Glasgow Independent Schools discussing taxes for revenue

GLASGOW, Ky. – Many kids across the area started their first day of school on Wednesday, but the Glasgow Independent Schools Board of Education has been hard at work finding the best way to keep fund coming into the school district.

Taxes have been one of the most steady revenue streams. Glasgow Independent Schools and the board recently reviewed options to determine whether they should increase the tax or take the compensating tax rate.

The board decided to pursue the compensating tax rate which will marginally decrease the rate from last years 79.1 cents to 78.5 cents instead of a 4 percent increase to 81.6 cents. That compensation rate is expected to generate a little over $7.8 million.

Superintendent Chad Muhlenkamp says that taking the compensation rate can be challenging due to keep up with teacher salaries and infrastructure, but they are glad to have such a supportive community behind them.

“It does make it a little bit more challenging times when you do the compensating” Muhlenkamp said. “Because like I said, there’s only a couple of streams of money that we have that are reoccurring and not one time, you know, sometimes grants come in, but it’s a one time grant, so you can’t bank on reoccurring costs for the district of those numbers. So like the tax rate is a reoccurring revenue source for us. So, you know, you make decisions that are reoccurring, such as salaries and stuff off of that same revenue source. That way you kind of can balance it.”

Recently, the teachers in the Glasgow Independent School district received a 2 percent increase in salary, which translates to about $330,000 for the the school system to come up with.

Starting on the week of Aug. 17, an advertisement will be placed in the local newspaper to let those living within the school district know about their plans moving forward, and an open meeting will be held by the board of education to discuss the decision further.