Navarro College Trustees took action on the intent to set the 2020-2021 Fiscal Year Ad Valorem tax rate at $0.1164 per $100 of property valuation. The tax rate is the same as last year. A public hearing is scheduled for noon Thursday, Sept. 10 at the Cook Education Center.
The meeting is required because the current tax rate is higher than the No-New Revenue Rate of $0.1089. Junior College Districts, like Navarro are exempt from the 3.5% tax rate cap adopted in 2019. The difference between the rates is due to the increased amount of taxable valuation of properties in the county.
Trustees voted to approve the proposed rate by a required voice vote. Each trustee voted in favor, with the exception of Todd McGraw.
Trustees also approved the 2020-2021 budget. Teresa Thomas, Vice President of Finance and Administration, said there will be monthly adjustments made to the budget to account for fund reallocations and needs due to COVID-19. Federal Cares Act funding will also be included in the budget to defray some expenditure costs.
Trustees approved all regular financial reports for the months of July and August, presented by Teresa Thomas, Vice President of Finance and Administration. Thomas also said by 2021, all Texas counties update their Central Appraisal District database with truth in taxation information.
Enrollment and personnel reports were also given. Final enrollment numbers will be certified in mid-September.
Trustees were also updated on the progress of grant opportunities and continued plans to distribute more Cares Act funding to those students who qualify during 2020 fall term.
District President Dr. Kevin Fegan announced several upcoming dates of interest, during his report. The college will be closed Monday, Sept. 7 for Labor Day. The college will celebrate Navarro College Day Wednesday, Sept. 16. The day commemorates the first day of classes held at Navarro College in 1946.
There will be a reception and grand opening tour of the Sim Lab highlighting the new E-Sports program Thursday, Sept. 17 at the Bain Center and Computer Science Lab.
Board members approved the consent agenda and gaveled into closed session, with no action taken before adjourning.
The next meeting of the Navarro College Board of Trustees will be Sept. 17 at the Cook Education Center in Corsicana. Face coverings and social distancing protocols will be in effect.