JCSD1 Hopes For Help From Lawmakers On Cashflow Issues

Dr. Rod Kessler
Dr. Rod Kessler

At last week's meeting in Kaycee, the Johnson County School District 1 Board of Trustees discussed cash flow issues the district may face this year or in the future thanks to changes in how money from recapture districts is given by and paid back to the state.
Recapture districts, which there are nine of in the state, take in more tax revenue in their county than the state guarantees them to run their districts, and the excess funds must be paid back to the state.
Recapture districts get two major tax payments per year, one in December and the other in May. That means the districts must borrow money from the state at the beginning of the schoolyear to operate their districts. They must pay back their loans on a specific schedule or face paying six percent interest if those payments are late.
The second issue is that districts are required to have a reserve for the everyday operations for the district, but Johnson County's reserves are significantly smaller than those of a district like Campbell County, that has been a recapture district for a number of years, and has built a large reserve fund.
Superintendent Dr. Rod Kessler explains what changes the district feels need to be made to make the system work, at least for Johnson County.
Kessler told the board that he and district business manager Matt Ramey had discussions with State Representative Mike Madden and State Senator Johns Schiffer about their concerns over the possible cash flow problems.
Madden and Schiffer said they would take their concerns to the Wyoming Legislature.

uBlaze Vapor
view counter