School district finance director explains Nov. 5 measure
MARSHALLTOWN COMMUNITY SCHOOL DISTRICT REVENUE PURPOSE STATEMENT
(Public Measure C)
On Nov. 5, Marshalltown Community School District residents will be asked to vote on an amended Revenue Purpose Statement — Public Measure C — specifying the uses of the Secure an Advanced Vision for Education — SAVE – revenues the District receives; more commonly called the one-cent sales tax or statewide penny.
During the 2019 legislative session, the SAVE law was extended from 2029 through 2050. This extension will continue to allow Iowa school districts to fund school infrastructure projects and reduce outstanding debt obligations with sales tax revenue rather than property tax dollars.
What is a revenue purpose statement?
A revenue purpose statement describes how school districts can spend the one-cent sales tax that the legislature has dedicated to Iowa schools.
Do we currently have a Revenue Purpose Statement?
Yes. The current revenue purpose statement expires on Jan. 1, 2031. The district is asking to extend the expiration to Jan. 1, 2051 in order to utilize funds available due to the extension.
Will it raise my taxes?
No, this will not raise your property taxes or your sales tax. This is not additional taxation nor is it a vote on the one cent sales tax. That rate has already been set by the legislature and has been in place for several years. Approval of the revenue purpose statement will allow the District to utilize funds available due to the extension of the one cent sales tax from 2029 to 2051.
How is this funding used?
Marshalltown Community School District annually receives SAVE funding of about $5.6 million. The majority of this funding has been used to pay outstanding general obligation debt, which has lowered the overall property tax levy for MCSD residents. This funding is also used to pay for infrastructure projects such as the Roundhouse renovations, the current Safety & Security Management project at the elementary schools and for one-to-one Chromebooks for students in grades K-12. In order to complete larger capital projects and take advantage of low interest borrowing, a new revenue purpose statement, reflecting the changes in the law, is required to be approved by a simple majority of MCSD voters. If you have a question about the proposed revenue purpose statement please contact superintendent Dr. Theron Schutte or finance director Paulette Newbold at 641-754-1000. For assistance regarding voting, voter registration or absentee voting please contact the Marshall County Auditor’s Office at 641-754-6302.
Paulette Newbold is the
Director of business operations for the
Marshalltown School District