MENTONE - Only two members of the public showed up for the budget hearing for Tippecanoe Valley Schools Monday night.
Along with the budget hearing, however, the school board also approved the 2007-08 master teacher contract.
Superintendent Dr. Daniel Kramer said the budget was advertised in two local newspapers, including the Times-Union, on Aug. 14 and 21. The 2008 budget is calculated based on 85 percent of the certified 2006 assessed valuation. While Valley recently received the assessed valuation for the school corporation's 2007 budget, Kramer said they still have not received it for 2008. Once the assessed valuation is determined, and if it increases, the tax rates should decrease.
At the Sept. 10 regular school board meeting, the school board is expected to approve the 2008 budget.
The 2008 budget includes the general fund at $14,634,275, with a tax rate of $1.0309; debt service fund, $3,003,794, with a tax rate estimated at $0.7875; transportation fund, $1,318,800, with a tax rate projected at $0.3427; capital projects fund, $1,999,699, with a tax rate at $0.5203; bus replacement fund, $166,000, with a tax rate of $0.0550; and the preschool fund, $68,750, with a tax rate estimated at $0.0052.
The total estimated 2008 budget is approximately $21,191,318. The total budget tax levy at 85 percent of the 2006 assessed valuation for 2008 is $2.7416.
Before the school board approved the master teacher contract, Kramer said the teachers ratified the tentative contract on the first day of school, Aug. 16.
The contract includes a 2-1/2-percent increase for teachers across the board, a freeze on the extracurricular salaries and an increase of $50 in teachers' 401(3)(b) contributions.
Tippecanoe Valley School Corp. is self-insured. Under the new master teacher contract, insurance premiums will increase. For a single teacher, the premium will increase $350 to $1,499, while the family premium will increase $475 to $3,128. Currently, Valley also offers an "employee plus one" premium that will be phased out within the next four years. That premium will increase $625 to $2,728 for the 2007-08 school year.
The board also approved the hiring of Whitney Bradley, instructional assistant at Tippecanoe Valley High School; Irene Charles, evening custodian, middle school; Toni Gillman, migrant education; Aubrey Sponseller, instructional assistant, Mentone; Christine Tinkey, media assistant, TVHS; Jocelyn Walters, instructional assistant, Mentone; Troy Eaton, assistant football coach, TVMS; and Rachel Parker, sixth-grade volleyball coach, TVMS.
The final item on the agenda was the approval of a notice to taxpayers of additional appropriations.
By law, the board is required to advertise and approve all additional appropriations. Additional appropriations occur when specific funding is received for which there is no appropriation established. For the funding to be used, it first must be appropriated.
Each year, Valley receives professional development funds from the state to implement its goals established in its school improvement plan. In the spring of 2007, Valley received $15,167. Another $12,000 is expected for this fall. The additional appropriation to be advertised is for the full $27,167. The board approved the advertising.
School board members present Monday were Mark Wise, Hal Hoffman, Dave O'Brien and Rod Eaton. Bryan Murphy was absent.
