from: Jonathan Griffin <[email protected]>
to: “[email protected]” <[email protected]>
cc: Trisha Hogan <[email protected]>
date: Jul 14, 2021, 5:05 PM
subject: RE: Records Request: (July 2021) Request for Transylvania County, NC Government: Taxes collected earmarked for “Transylvania County School Bond” as of 07/06/2021
This is a request for information without a specific record that can be referenced, but I will try to provide information that will help your requestor.
In the 2018 election, the voters of Transylvania County approved the issuance of $68,000,000 in general obligation bonds to pay for improvements at Brevard High School and Rosman High/Middle School in Transylvania County. The general fund tax rate was increased to generate property tax revenues equivalent to the estimated cost of paying those debts in future years.
This tax rate was levied as a part of the County’s general tax rate. As the taxes were levied as a part of our general rate, it is not possible to single out the precise amount “earmarked for Transylvania County School Bond”
There are no records responsive to that specific request.
However, the County has established an “Education Capital Project Fund” and deposited property taxes into this fund to pay for the costs of designing and planning the proposed improvements of Brevard High and Rosman Middle/High School before the school bond has been issued.
I have attached page 136 of the County’s 2020 annual financial report, which shows that the County deposited $5,283,182 into the Fund in fiscal 2020.
I have also attached the most recent quarterly financial report for Transylvania County, for financial transactions through March 31st, 2021 which shows that the County intends for FY 2021 to deposit an additional $6,200,000 into the fund.
The County will, as of 6/30/21, made $11,483,182 available for the use of the Transylvania County Board of Educations $68,000,000 plan to renovate Brevard High School and Rosman Middle/High School, pending future debt issuance. The County has also budgeted an estimated $6,200,000 deposit into the Fund for FY 2022, but this is contingent on property tax collections through 6/30/22.
**Editor’s Note: Please see referenced files at top left in documents
Response Received from Government