GREENWOOD SCHOOL REFERENDUM LIKELY IN APRIL
Monday, December 21st, 2009 -- 2:47 PM
It?s not an exaggeration to say the future of the Greenwood School District will hinge on the their ability to pass another revenue cap exemption ? and it appears that decision is drawing closer.Greenwood?s school board could approve a resolution to take another referendum to voters at their meeting next month. If they do, the question will go to voters on April 6th.
The district is currently operating under a 5-year, $500,000 cap exemption that will expire at the end of the year.
"My belief would be we would at least need to replace (the $500,000)," says Dr. David Westhoff, Greenwood?s superintendent.
Discussions about the size of the next referendum are very preliminary, but he believes $500,000 is the 'minimum' the board should seek to assure programs and staff are maintained.
The board seems committed to seeking a non-recurring referendum, and while no time limits have been set in stone, the district will retire some debt in six years, so a 6-year referendum would seem to make sense, Westhoff says.
"It's bonded debt and the payment on that is very close to what we're paying on the referendum...I'm sure we are thinking along those lines of the possibility that we may try a six-year referendum," he says.
While the district has a fairly healthy fund balance of around $1.3-million, Westhoff says it will disappear quickly if they lose a half-million-dollars in annual revenue.
"The impact simply means we'll have to reduce our spending by $500,000," he notes, "it's probably not possible to do that without reducing staff."
Westhoff says the board may take action on the referendum issue at their meeting on January 18th.
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