MENTONE - Anticipating some kind of change in commercial vehicle taxes, the Tippecanoe Valley School Corp. Board of Trustees is planning the budget for 2001 at only 95 percent of the assessed valuation.

Dan Kramer, TVSC assistant superintendent, said they were advised by a state representative to plan the budget at 95 percent. At 95 percent, the tax rate will be more than if the budget was figured at 100 percent of the assessed valuation.

The assessed valuation for the school corporation at 95 percent is $85.12 million. The 2000 assessed valuation advertised was $88.65 million.

On Thursday, the board approved the overall tax rate to be advertised at $6.82, with a proposed budget at approximately $15.9 million. The board also approved the capital projects fund plan and bus replacement plan to be advertised.

The budget comprises six funds.

The 2001 proposed general fund budget is estimated at $12 million. The general fund is the largest fund. The corporation needs to tax for the maximum levy for the general fund, Kramer told the school board.

This year, the transportation fund is divided into two separate funds. The proposed operating transportation fund for 2001 is $945,169; the bus replacement fund proposed is $120,648.

The capital projects fund is proposed at approximately $1 million for 2001. Money from this fund is generally used for remodeling, building and special projects. It is "need-driven," said Kramer.

"This is one fund that I feel we, as a corporation, can control," said Kramer.

Proposed debt service fund for 2001 is approximately $1.7 million. Debt service is a tax that pays for debts already incurred, said Kramer.

The smallest fund is the pre-school fund, at $49,500. All school corporations in Indiana must contribute 1 cent for this fund. The fund pays for programs for 3-, 4- and 5-year-olds with special needs. Tippecanoe Valley expects to have 18 students in the program next year.

Board member Tom Weaver asked Kramer how he felt about the overall budget.

"As a corporation, financially, we're in very good shape," replied Kramer.

In other news:

• Superintendent Dr. Karen Boling told the board she received TVMS Principal Doug Jacob's resignation Thursday. He received another job in Yorktown. A committee will be formed from middle school staff and parents to find his replacement.

• Upcoming board meetings include: Aug. 14, regular board meeting; Aug. 21, public hearing of proposed budget; Sept. 11, regular board meeting and budget adoption; Sept. 18, school board training retreat.

• The school board approved an out-of-state trip to San Diego, Calif., for Burket Principal Mary Ann Irwin. The only cost to the school corporation will be mileage to the airport and meals.

• Camp Shekinah's request to use a school bus to Grissom Air Force Base on July 26 was approved.

• Maintenance director Larry Sanders told the school board he installed air conditioners in the six Burket Elementary classrooms for less than $7,500.

• The board approved a lease agreement with Xerox for a new copier for the high school. The copier is digital and can print 55 copies per minute. The total lease is for $9,250.

"It looks like the copier is a good deal," said board member Mark Wise.

Members of the TVSC board are: president Rod Eaton, vice president Mark Wise, secretary Tom Weaver, Hal Hoffman and Dave O'Brien. [[In-content Ad]]