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Board Resolution for Madison County Facilities Sales Tax

posted Feb 28, 2017, 3:08 PM by TCUSD Webmaster

During the February Board of Education meeting, the members of the board discussed their commitment to using the additional revenue that would be received from the Madison County 1% Facilities Sales Tax and unanimously passed a public resolution. Below are the highlights of the resolution.

The Triad Board of Education intends to use the potential revenue if the ballot initiative is successful in the following manner:

  • Utilize 50% of the sales tax revenue for abatement of capital improvement debt to provide property tax relief.

The remainder of the sales tax revenue will be split between saving for future needs and improving school facilities as follows;

  • Used for necessary and prudent facility related expenses, such as the following:

    • Yearly budgeted expenses such as parking lots, sidewalks, roofs, and other costly major repairs

    • Safety features such as updated video camera systems and  improved disabled access in schools

    • District Technology Infrastructure

    • Preventative maintenance items

    • Energy efficiency measures

  • Saved for future facility projects, which would otherwise be paid for with property taxes, thus avoiding additional debt and interest costs.  These types of projects would include:

    • Expanding and renovating buildings and spaces as needed such as cafeterias, locker rooms, playgrounds, science labs, athletics facilities, etc.

    • Building expansions due to enrollment increases

Recognizing that during the initial year the potential revenue will be limited due to the tax only being in effect as of July 1, the board intends to use 100% of the potential revenue that has been received at the time of Board approval of the 2017 Levy for abatement of capital improvement debt to provide property tax relief.

Attached below is the official Triad Board Resolution for the CSFT potential revenue resolution.

TCUSD Webmaster,
Feb 28, 2017, 3:08 PM