Levy and Bond Recap

Board Report

September 10, 2013

Planning Parameters • Three separate ballot measures to our voters:

A replacement M&O levy that assures support of the General Fund to the maximum capacity allowed by law.

A Capital Projects (Technology) levy which provides funding to continue to upgrade and maintain our technology and systems.

A bond issue for a new high school, continued modernization work and other facility maintenance efforts.

• Four years include: 2015 thru 2018• Target rate: Not to exceed current rate.

(2013 rate is $5.29)

Board Public DiscussionsDate Type Meeting Subject Presenter/Lead

11/27/12 Study Session 2014 Levy & Bond Planning

Business Services

5/14/13 Study Session Bond and Tech Levy Planning

CBPTF and TAC

7/9/13 Study Session Levy & Bond Update Business Services

8/13/13 Study Session Feb 2014 Bond/Levy CBPTF and TAC

8/27/13 Board Retreat CBPTF and TAC Recommendations

Board & Superintendent

9/10/13 Board Report Levy & Bond Recap Business Services

Recommended Proposition Targets

  2015 2016 2017 2018

Educational Maintenance & Operations Levy

$48.5M $49.5M $50.5M $51.5M

Capital (Technology) Levy

$8M $8M $8M $8M

Capital Bond Authority $177.5M      

Educational Maintenance and Operations Levy

• Renewal levy replacing expiring M&O levy• Purpose: “To enhance district educational program”• Supports day-to-day operational costs not

covered/fully covered by state and federal funding. o Staff Professional Development & TRI Stipendso Special Educationo Curriculum Adoptionso Transportationo Athletics and Activities

• Total: $200,000,000 over 4 years

Capital (Technology) Levy

• Renewal levy replacing expiring levy• Technology Advisory Committee Recommendations

o Instructional• Instructional Computing Devices• Professional Development and Digital Resources for Tech Integration• Instructional Technology Coordinators and TOSAs• Classroom Audio and Interactive Classroom• Data Analytics

o Operational• District Software Maintenance and Levy Support Staff• Printer Modernization• Platform Review• Ancillary Information Systems and HR Systems Review• Administration Workstation updates

• Total: $32 million ($8 million per year)

Bond Authority• Capital Bond Planning Task Force Recommendations:

o Growth and Instructional Equity – New High Schoolo Modernizations – Woodinville High School Phase 3o Building Modernization Program- Extend facility life (roofing,

flooring, HVAC, fire alarms)o Security upgradeso Code/Small workso Circulationo Fieldso Technology network infrastructure and capacity upgrades

• Amount: $177,500,000

Projected Rates• Assumption: Assessed valuation will grow at

3% per year• Estimated Rates:

Year Rate

2013 $5.29

2015 $5.18

2016 $5.17

2017 $5.16

2018 $5.15

Tax Rate ExampleAssumptions:

$400,000 house (2013 value)AV Change: +3% per year (2014 thru 2018)

Last Official Rate: 2013 Rate of $5.29

Home Value Rate Annual Tax Increase2013 $ 400,000 $ 5.29 $ 2,116 2014  $ 412,000 $ 5.19 $ 2,138 $ 22 2015 $ 424,360 $ 5.18 $ 2,198 $ 60 2016 $ 437,091 $ 5.17 $ 2,260 $ 62 2017 $ 450,204 $ 5.16 $ 2,323 $ 63 2018 $ 463,710 $ 5.15 $ 2,388 $ 65

Average annual increase for new propositions $ 62.46

Note: Above example does not take into consideration new homes being added to the tax rolls or increases in commercial business, both of which will result in decreased taxes for existing homeowners.

Timeline

• September 24th – First reading of Resolutions and Propositions.

• October 8th – Approval of Resolutions• December 27th – Deadline for filing of

Resolutions• February 11, 2014 - Election Date