Cary District 26 may seek another referendum

The oft-talked about referendum in Cary Elementary District 26 is up for discussion again, a result of dire financial straits that prompted the district to make $6.6 million in cuts this year.

"Our financial situation hasn't changed," Finance Committee Chairman Chris Jenner said. "It was bad then, it's worse now."

School board members sat through a presentation this week outlining three referendum proposals, one of which could go on the November ballot.

• Option one: float a $20 million working cash bond that would help the district fund capital improvements and reduce its need for short-term borrowing. This would be a one-time bond that would raise the district's tax rate 19 cents, Jenner said.

• Option two: raise the local limiting rate 40 cents per $100 equalized assessed valuation to help pay for ongoing operations that include salaries and benefits. Because of the state's tax cap, the hike would be in effect for only three years.

• Option three: a combination of both plans that would mean the owner of a $300,000 house would pay an additional $1,300 a year, Jenner said.

Jenner declined to speculate how any of the options would fare with voters. Last spring, voters roundly rejected a $17 million working cash bond.

"People want a choice and right now, everyone has a choice to write a check to any government body they would like, including District 26," Jenner said. "Should a tax hike measure pass, choice is taken away."

Earlier this spring, the district authorized a series of cuts reducing staff by a third, eliminating music, art and band programs and shuttering Maplewood Elementary School.

The board is expected to vote June 28 on whether to go to a referendum. If trustees approve the measure, they will decide at a later date which option goes on the ballot.