Chairwoman Debbie Wesslund called the Tax Rate Hearing for Fiscal Year 2011-11 to order at 6:42 p.m. and read the following statement:

TAX RATE HEARING

FOR FISCAL YEAR 2010-11

This hearing is being held pursuant to the provisions of KRS 160.470 for the purpose of hearing public comments regarding a proposed 2011 general fund tax levy of 67.6 cents on real property and 67.6 cents on personal property.

The general fund tax levied in fiscal year 2010 was 64.6 cents on real property and 64.6 cents on personal property and produced revenue of $359,973,919.  The proposed general fund tax rate of 67.6 cents on real property and 67.6 cents on personal property is expected to produce $388,686,000 in revenue. Of this amount, $40,140,120 is from new and personal property. The compensating tax rate for 2011 is 65.1 cents on real property and 65.1 cents on personal property and is expected to produce $374,311,518 in revenue. 

The general areas to which revenue of $28,712,080 above 2010 revenue is to be allocated are as follows:

All persons who have requested to speak on the proposed rates will now be given an opportunity to present testimony. Each speaker is allowed three (3) minutes to address the Board. At the end of 2-1/2 minutes, a bell will sound once.  You will then have 30 seconds to finish your statement. At the end of three (3) minutes, the bell will sound twice indicating that your speaking time has ended.

The following persons addressed the Board of Education concerning a proposed 2011 general fund tax levy of 67.6 cents on real property and 67.6 cents on personal property:

1. Ken Flaherty
2. Marilyn Parker
3. Dave Goldberg
4. Marvin Dever
5. Mary Bowling
6. Hollis Smith
7. Robert O'Connell
8. Mary Jo Robke
9. Beverly Morris
10. Jerry Hensel
11. David Tomes
12. Becky Peak
13. Brent Whaley
14. Wendy Caswell

All persons who have requested to speak on the proposed rates will now be given an opportunity to present testimony. Each speaker is allowed three (3) minutes to address the Board. At the end of 2-1/2 minutes, a bell will sound once.  You will then have 30 seconds to finish your statement. At the end of three (3) minutes, the bell will sound twice indicating that your speaking time has ended.

A motion to adjourn the August 23, 2010, Tax Rate Hearing for Fiscal Year 2010-11

Order #130 - Motion Passed:  A motion to adjourn the August 23, 2010, Tax Rate Hearing for Fiscal Year 2010-11 at approximately 7:32 p.m. passed with a motion by Mr. Joseph Hardesty and a second by Mr. Stephen Imhoff.