The Mt. Vernon Community School Corporation will not collect the third and final year of its general fund referendum following a unanimous Board of School Trustees vote May 16.
“Our pledge to the community was to only ask for what we felt was necessary to maintain fiscal solvency essential for the academic programming that supported our students and staff,” stated a release signed by Mt. Vernon Board of School Trustees members Mike McCarty, Kellie Freeman, Tony May, Jason Shelton and Shannon Walls. “Through aggressive financial tactics such as competitive bidding and reduction of duplicated services, increased state funding and a continued growth in student enrollment we can now report we have a balanced budget.”
The district’s referendum was narrowly passed in 2014, when the MVCSC’s general fund was $4.2 million in debt. Currently, the general fund has a balance of $1.3 million and is anticipated to increase to $2.5 million by the end of 2016.
“We are grateful to the community for their support and belief in Mt. Vernon Schools that helped bring us to fiscal solvency,” Supt. Dr. Shane Robbins stated. “With the community’s support, we are now operating with a positive cash balance in the general fund while continuing to meet our staffing expenses. The school’s tax rates are the lowest they have been since 2013, and without collecting the third year referendum tax, taxes will be the lowest that they have been since 2010.
“The general fund referendum has accomplished what it was intended to do,” he added. “By not collecting the third and final year, we hope to demonstrate that we will only ask for what we need. We pledge to maintain fiscal solvency and transparency to the community.”
For more, visit mvcsc.k12.in.us.
