HomeMy WebLinkAboutC.054.93011_1178 (2)EXPLANATION OF SALES TAX FORMULA: Blumenstein said that prior
to last year the sales tax on food was allocated at one cent on point of delivery to each
county. She said the one cent tax had no restrictions -- it all came to the county.
However, starting last fall the allocation method changed. Blumenstein said the 1983 %z
cent sales tax had a 30% restriction for school capital, and the 1986 Yz cent had a 601/6
restriction for school capital. Blumenstein summarized by saying that in the past the
funding came in to assist with current expense, but now, a portion was restricted for
school capital upfront.
ADJOURNMENT: Chairman Tice adjourned the meeting at 8:50 p.m.
Approva Eo
'Cle;,k the Board