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CMSD Ends Fiscal Year with No Shortfall

For the first time in a decade, the Columbus Municipal School District is ending the fiscal year without a shortfall.
Business Manager Ken Hughes reported that the district collected more money than it requested during FY12.
“Our total ad valorem request last year was $13,391,187,” Hughes said. “We collected $87,311 more than we requested. So there is no shortfall for the fiscal year ended June 30, 2012.”
“Would you sat that again, please?” asked President Tommy Prude. “Take your time and say it slowly.”
“There is not a shortfall for the fiscal year ending June 30, 2012,” Hughes repeated.
“Hallelujah,” Prude said.
This is the first time in about 10 years that the district has ended the fiscal year without having to declare a shortfall. The FY11 and FY10 shortfall notes are still being paid off, however.
[I couldn’t immediately find in my notes how much is owed on those two notes. The total debt service for FY13 is about $4.2 million, which includes the two shortfall notes as well as construction at Columbus High School and the construction of Columbus Middle School; three-mill notes for construction at Stokes-Beard; CHS renovations in 2008; construction of new classrooms at Cook, Sale and Stokes-Beard to house fifth grade students; and payments on a Mississippi Development Authority loan to retrofit lighting. – Brian Jones]
Hughes also reported the district reduced its ad valorem request for FY13 by around $50,000.
“We need to approve a resolution to present to the city council for our ad valorem tax request [for FY13],” Hughes said. “The dollar amounts in here are less than what we said at the last board meeting. We have reduced the district maintenance request by about $49,000.”
“This request is in line with amount of money we need to operate the school district successfully,” said Deputy Superintendent Craig Shannon. “We wanted to make sure our millage rate was the same as last year, and in order to do that we needed to adjust the request by $49,000 and we made that reduction today.”
The resolution was approved 4-0. Jason Spears was not present.
The district’s final ad valorem request, with the reduction, is $13,158,956.
In other business, the board
submitted a $750,000 grant request to the Department of Education. Funding would be used to enhance literacy instruction, including opening school libraries on weekends.


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