Over 40 people attended a presentation on the upcoming Education Fund Referendum Tuesday evening.   Fieldcrest Superintendent Randy Vincent told the crowd at the high school that voting yes for the tax referendum in the November election will not raise property taxes.  Vincent explained this is possible because it will no longer be necessary to contribute 0.37 towards the municpal retirement fund and the school will also be retiring working cash bonds that will cut .30 from the tax rate.  The  reduction of .67 from these two items will be less than the .65 increase in the education tax rate proposal on the ballot.

If the tax rate increase is approved $609,000 will be added to the school's budget each year.  The school will be able to hire 2 elementary P.E. teachers, 1 elementary art teacher, 2 high school teachers, and reduce the activity fees by 50% for a total of $287,000.   The remaining $322,000 will be used to cover normal operating expenses and the school will be financially stable through 2009..

On the other hand, according to Vincent, if the referendum is not passed then the board of education will have to borrow $1,500,000 to cover operating expenses which will result in the payment of $325,000 in interest. In addition, no programs will be restored, there will be no reduction in activity fees, and the school district will be financially stable only through 2009.  He added that whether the referendum is passed or not, property taxes will not increase.  Why would you not vote for something that will restore programs and provide additional operating revenue if it doesn't increase your taxes, he asked.

Mr. Vincent said that in the past 8 years revenue has averaged an increase of only 1.21% per year while expenses have increased an average of 4.9%.  In response to this deficit, the board of education has made over 1.8 million dollars in cuts on a 11.2 million dollar budget which has created a balanced budget but also has resulted in program cuts and exorbitrant fees at Fieldcrest.  He added that fees at Fieldcrest are much higher than at neighboring schools.

The board of education is not considering closing any buildings in the near future because it would increase class sizes in the elementary grades by over 50% which is unacceptable, according to Vincent.  He added that there is no more room for significant cuts.  He felt that the previous adminstration and board of education had made the tough cuts needed to bring fiscal solvency to the school district. 

Board of Education President Joe Kirkpatrick told the crowd that the board is committed to bringing back programs to Fieldcrest and urged those in attendance to spread the word that approving the tax referendum will not increase your property taxes and will restore much needed programs.