Mountain View Whisman School District
Agenda Item for Board Meeting of 6/13/2024
Agenda Category: REVIEW AND ACTION
Agenda Item Title: Amendment To Education Enhancement Reserve Joint Powers Agreement (EER) (30 minutes)
Estimated Time: 30 minutes
Person Responsible: Ayindé Rudolph Ed.D., Superintendent
Rebecca Westover, Ed.D., Chief Business Officer
Background:
Residents value schools as an essential community service. MVWSD provides educational excellence at a bit of a disadvantage, however. Some revenue that would otherwise go to our schools comes from the Shoreline Regional Park Community, a special tax district that redirects tax revenue from MVWSD to the City. The City redistributes a portion back to the schools, but it is only a portion of MVWSD’s entire share.
Fiscal Implication:
The adjusted payment for the 24-25 year will be calculated by applying the same percentage change in property tax revenues compared to the preceding fiscal year to the minimum payment. The payment for the 23-24 year was approximately 6.5 million.
The District will also receive annual new residential property tax payment (NR-PTP) based on the residential property development that occurs after December 12, 2017.
Recommended Action:
It is recommended that the Board of Trustees approve the Short Term Education Enhancement Reserve Joint Powers Agreement, as presented.
|