TIPPECANOE VALLEY CPF NOTICE OF ADOPTION

Posted Tuesday, October 10, 2017 2:27 pm

NOTICE OF ADOPTION

   Notice is hereby given to taxpayers of Tippecanoe Valley School Corporation that the proper officers of Tippecanoe Valley School Corporation have established a Capital Projects Fund and adopted a plan under IC 20-46-6-5.                             Ten or more taxpayers in the school corporation who will be affected by the plan may file a petition with the County Auditor of Kosciusko or Fulton County, not later than ten (10) days after the publication of this notice, setting forth their objections to the plan. Upon filing of the petition, the County Auditor shall immediately certify the same to the Department of Local Government Finance. The Department will then fix a date and conduct a public hearing on the plan before issuing its approval, disapproval, or modification thereof.                           The following is a general outline of the adopted plan:

EXPENDITURES:   Dept   2018   2019   2020

1)   Land Acquisition and Development   4100

2)   Professional Services   4300

3)   Education Specifications Development   4400

4)   Building Acquisition, Construction

   and Improvement   4510, 4520, 4530   247,500   252,700   233,500

5)   Rental of Buildings, Facilities and Equipment   4550

6)   Purchase of Mobile or Fixed Equipment   4700   321,500   145,000   150,000

7)   Emergency Allocation   4900   650,000   700,000   700,000

8)   Utilities   2620   310,000   310,000   310,000

9)   Maintenance of Equipment   2640   146,100   138,600   135,600

10) Sports Facility   4540   65,000   85,000   42,500

11) Property or Casualty Insurance   2670   103,474   103,474   103,474

12) Other Operation and Maintenance of Plant   2680

13) Technology                           Instruction-Related Technology   2230                       Admin Tech Services   2580   688,150   907,175   683,000

SUBTOTAL CURRENT EXPENDITURES       2,531,724   2,641,949   2,358,074

14) Allocation for Future Projects       600,000   600,000   650,000

15) Transfer From One Fund to Another   6010

TOTAL EXPENDITURES, ALLOCATIONS AND TRANSFERS       3,131,724   3,241,949   3,008,074

SOURCES AND ESTIMATES OF REVENUE                       1)   Projected January 1 Cash Balance       675,774   550,000   600,000

2)   Less: Encumbrances Carried Forward from Previous Year

3)   Estimated Cash Balance Available

   for Plan (Line 1 minus Line 2)       675,774   550,000   600,000

4)   Property Tax Revenue       2,424,415   2,661,949   2,373,074

5)   Estimated Property Tax Cap Credits (show as a negative)   (62,215)   (65,000)   (65,000)

6)   Auto Excise, CVET and FIT receipts       93,750   95,000   100,000

7)   Other Revenue                       TOTAL FUNDS AVAILABLE FOR PLAN (Add lines 3, 4, 5 and 6)   3,131,724    3,241,949   3,008,074

   This notice contains future allocations for the following projects:                   Project - Location       2018   2019   2020

Parking - Tippecanoe Valley High School       600,000   650,000   650,000

Future allocations as specified above are subject to objections during the period stated in this Notice of Adoption.                       **********************************************************************************************************           TO BE PUBLISHED IN YEARS AFTER THE FIRST YEAR                           This notice contains future allocations for the following projects, which have previously been subject to taxpayer objections.                       Project - Location       2015   2016   2017

Parking - Tippecanoe Valley High School       550,000   550,000   600,000

   Future allocations as specified above are not subject to objections during the period stated in this Notice of Adoption because they have previously been advertised and subject to objection.           10-13 hspaxlp

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