Tippy Valley Wrestles With Budget Issues
July 28, 2016 at 4:25 p.m.
By David [email protected]
Monday night, Valley's school board reviewed the estimated 2009 budget during a budget workshop. A public hearing will be held on the budget Aug. 28 at 7:30 p.m. at Mentone Elementary School, with the budget adoption meeting set for 7:30 p.m. Sept. 15.[[In-content Ad]]Valley doesn't have a 2008 budget because certified assessed valuations have not been established by the state at this time for Kosciusko or Fulton counties. However, Kramer said the certified assessed valuations for 2007 pay 2008 are expected sometime this week. Once Valley receives those assessed valuations, Valley will have a certain time period to respond to them, Kramer said, including a chance to appeal. Hopefully, he said, that all will be done in the next few weeks and Valley will get its 2008 budget approved.
On Aug. 8 at 1 p.m., Kramer said Valley and three other area school corporations will meet with the Department of Local Government Finance on budgets. In the past, each school corporation met separately with the DLGF. Kramer said he wants to wait until after that meeting to advertise the 2009 budget in case significant changes need to be made as a result of that hearing.
Valley's estimated total budget for 2009 is $22,146,232. The total estimated 2008 budget is $21,191,318.
The biggest fund of the total budget is the general fund, said Kramer. The general fund is used for salaries, benefits, supplies and programs. The estimated 2009 general fund is $15,487,284.
Debt service is used to pay obligations the school corporation has incurred, such as construction costs and interest on loans. The 2009 estimated debt service is $2,980,582.
Covering drivers' salaries, fuel, tires and other bus equipment is the school transportation fund. The estimated 2009 budget for it is $1,403,242.
The school bus replacement fund is a need-driven fund and is based on the number of buses Valley purchases, according to Kramer. In 2009, Valley is expecting to replace two buses for an estimated $180,000.
Valley has to have a three-year plan for the capital projects fund. That fund covers building costs, remodeling and special projects such as repaving parking lots. It also pays lease agreements in relation to some equipment Valley has, and pays a limited amount of the utility bills. The 2009 estimated capital projects fund is $2,015,374.
The sixth fund is the special education preschool fund. Its 2009 budget estimate is $79,750.
For planning the 2009 budget, Kramer said they based it on 80 percent of the assessed valuation approved in 2007. In 2007, the assessed valuation was more than $450 million. For 2009 budget planning, Kramer said they used a net assessed valuation of taxable property of $363,650,448.
The school board approved the estimated 2009 budget to be advertised as presented Monday contingent on what the school corporation hears at the Aug. 8 meeting with the DLGF, and if more changes would have to be made after that meeting.
TVSB members are Bryan Murphy, Rod Eaton, Hal Hoffman, Dave O'Brien and Mark Wise. Their regular meetings are on the second Monday of each month at 7:30 p.m.
Monday night, Valley's school board reviewed the estimated 2009 budget during a budget workshop. A public hearing will be held on the budget Aug. 28 at 7:30 p.m. at Mentone Elementary School, with the budget adoption meeting set for 7:30 p.m. Sept. 15.[[In-content Ad]]Valley doesn't have a 2008 budget because certified assessed valuations have not been established by the state at this time for Kosciusko or Fulton counties. However, Kramer said the certified assessed valuations for 2007 pay 2008 are expected sometime this week. Once Valley receives those assessed valuations, Valley will have a certain time period to respond to them, Kramer said, including a chance to appeal. Hopefully, he said, that all will be done in the next few weeks and Valley will get its 2008 budget approved.
On Aug. 8 at 1 p.m., Kramer said Valley and three other area school corporations will meet with the Department of Local Government Finance on budgets. In the past, each school corporation met separately with the DLGF. Kramer said he wants to wait until after that meeting to advertise the 2009 budget in case significant changes need to be made as a result of that hearing.
Valley's estimated total budget for 2009 is $22,146,232. The total estimated 2008 budget is $21,191,318.
The biggest fund of the total budget is the general fund, said Kramer. The general fund is used for salaries, benefits, supplies and programs. The estimated 2009 general fund is $15,487,284.
Debt service is used to pay obligations the school corporation has incurred, such as construction costs and interest on loans. The 2009 estimated debt service is $2,980,582.
Covering drivers' salaries, fuel, tires and other bus equipment is the school transportation fund. The estimated 2009 budget for it is $1,403,242.
The school bus replacement fund is a need-driven fund and is based on the number of buses Valley purchases, according to Kramer. In 2009, Valley is expecting to replace two buses for an estimated $180,000.
Valley has to have a three-year plan for the capital projects fund. That fund covers building costs, remodeling and special projects such as repaving parking lots. It also pays lease agreements in relation to some equipment Valley has, and pays a limited amount of the utility bills. The 2009 estimated capital projects fund is $2,015,374.
The sixth fund is the special education preschool fund. Its 2009 budget estimate is $79,750.
For planning the 2009 budget, Kramer said they based it on 80 percent of the assessed valuation approved in 2007. In 2007, the assessed valuation was more than $450 million. For 2009 budget planning, Kramer said they used a net assessed valuation of taxable property of $363,650,448.
The school board approved the estimated 2009 budget to be advertised as presented Monday contingent on what the school corporation hears at the Aug. 8 meeting with the DLGF, and if more changes would have to be made after that meeting.
TVSB members are Bryan Murphy, Rod Eaton, Hal Hoffman, Dave O'Brien and Mark Wise. Their regular meetings are on the second Monday of each month at 7:30 p.m.
Have a news tip? Email [email protected] or Call/Text 360-922-3092