Written by Phil Cerroni
Irving Flood Control District Section
The proposed rate represents a one half of one cent increase from the 13.4 cents per $100 valuation that had been levied for the current 2011-2012 fiscal year. This modestly increased tax rate allows for funding of capital improvements in the District’s emergency power system at the pump station. It follows a year in which the board was able to enact short term reductions in both operating and capital expenses, according to IFCD 3 board President Kim Andres.
“During this past fiscal year, IFCD 3 paid off a small remaining balance on the District’s Series 1990 bond issue, and was able to appropriately redirect a fund balance associated with this concluded bond program to fund several capital projects without any borrowing activities. Taken together, these actions had resulted in a substantial reduction in the funding required for 2011-12 and a corresponding reduction in the 2011-12 tax rate, compared to the previous 2010-11 fiscal year,” said Andres. “The need to move into the next phase of updating the electrical system at the pump station, including the addition of back-up electrical generation capabilities, suggests that District advance a budget which can be achieved by the one half of one cent increase in the tax rate. The pump station improvements are a multi-year project; we anticipate these electrical system updates to be completed in fiscal year 2013-14.”
The proposed 13.9 cent per $100 valuation tax rate will be on the agenda for adoption at the Sep. 10 meeting of the IFCD 3 board, to be held at 6:30 p.m. at the Cimarron Recreation Center. The 2013 IFCD 3 fiscal year runs from Oct. 1, 2012 through Sep. 30, 2013.
Source: Irving Flood Control District Section