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AHST approves Revenue Purpose Statement
For the complete story, see the Tuesday, February 9 edition of the News Telegraph
By Carlleen Bell
NT Staff Writer
Voters in the Avoca-Hancock-Shelby-Tennant (AHST) school district approved last week the district's Revenue Purpose Statement that illustrates how the district intends to spend one-cent sales tax (SILO) revenue.
According to AHST Superintendent Chuck Scott, each district in the state of Iowa must approve a one-time Revenue Purpose Statement that outlines how the district intends to spend sales tax dollars. Each district draws from a pool of state-wide funding that can be used for infrastructure improvements and development, such as building construction or athletic field development. It can also be used to pay down debt for the district. The one-cent tax revenue may not be used, however, for general fund use or employee salaries.
According to AHST Superintendent Chuck Scott, each district in the state of Iowa must approve a one-time Revenue Purpose Statement that outlines how the district intends to spend sales tax dollars. Each district draws from a pool of state-wide funding that can be used for infrastructure improvements and development, such as building construction or athletic field development. It can also be used to pay down debt for the district. The one-cent tax revenue may not be used, however, for general fund use or employee salaries.
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