A lot of yeah. I think I lost them. Thank you. Good evening. I call this meeting to open at 06:25PM. Directors present tonight are director Tyler, director after, director Bloomberg. So Direct. Thank you. Good evening. I could speak to 06:25PM. Directors present tonight. I know. Director DeFriedy's and myself, meaning we have a quorum. Thank you to our interpreter, Rodrigo. Would you please share the interpretation instructions with our participants, and then we can turn on the interpretation function. The first business in order is the approval of the agenda directors.
Are there any proposed changes to the agenda? No. Do I have a motion to approve the agenda as presented? I move that we approve the agenda as presented. Do I have a second? I second. All in favor, say aye. Aye. Motion passes. The next business in order is the approval of the, fiscal year 26 mill levy certification. Do I have a motion to approve the mill levy certification? I move that the board approve the f y 26 mill levy certification as presented. I second. We will now have two minutes of discussion for each board member. Oh, sorry. Chief chief Chicoine, if you could please, bear with the board.
Thank you, director Ramirez. I'm just gonna go through the the CFO report briefly, just trusting that everybody's reviewed it, but just in the in an effort for transparency is just providing a lot of information for for constituents so that everybody understands all of the relevant information around mill levies because it is very complicated. It's a complicated topic, trying to make sure that everybody can understand it effectively because it's also an important topic. So that's why there's a lot of information in the report I'm probably not gonna
touch on. I'm just gonna see if I can run through that. Oh, other direction. Okay. Thank you. Okay. Thank you. Okay. Okay. So looking at the first slide, the one thing that I'm gonna note here is on the last bullet is it says represents 69% of district total district revenues and 82% of total program funding revenues with this property tax and will be rate. Those are higher than the the prior years, because of a lot of things that's going on at the legislative level at the state level that's outside of the district's
control. So last year, it was in the fifties, 50% ish, for the total district revenues and around 71% for the total program funding revenue. So that has increased roughly 10%, 11% on that. So just something really important to note. And it's those are for things outside of the district's control. So then I'm gonna just kinda skip down. I encourage anybody that is new to mill levies to read all the information that I put in here. That's really, useful to just kinda grasp how mill levies work.
So we're just gonna just focus on the specific mill levies related to the district. The first one we're gonna talk about is the bond mill levy, and that is repayment for the the bonded debt that was paid by or or was, approved by taxpayers. Excuse me. So looking at that, the mill levy rate itself is gonna go from 7.781 to 6.54 6.546, which is a reduction of 1.2. So that part is is a good thing. And the the dollars are actually staying pretty much the same too.
So what's happening is our net assessed valuation is increasing by 18%, so it's reducing the mill levy rate for taxpayers on that one. And looking at the mill levy override, there's, we actually have four separate votes that is noted there. There is only one of those that increases by inflation, which is our $20.21 mill levy override. And now looking at, what that really means to us is that we would be garnering an additional $259,000, and that is related to the 3.1% inflation, which is based upon Denver Boulder CPI.
And so that's the only increase that the mill levies are going to have this year. And so because that 3.1% obviously doesn't for one of the four mill levies does not keep up with the 18% increase in assessed valuation. The mill levy rate is actually going down here as well for taxpayers. K? So going into the total program mill levy, now your total program mill levy, this is a part of how we get our school funding for per student just for everybody to understand what this total program means.
And when you look at this one, this one's just a lot more interesting because it's legislatively, mandated how these mill levies work. And so when you look at the total program mill levy, it says 27 mills on that one line. Now that is the amount that they're ratcheting up to, and they've had this mill levy rebate over the years that has been ratcheting, like, down as the mill levy rate has been ratcheting up. And so if you look at the 24 twenty twenty four mills of 25.759,
it's increased by one point o mill to 26.759. When you take that into consideration that also the residential assessment increased from 6.7% to seven point o 5% for school district specifically, which is also legislated by the state, and it reduced the $55,000 property credit, which increased the assessed valuation. At the same time, as the Miller View rate is increasing, it resulted in 10,900,000.0 additional dollars come for our total program funding that is coming from from our property
tax source. K? So that is a 23% increase. So that is a big increase. And I wanted to note all of those different factors that are out of the district's control of why that happened. But the mill levy only itself only went up by one point o mill according to state statute. K? So that one's a little bit more interesting. When we look at the abatement mill, that is just remilling for those, assessments and, and taxes that we're never going to get so that we have a legal obligation
to receive. So then we're remilling for that because they were abated to the taxpayer. So that's just the abatements actually went down between years, so that mill levy rate did decrease slightly. And then looking at the total summary, so the total, mills is actually going down by over one mill. So that's good. And and looking at the value of what, a home value with the 1,500,000.0 would pay $4,383.87,
which would be an increase of 4.93% over the previous year because of those legislative issues, that we discussed earlier. Okay. Any questions? K. Thank you, We will now have two minutes for discussion for each board member and five minutes about the discussion. Director Kullenburg. I don't have any questions on this. I appreciate the thorough discussion and presentation and the highlighting of this complex process for community because I think it's something that, people hear about a lot, but they don't
know the specifics and the mechanisms that make it all work. So thank you for your work on it and for getting this to us in a timely way. Thank you. Director DeFries? Yep. Thank you for the presentation summary. I just, correct me if I'm wrong here, but we are finishing up reaching mills of a process that we started by a voter approval a while ago. Right? Didn't we? We've been working some in over the years. Is that correct? So, the the mills for the total program, those, that I think that's been, increasing
over the last, I wanna say, five years. Mhmm. It's been for quite some time that it's been increasing at the rate of 1 mil per year. And this is the last year for that. Is that right? Yeah. This is the last year it's gonna go up one mil. The next year, it's gonna go up roughly point two mils. So there is this little itty bitty amount to get from the 26.7 that we're at to, the '27, which is what was voter approved in 2020. What year? 2021. Back up. State statutes.
Yeah. Oh, okay. Thanks. Yeah. Yeah. Okay. Appreciate it. Like, thank you. Yes. That that's the state statute, and I wasn't sure. I think that was legislated. Okay. Yeah. Thank you. No problem. Got it. Mhmm. Direct director Tyler. Thank you for this information. The only thing I would like to add is that even though taxes have gone up for homeowners, I just wanna restate that the school isn't getting that kickback, and we are not receiving more money. And because the state just backfills what the property tax doesn't pay, and so even
though property tax has gone up for our community, the school isn't reaping the benefits of that, and it's just the state then has to give us less. So just to make sure that that's out there, this is an important thing to say. Thank you for that point. That is very important. Mhmm. Director. Thanks. Yeah. I thanks for making that point, director Tyler. I just had one detailed question to check my understanding. On slide, five, where it says property values, it says they're reassessed every odd year.
Mhmm. And then it says in '24, it was a set. Is that a typo? I was questioning that too. Okay. Oh, it might have been for the prior year. I'm so sorry. It's okay. I just wanted to make sure because I was confused about why it only why assessed value only increased point 67% in '24 and then 18.4 in '25. Oh, yeah. And that is not a typo. Okay. Hopefully. Okay. That because that's not I'm not understanding. Yeah. So because 2024 is an even year, so that was not a reassessment year, There's
very little change in the, the actual cert search certified values of properties. And so that's why it only goes and changed by point 67% because they weren't reassessed until 2025. Okay. I think it's on the slide, it says '25 was not a reassessment. Oh, sorry about that. Okay. I understand. And that makes sense. Okay. Yeah. Sorry. That's what I meant to say. No worries. That's fine. Sorry to, check on that. I don't have any other questions. Thanks for the presentation. I always find these really helpful.
Okay. Good. Okay. Thank you. I'll echo those sentiments. We had finance committee Monday, and, you know, I think one of the great things about having being up to date now with the CFO is the fact and having finance money is that we get to talk through our finances more often as board members. And so, just really wanna give appreciation. I know that we are adjusting to expectations in regards to, like, our corelies or financials and everything, and I just so appreciate it.
Even for our Milleavy certification that is so routine that it we take the time to educate and to have conversation about district finances in a real way that, community can understand. So thank you so much for that. Okay. Are there any further questions from the team? We can call for a vote. Director. Aye. Director. Aye. Director. Aye. Director. Aye. Director. Aye. Thank you. Thank you. K. The next business in order is our new member induction. I will administer the oath of office to our new member and to our one
continuing member. We will go through one at a time in alphabetical order and starting with director Colbert. K. Catherine, can you please raise your right hand? Got it. Do you solemnly do you solemnly swear that you will faithfully perform the duties of the office of school director as required by law and will support the constitution of The United States, the Constitution of the State of Colorado, and the laws made pursuant thereto. Hi, Catherine Kullenberg. Do solemnly swear that I will faithfully perform the duties of the office of school director as required by law and and will support the constitution of The United States,
the constitution of the state of Colorado, and the laws made pursuant thereto. K. We will now move on to Tammy Nemo. I think I should. Right, Tammy. I stand up. Hell, yeah. Yeah. Somebody should, like, you know, raise your right hand and stand up. Tammy, can you please raise your right hand? Do you solemnly swear that you will faithfully perform the duties of the office of school director as required by law and will support the constitution of The United States, the constitution of the state of Colorado, and the laws made pursuant thereto? I, Tammy Nimmo, do solemnly swear that I will faithfully perform the duties of the
office of school director as required by law and will support the constitution of The United States, the constitution of the state of Colorado, and the laws made pursuant thereto. We will now transition the district a seat to director Neap Mo, and we will obviously say another thank you Thank you, Wendy. To director Tyler, who has faithfully performed these duties for the last four years. Hi, Kenny. Oh, you're saying? Okay. Good. Welcome to director Nimmo.
We still have a quorum. We now have director after, director DeFries, director Kullenberg, director Nimmo, and myself. K. Okay. For information yep. Coming. The next business in order is nomination for the office of board president. Are there any nominations? I just give me a second. Wait. It's not scripted out. No. Number five. You just say who you nominate. Okay. I would like to nominate Lindsay DeFriedes for a chair. Are there any further nominations for the office of board president?
Seeing none, nominations for the office of board president are now closed. The nominees for the office of board president are director DeFries. We will now hold the election for the office of board president by roll call. Director after? Yay. Director DeFries? Yay. Director Krumenberg? Yay. Director Yay. Director Ramirez? Yay. Thank you. Oh, we actually don't have to swap. You just We would just pass that. Here we go. Here's here's the problem. This is this is where it's asking. Okay. Oh, funny. Thank you all. I appreciate the trust. The next business in order is the nomination for the office of board vice president.
Are there any nominations for board vice president? I would like to nominate director Kuehlenberg for board vice president. Director Kuehlenberg is nominated. Are there any further nominations for the office of board vice president? Seeing none, the nominations for the office of board vice president are now closed. The nominees for the office of board vice president nominee is Catherine Kullenberg. We will now hold the election for the office of board vice president by roll call. Director Aftar. Aye. Director Nefraems. Aye. Director Kullenberg. Aye. Director O'Neill. Aye.
Director Greenberg is been elected as a new board vice president. Congratulations. And then the next business in order is nomination for the office of secretary and treasurer of the board. One person may simultaneously hold the offices of board secretary and board treasurer. Are there any nominations? I would like to nominate Director Ramirez for the office of treasurer slash secretary. Director Ramirez is nominated. Are there any further nominations for the office of secretary and treasurer of the board? Seeing none, nominations for the office of secretary and treasurer are now closed, and the nominee is director Ramirez. We will now hold the election for the office of secretary and treasurer of the
board by roll call. Director Afton. Aye. Director Dufrene. Aye. Director Ramirez. Aye. And director Ramirez has been elected as the new board secretary and treasurer. Congratulations. And I guess if there's no further further business and there is no objection, then this meeting will be adjourned. It is 06:44PM.