Hurricane Relief Tax Increase Update
Victoria ISD has been approved for additional hurricane-related reimbursements, affecting the proposed hurricane relief tax rate increase.
Throughout the past several weeks, we have strived to be open, honest and transparent with our community during the budget planning process and how that is impacted by a delay in Hurricane Harvey reimbursements. In the last week, Victoria ISD received confirmation that a combined total of $1,135,000 in additional reimbursements have been approved by insurance, FEMA and the US Department of Education to the District. Although the monies are "not in hand," we do feel confident they will be received by the District shortly.
Initially, a proposal was made for the Board of Trustees to approve a one-year increase of $0.13 to the maintenance and operations (M&O) tax rate to offset the lag in reimbursements. True to our word to be fiscally responsible, and considering the new approvals, we will be recommending to the Board of Trustees a lower tax increase at $0.11, for one year only. This will be made at the August 23, 2018 Board meeting.
We recognize a tax increase of any amount is a burden to our community and we do not make the recommendation lightly as we continue to offer a premier education for "every child, every classroom, every day." We genuinely appreciate all community members who have participated in this dialogue, regardless of whether you have joined us in person at the forums, online through FaceBook Live, or through the exchange survey.
Roy T. Bennett wrote “Integrity is doing the right thing when nobody's watching and doing as you say you would do.” We have told our community we will be straightforward and candid throughout this process and we continue to thank you for being an active participant in this dialogue. Thank you for your understanding in this changing financial landscape.