Members of the Woodridge Local Board of Education Jan. 14 unanimously approved seeking the voters' approval of the renewal of an existing levy on May 6.
The levy, approved in May 2009, expires at the end of this year. The Board agreed to ask voters to approve the renewal of a 10.87-mill, 10-year levy which would generate $5.27 million annually for the district's general fund.
The County Fiscal Officer has certified to the School Board that the total current tax valuation of the School District is $4.46 million and the estimated annual tax levy required throughout the life of the proposed levy to produce the annual amount of $5.27 million as set forth in that resolution, calculated in the manner provided by law, is 10.87 mills.
On Dec. 10, the Woodridge Local School District Board of Education took the first step toward putting the renewal of an existing tax levy before voters on the May 2014 ballot. If passed, the levy will have a duration of 10 years. Passing this latest resolution to place the issue on the ballot is the second step.
"We go in the red, (by approximately $3.5 million) cash balance wise, in 2015-16 if we don't put the levy back on the ballot and renew it," School District Treasurer Deanna Levenger told the Board in November. The school district's general fund budget this year is approximately $24.002 million.
The body faces a Feb. 4 deadline for submitting the necessary paperwork to the Summit County Board of Elections to get the issue on the May 6 ballot. The idea of pursuing a levy that's 10 years in duration was the recommendation of the district's Finance Committee. Five years ago, the school district merged two levies which were both up for renewal into an 11.38-mill emergency operating levy, five years in length.
Editor's note: Reporter Ellin Walsh contributed to this article.