Budget, based on November 2019 projections and the current five-year financial forecast, reflects a General Fund budget of $41.4 million. According to Treasurer Shaw, the tax budget clearly demonstrates to the Hocking County Budget Commission the need to levy taxes as previously approved by local taxpayers for school purposes.
Treasurer Shaw noted that the total tax rate levied by the School District (32.50 mills) is .7 mills lower than last year (33.2 mills) and is a full 6.5 mills less than that in FY 2002 (39.0 mills) when the last bond issue was passed.
For further information, contact Treasurer Paul Shaw at 740.385.8510 or at email@example.com.
PFS: Tax Budget FY 2021 Press Release 01.6.21
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