Valley Workshops $22.9M Budget
July 28, 2016 at 4:25 p.m.
By David [email protected]
The board approved advertising the 2015 budget, with the total advertised budget for all five funds at $22,956,612.
The largest of the five funds is the general fund, which will be advertised at $15,991,280. The other funds include debt service at $2,632,170; capital projects, $2,406,874; transportation, $1,649,288; and bus replacement fund at $277,000.
The public hearing for the budget will be Sept. 22 at 7 p.m. at the administration office, Akron. The adoption meeting will be Oct. 13 at 6:30 p.m. at Mentone Elementary School.
Superintendent Brett Boggs said the budget process began in April. A capital projects fund workshop was in June, and they met with the Indiana Department of Local Government Finance representative Aug. 11. Valley’s proposed budget will be delivered to the newspapers today for advertising.
On Sept. 2, the budget will be submitted to the county council for review. He said it was hoped the budget would be certified by the DLGF in December as in recent years.
The general fund is state-supported. Boggs said it has not been supported by local property taxes since 2009.
“We’re not going to spend more than we’re authorized to spend. That’s a commitment we’ve made to the board and to the public for years,” Boggs said.
Funding for the general fund for the most part is based on student enrollment. Official student counts are taken in September and February.
He reminded the board that if the state doesn’t have all the funding for schools, they won’t get it either. That’s affected schools in the past.
The debt service fund is used to pay down debt from major projects. It can be used for items like bonds or lease rental, technology or interest on any other fund. The fund is need-driven and paid for by a property tax levy.
In 1987 the Indiana General Assembly established the CPF. Each year school corporations are required to develop and publish a three-year plan. The fund can be used for land acquisition, building acquisition, building improvements, etc. Boggs said Valley primarily uses CPF for building remodeling and technology. They also can use some of it for utilities and insurance.
Boggs told the board that since they last met in June, three changes were made to the CPF for 2015. He said $15,000 was added for the Burket School play area; $3,000 was added for the chiller at Tippecanoe Valley High School; and $20,000 was added for the TVHS soccer fields.
The levy-driven transportation fund can be used for transportation employee pay, fuel, parts, supplies, etc. The maximum of the fund is determined by the state, and there is no state support for it as it all comes from local taxes.
The bus replacement fund is used exclusively for bus replacement, Boggs said. The maximum for school corporations was established by the state in 2002.
“We have our own cycle to replace buses over a 16-year period,” Boggs said. “The state requires us to submit a plan for the next 12 years.”
Valley purchased two buses in 2014, and plans to purchase three in 2015.
Once the budget figures are advertised, Boggs said they can always be decreased but never increased. Valley always advertises higher than what it anticipates receiving, he said, so it gets its maximum share of funding.
The notice to taxpayers will be advertised in the newspapers and online at www.budgetnotices.in.gov this year. Next year, Boggs said it no longer has to be published in newspapers, just online.
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The board approved advertising the 2015 budget, with the total advertised budget for all five funds at $22,956,612.
The largest of the five funds is the general fund, which will be advertised at $15,991,280. The other funds include debt service at $2,632,170; capital projects, $2,406,874; transportation, $1,649,288; and bus replacement fund at $277,000.
The public hearing for the budget will be Sept. 22 at 7 p.m. at the administration office, Akron. The adoption meeting will be Oct. 13 at 6:30 p.m. at Mentone Elementary School.
Superintendent Brett Boggs said the budget process began in April. A capital projects fund workshop was in June, and they met with the Indiana Department of Local Government Finance representative Aug. 11. Valley’s proposed budget will be delivered to the newspapers today for advertising.
On Sept. 2, the budget will be submitted to the county council for review. He said it was hoped the budget would be certified by the DLGF in December as in recent years.
The general fund is state-supported. Boggs said it has not been supported by local property taxes since 2009.
“We’re not going to spend more than we’re authorized to spend. That’s a commitment we’ve made to the board and to the public for years,” Boggs said.
Funding for the general fund for the most part is based on student enrollment. Official student counts are taken in September and February.
He reminded the board that if the state doesn’t have all the funding for schools, they won’t get it either. That’s affected schools in the past.
The debt service fund is used to pay down debt from major projects. It can be used for items like bonds or lease rental, technology or interest on any other fund. The fund is need-driven and paid for by a property tax levy.
In 1987 the Indiana General Assembly established the CPF. Each year school corporations are required to develop and publish a three-year plan. The fund can be used for land acquisition, building acquisition, building improvements, etc. Boggs said Valley primarily uses CPF for building remodeling and technology. They also can use some of it for utilities and insurance.
Boggs told the board that since they last met in June, three changes were made to the CPF for 2015. He said $15,000 was added for the Burket School play area; $3,000 was added for the chiller at Tippecanoe Valley High School; and $20,000 was added for the TVHS soccer fields.
The levy-driven transportation fund can be used for transportation employee pay, fuel, parts, supplies, etc. The maximum of the fund is determined by the state, and there is no state support for it as it all comes from local taxes.
The bus replacement fund is used exclusively for bus replacement, Boggs said. The maximum for school corporations was established by the state in 2002.
“We have our own cycle to replace buses over a 16-year period,” Boggs said. “The state requires us to submit a plan for the next 12 years.”
Valley purchased two buses in 2014, and plans to purchase three in 2015.
Once the budget figures are advertised, Boggs said they can always be decreased but never increased. Valley always advertises higher than what it anticipates receiving, he said, so it gets its maximum share of funding.
The notice to taxpayers will be advertised in the newspapers and online at www.budgetnotices.in.gov this year. Next year, Boggs said it no longer has to be published in newspapers, just online.
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