Wawasee School Board Discusses 2009 Budget
July 28, 2016 at 4:25 p.m.
By -
Included in discussion was the budget, capital projects fund and bus replacement plan.
These plans were advertised Aug. 6 and 13. On Aug. 19, a public hearing was held. The budget included:
General fund:
$23,948,028
Debt service fund:
$6,745,120
Retirement/severance bond debt service fund:
$744,989
Capital Projects fund:
$9,387,500
School transportation fund:
$2,594,621
School bus replacement fund:
$520,000
Special Ed Preschool fund:
$96,250
Rainy Day fund:
$3,500,000
Total appropriations, all funds:
$47,536,508
The board adopted a resolution to authorize reductions. This gives the treasurer the authority to reduce appropriations from the 2008 budget to help achieve a balanced budget for 2009.
The resolution further authorizes the treasurer, at his discretion, to reduce the operating balance of the debt service fund to a level that can reduce the tax rate while maintaining needed cash balances by the end of the year to ensure payment of all debts.
The board approved the budget resolution, along with the resolution to authorize reductions.
The board approved a tax neutrality resolution. The school corporation is required under Indiana code and public law to reduce the levy of one or more of its funds in 2009 by an amount equal to the levy for debt service on its taxable general obligation pension bond of 2003. Therefore, the maximum levy for capital projects fund, bus replacement or general fund for the year 2009 will be reduced by the amount of the levy for its debt service fund allocated to general obligation bonds of 2003.
In other financial matters, the school corporation adopted a resolution that updates its 403(b) plan. This is a payroll deduction investment plan that enables employees to purchase tax sheltered annuities and custodial accounts from various sources. The updates to the 403(b) are mandated by new Internal Revenue Service regulations.
The financial report for the school corporation for the month ending Aug. 31 is as follows:
Beginning balance:
$18,307,132.19
Receipts:
$1,614,343.71
Disbursements:
$2,462,315.88
End balance:
$17,459,160.02
The board accepted a donation of $8,000 from the North Webster Elementary Parent Teacher and Friend Organization.
The first reading of a new policy regarding the criteria for accepting cash transfer students was presented by Superintendent Dr. Tom Edington. A transfer student is one whose legal settlement is not within the boundaries of the Wawasee Community School Corp.
Under these new guidelines (as offered in a first reading):
A student requesting transfer must complete the Application for Transfer of Non-resident Student and submit it to the Wawasee Community School Corp. superintendent's office prior to July 1. Transfers will be considered on a yearly basis.
A student requesting transfer to either the middle school or the high school must write a one-page letter indicating why they want to transfer. Parents of an elementary school-age child must write a one-page letter indicating why they are requesting the transfer.
The transfer request and letter will be reviewed by the applicable administrative team.
Following the review of the written documentation, an interview will be scheduled with the student and the parent.
Once the interview has been conducted, a recommendation will be developed by the administration as to whether or not to accept the transfer student.
The administrative team will forward their recommendation to the superintendent.
The application may be rejected by the administrative team or the superintendent. If this occurs, the applicant will be notified.
Once the superintendent makes the final determination, the legal guardian will be notified.
Wawasee Community School Corp. will not discriminate on the basis of race, color, religion, sex, national origin, age, or handicapping condition, including limited English proficiency, in its educational programs or employment policies as required by state and federal laws.
It is also noted that under no circumstances will a transfer student be accepted for athletic reasons.
In other business:
n Edington thanked the individuals, companies, and organizations for all the help they provided in getting the new soccer team shelters ready at Wawasee High School.
n A $2,500 professional grant from the Indiana Department of Education was awarded to the school's technical staff for training.[[In-content Ad]]
Included in discussion was the budget, capital projects fund and bus replacement plan.
These plans were advertised Aug. 6 and 13. On Aug. 19, a public hearing was held. The budget included:
General fund:
$23,948,028
Debt service fund:
$6,745,120
Retirement/severance bond debt service fund:
$744,989
Capital Projects fund:
$9,387,500
School transportation fund:
$2,594,621
School bus replacement fund:
$520,000
Special Ed Preschool fund:
$96,250
Rainy Day fund:
$3,500,000
Total appropriations, all funds:
$47,536,508
The board adopted a resolution to authorize reductions. This gives the treasurer the authority to reduce appropriations from the 2008 budget to help achieve a balanced budget for 2009.
The resolution further authorizes the treasurer, at his discretion, to reduce the operating balance of the debt service fund to a level that can reduce the tax rate while maintaining needed cash balances by the end of the year to ensure payment of all debts.
The board approved the budget resolution, along with the resolution to authorize reductions.
The board approved a tax neutrality resolution. The school corporation is required under Indiana code and public law to reduce the levy of one or more of its funds in 2009 by an amount equal to the levy for debt service on its taxable general obligation pension bond of 2003. Therefore, the maximum levy for capital projects fund, bus replacement or general fund for the year 2009 will be reduced by the amount of the levy for its debt service fund allocated to general obligation bonds of 2003.
In other financial matters, the school corporation adopted a resolution that updates its 403(b) plan. This is a payroll deduction investment plan that enables employees to purchase tax sheltered annuities and custodial accounts from various sources. The updates to the 403(b) are mandated by new Internal Revenue Service regulations.
The financial report for the school corporation for the month ending Aug. 31 is as follows:
Beginning balance:
$18,307,132.19
Receipts:
$1,614,343.71
Disbursements:
$2,462,315.88
End balance:
$17,459,160.02
The board accepted a donation of $8,000 from the North Webster Elementary Parent Teacher and Friend Organization.
The first reading of a new policy regarding the criteria for accepting cash transfer students was presented by Superintendent Dr. Tom Edington. A transfer student is one whose legal settlement is not within the boundaries of the Wawasee Community School Corp.
Under these new guidelines (as offered in a first reading):
A student requesting transfer must complete the Application for Transfer of Non-resident Student and submit it to the Wawasee Community School Corp. superintendent's office prior to July 1. Transfers will be considered on a yearly basis.
A student requesting transfer to either the middle school or the high school must write a one-page letter indicating why they want to transfer. Parents of an elementary school-age child must write a one-page letter indicating why they are requesting the transfer.
The transfer request and letter will be reviewed by the applicable administrative team.
Following the review of the written documentation, an interview will be scheduled with the student and the parent.
Once the interview has been conducted, a recommendation will be developed by the administration as to whether or not to accept the transfer student.
The administrative team will forward their recommendation to the superintendent.
The application may be rejected by the administrative team or the superintendent. If this occurs, the applicant will be notified.
Once the superintendent makes the final determination, the legal guardian will be notified.
Wawasee Community School Corp. will not discriminate on the basis of race, color, religion, sex, national origin, age, or handicapping condition, including limited English proficiency, in its educational programs or employment policies as required by state and federal laws.
It is also noted that under no circumstances will a transfer student be accepted for athletic reasons.
In other business:
n Edington thanked the individuals, companies, and organizations for all the help they provided in getting the new soccer team shelters ready at Wawasee High School.
n A $2,500 professional grant from the Indiana Department of Education was awarded to the school's technical staff for training.[[In-content Ad]]
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