• Teton #1 now a recapture district
In the most recent board meeting for Lincoln County School District No. 2, JC Inskeep, Director of Finance, addressed the board of trustees and those online with some points of clarification. These points were regarding the LCSD No. 2 budget and how it is affected by increased property taxes in the area.
“In regards to tax collections, the more the local areas collect, the less the state sends,” he said. This is per state statute. For districts who collect more, they have to send that money to the state. For example, Teton County is one of four districts in the state that are considered recapture districts. Which means they bring in so much in local taxes that they not only do not receive state money, they are paying their excess to the state.”
Superintendent Matt Erickson noted that Teton County School District No. 1 is of similar size to LCSD No. 2. While the local district budget is estimated at $50.7 million, the Teton district is paying more than $65 million that is collected in taxes.
The point was made to clarify the misconception that more local property taxes means a higher budget for the school district.
Inskeep also described that LCSD No. 2 utilizes a method of ‘Phasing’ for major repairs in order to keep ahead of things.
“An example of phasing are the roofs that have been replaced at Star Valley High School, Cokeville High School and Star Valley Middle School,” he said. Those were completed with major maintenance money over three year periods and now they are good for 20-25 years. Another is the second-level wrestling room which is likely to be brought to the board next year. Portions of major maintenance can be carried over three to five years; which is our general protocol. We’ve always paid for our stuff in cash. We have saved, bidded and expensed those items.”
Inskeep noted that LCSD No. 2 has approximately $180 million in assets with an annual maintenance fund of approximately $2.2 million to operate it all.
“That’s a fairly thin line really,” he added.
Superintendent Erickson noted to the board and those in attendance that when a principal of a facility suggests something for major maintenance, it is typically a five-year process. He and board member, Lynn Call, expressed the desire to explain the process better to area residents and stakeholders.
“We can do better as a district to educate the public that we do not pocket the increased property taxes,” Erickson concluded.
