Posted: Nov 1, 2012 6:17 PM by Katy Harris KXLF News
Attorneys for the Anaconda School District and Department of Revenue will discuss a possible lawsuit settlement over the districts use of flexibility funds.
Since 2009 the school district has received Tax Increment Financing Industrial District monies and has placed those revenues into flexibility funds without any DOR intervention.
The Department of Revenue now thinks the district should deposit this source of money into the general fund.
That would require a rollback in the school district's tax levy for that fund.
The school district says they're in compliance with accounting procedures established by the Office of Public Instruction, state law, and the Deer Lodge County Commission.
Attorneys will meet late next week to discuss the settlement.