A couple of school finance tools may be extended through 2015 based on newly-introduced federal legislation. Sen. John Rockefeller, D-W. Va., introduced S. 796 to extend the Qualified Zone Academy Bonds (QZABs) and Qualified School Construction Bonds (QSCBs). These bonds are similar to the Build America Bonds having federal subsidy rates equal to 100 percent … Read more
The Fiscal Year (FY) 2011 federal budget negotiations finally came to an end on April 15, 2011, when President Obama signed House Resolution (HR) 1473. The final Continuing Resolution for the FY 2011 budget included a total of $1 trillion in funding which represented an approximate $40 billion budget cut from the FY 2010 budget. … Read more
It is the time of year when city, township, and county assessors set current market values on property within their taxing district. Whether or not this task is part of auditor/clerk duties, a basic understanding of how this process affects the mill levy value, and consequently the budget, is very important. Determining Total Market Value A … Read more
Sustainability is the buzz word of the industry. Common topics include sustainable water supplies, sustainable construction methods, sustainable infrastructure, and sustainable financial management, to name a few. Sustainability is achieved when we are able to meet our needs today without compromising the opportunity for future generations to meet their needs. “Sustainability means providing an adequate and … Read more
Close to midnight on April 8, Congress reached an agreement that would extend government funding through April 15. This latest Continuing Resolution (CR) was passes predicated on the notion the actual full FY2011 budget would be passed within this window of time. The expected FY2011 budget will be voted on by Congress on Thursday, April … Read more
Review Revenue Requirements Define overall objectives Determine rate revenue requirements COSA Assignment of costs for a representative year to the user classes imposing the costs on the utility Functionalization Classification Allocation Determine the calculated cost per user class Compare the cost per user class to actual revenue per user class Rate Design Assess potential rate … Read more