Proposition 3 - Nov. 7, 2023
At the November 7, 2023 election, voters in the Rockwood School District will be asked to decide on Proposition 3, as required by Missouri law. This ballot item asks voters to allow the district to transfer 54 cents of the tax rate from the Debt Service Fund to the Capital Projects Fund.
Restructuring the tax rate will provide debt-free resources for safety, technology and facilities without increasing the tax rate.
Proposition 3 will require a simple majority to pass.
Here is the complete language that will appear on the Nov. 7, 2023, ballot:
By voting yes, stakeholders are not voting for a tax increase. They are voting to give Rockwood permission to move funds from Debt Service to Capital Projects to fund safety and technology upgrades as well as building maintenance, equipment and improvements. The ballot language is clear that this will not result in a tax increase: “...resulting in the total tax levy of the District to remain unchanged.”
We would be transferring, penny for penny, from the Debt Service Fund to the Capital Projects Fund, if Prop 3 is passed.
Restructuring the tax rate will allow the district to allocate resources to safety, technology and facilities with zero change to the overall tax rate.
|Total Tax Rate||$3.8907||$3.8907|
As shown above, the district’s total tax rate is comprised of four tax rates; one for each of the district’s funds. Under Missouri law, tax dollars collected in each fund can only be used for the purposes of that fund. Rockwood's long-range strategic financial plan called for a transfer of funds from Debt Service to Capital Projects and that can only be done through voter approval.
- The Incidental Fund provides resources for the daily operations of the district, including payment of salaries and benefits for non-certified employees, student transportation, curriculum resources, utilities, insurance, student activities, and other general operating costs.
- The Teacher’s Fund provides resources to pay certificated teachers’ salary and benefits.
- The Capital Projects Fund provides funding to maintain and refresh the district’s facilities and equipment.
- The Debt Service Fund provides funding to pay interest and principal on the district’s debt (bond issues).