postheadericon Dollars and Sense

A one page review of what the TAX and BUILD plan looks like to a businessman.

Dollars and sense

Here is what the TAX and BUILD plan looks like to a businessman

BOND payments to BUILD with no cost overruns, no traffic study, no wetlands issues
$1,907,604*/ $360,410 per mil = 5.29 Mils
                      5.29 Mils = a TAX INCREASE OF                        11.25 %
Old debt from the High School Construction
$1,805,000* / $360,410 per mil = 5.00 Mils
                      5.00 Mils = using TAX SURPLUS                         10.6 %
Current over taxation
$1,981,071*/ $360,410 per mil = 5.49 Mils                            11.68 %

TOTAL TAX and BUILD INCREASES taxes       TOTAL      33.52 %

______________________________________________
The JEriCHo plan = ASSET MANAGEMENT, FINANCIAL MANAGEMENT, REAL NUMBERS
There is plenty of areas to save. Interest, architect, site studies, land development.
Fix the schools we have with ASSET MANAGEMENT, and the district saves big.
The $52,000,000 number is architect smoke, Administration mirrors and a blinded board.
Asset Management clears the smoke, the mirrors and removes the blindfolds.
With Asset management you treat the schools with value and respect.

JEriCHo = Tax REBATE, Tax REDUCTION, NO DEBT.

*30,000,000 School @ 2.5% interest = $1,907, 604/Year and $8,153,008 in Interest
*Current BOND rate 2.95% scheduled payments = 1,805,000 2014/15 & $1,895,000 2015/16
*Current Millage rate 47+ mils and produced a BUDGET SURPLUS of $13,867,503/ ~7 years
$13,867,503 / 7 = 1,981,071 / Year over taxation

Once the bond for the High School is paid in 2015 the district will have a
YEARLY BUDGET SURPLUS of $1,895,000 – No debt PLUS an
EXISTING $13,867,503 BUDGET SUPLUS – from over taxation

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