Red Bluff Joint Union High School District

Transcription

1 Red Bluff Joint Union High School District CLICK Funding School TO EDIT Facilities MASTER TITLE in California STYLE Government Financial Strategies Presented by Lori Raineri August 19, 2015 Presentation 2015 Government materials provided Financial for Strategies distribution at the meeting. Please see Red meeting Bluff Joint record Union for verbal High commentary School District and discussion. - Page 1

2 Our Agenda for Today u Today s Options for Funding School Facilities Red Bluff Joint Union High School District - Page 2

3 Funding for School Facilities u Today s Sources of Facilities Funding: State of California New Development Local Community Red Bluff Joint Union High School District - Page 3

4 State School Building Program u Grant program that provides State matching funds for new construction and modernization projects. u The District has received $8.25 million in State matching funds since u The Program is virtually out of funds: Funding for the State School Building Program comes from State-wide voter approved bonds. Governor Brown indicates low or no support of future state bond. As a response, an initiative to place a $9 billion school facilities bond measure on the November 2016 ballot has been submitted to the California State Attorney General s Office. Red Bluff Joint Union High School District - Page 4

5 New Development u School districts may levy fees on new development in order to fund the school facilities necessary to accommodate the students from new development. The District is charging the maximum developer fees authorized by law. Red Bluff Joint Union High School District - Page 5

6 Community u Parent volunteers to help students directly In the classroom and with activities On site councils On committees including LCAP u Volunteer School Board members u Community fundraisers u Taxes State (1% general property tax, state income and sales tax) Local (community facilities district special taxes, parcel taxes, benefit assessments, and general obligation bonds) Tonight we ll focus on general obligation bonds because they are the most efficient local community funding option for facilities. Red Bluff Joint Union High School District - Page 6

7 A Bond is a Loan Bond Proceeds Bond Repayment Facilities Improvements Community Benefit u A bond is a loan. Just like a home mortgage, a bond allows the taxpayers to buy and receive the benefit of the facilities projects now, and pay for them over time. Red Bluff Joint Union High School District - Page 7

8 General Obligation Bonds u Authorized in CA Constitution (1879) In 1978, Proposition 13 superseded authority In 1986, restored at 2/3 voter approval level In 2000, 55% voter approval measures allowed with additional accountability requirements Maximum projected tax levy and specified citizens oversight u Full Faith and Credit Bond - Unlimited taxing authority u Ad Valorem taxation u Bonding capacity limited to 1.25% of AV for union districts (2.50% of AV for unified districts) u County is responsible for ongoing administration u No political discretion Red Bluff Joint Union High School District - Page 8

9 Takeaways From 2014 California School Revenue Measures November 2014* Total Pass % Passing School Bond 55% % School Bond 2/ % School Parcel Tax 2/ % California School Revenue Measures November Comparison Nov 2008 Nov 2010 Nov 2012 Total % Pass Total %Pass Total % Pass School Bond 55% 92 92% 63 75% % School Bond 2/3 3 67% % School Parcel Tax 2/ % 18 11% 25 64% * CaliforniaCityFinance.com Local Revenue Measure Results November 2014, November 2012, November 2010, and November 2008 Red Bluff Joint Union High School District - Page 9

10 Questions or Comments? Red Bluff Joint Union High School District - Page 10