Bibb County School Board weighing millage rate options for FY2024
The Bibb County School Board is considering three potential millage rate proposals for the 2024 fiscal year.
MACON, Georgia (41NBC/WMGT) — The Bibb County School Board is considering three potential millage rate proposals for the 2024 fiscal year.
Bibb County School District
During a presentation on Monday, Chief Financial Officer Sharon Roberts laid out options A, B, and C based on the Macon-Bibb County Preliminary Tax Digest. Each option illustrates different fiscal outcomes for the District.
Option A would keep the current millage rate of 16.720 mills, a figure that has seen six consecutive years of rollback, according to the District. Options B and C suggest a half and full rollback of the millage rate, respectively. If selected, Option A or B would require public hearings prior to a final vote.
“The decision in setting the CY 2023 millage rate will determine the level of funding the District has available to continue to support current and/or new educational programs, schools, employee salaries and staffing levels, which in turn will influence reaching our Strategic Goals of Student Achievement, Staff Effectiveness, and Stakeholder Engagement,” the District’s Board Brief stated. “It could position the District to better compete with surrounding Districts’ salaries, which effect recruitment and retention efforts for FY 2024 and beyond.”
Option A, which would require a tax increase for homeowners, generates an additional $10.4 million in revenue annually for the District. According to the District, this would better support learning opportunities for students, allow for more competitive salaries for staff and influence recruitment and retention. The District could avoid falling below the fund balance to expenditure ratio until FY 2027.
Option B, which would require a smaller tax increase than Option A, would add $4.9 million to the district’s annual budget. However, this option could lead to a potential need for borrowing funds to meet payroll by FY 2025 and potentially jeopardize the district’s fiscal stability by FY 2027.
Option C, a full rollback of the millage rate, poses threats to the District’s fiscal stability as early as FY 2026.
The Board will hold a tentative vote on Thursday, July 20 at 4 p.m. at the Professional Learning Center, located at 2003 Riverside Drive. If the Board chooses to set the rate at any level higher than a full rollback, public hearings will be held to receive feedback from taxpayers.
A final vote is scheduled for August.
