Big Hollow still researching how much money to request

Big Hollow school officials will decide over the next month how much of an increase in taxes they will ask residents to approve in the upcoming election.

Big Hollow Elementary School District 38 officials listened to a complete break down of their revenue situation from their financial planners during a work meeting held Monday night at Big Hollow Middle School in Ingleside.

After it ended, school officials said they have no idea how much money they will need from taxpayers to bring the district back in the black.

"I really have no idea. None. Zip," said Superintendent Ron Pazanin. "We just need to wait and see what the planners come up with between now and November."

District officials updated their financial planners with current numbers and discussed other expenditure and revenue streams the district brings in.

The numbers are needed to figure out how much the district would need to ask for at the polls when the district goes out for referendum on Nov. 5.

Pazanin said the information and projected revenue streams will be reviewed by the planners and the amount the district should request will be brought before board members on Nov. 12. The district will make a final vote on the tax-rate increase at their Nov. 19 meeting.

"We are one step closer to knowing exactly what we will need," said board President Vickie Gallichio. "The financial analysts will take all the stuff we talked about tonight and run scenarios, then bring it back to us to help us make a final decision."

Officials at Big Hollow have been dealing with a cash flow shortage for the last three years. The district has borrowed $1.4 million, $1.8 million, and $2.4 million each year since 2005 to make ends meet.

District officials assume they will need to borrow more than $3 million in tax anticipation loans to make it through this year.

Officials cut art, music and computer classes in the district to help cut costs. They tried to also cut physical education, lunch and recess, but public outcry from parents in the district stayed the boards hand.

However, district officials said then those cuts would be put in place if the upcoming referendum isn't approved by voters.

When approved, a referendum committee will have about two months to get the public behind the referendum.

Residents have voted against four tax increases over the past three years.