Continuously serving Kosciusko County since 1854
MENTONE - In a workshop Wednesday night, the Tippecanoe Valley School Corp. Board of Trustees reviewed the proposed 2007 budget.
Superintendent Dr. Daniel Kramer presented the figures, which were approved to be advertised by the board in the newspaper Aug. 8 and 15. A public hearing on the 2007 budget is set for Aug. 24 at Mentone Elementary School in the board meeting room.
The budget was figured at 80 percent of the current assessed valuation. Kramer said Kosciusko County Auditor Sue Ann Mitchell recommended the budgets be figured at the 80 percent figure for purposes of advertisement. "As you recall," Kramer told the board members, "we have done that in the past."
With the budget figured on a lower assessed valuation, the tax rates will be advertised at a higher rate, but will generate the same dollars. Once the assessed valuation is known 100 percent, the rate can be lowered, but still generate the same dollars for the school corporation.
The budget includes six funds. The preschool fund will be advertised for 2007 as $68,750; debt service, $2,984,345; capital projects fund, $2,018,149; transportation fund, $1,285,811; bus replacement fund, $218,541; and general fund, $14,083,251.
The bus replacement fund includes the replacement of three buses in 2007.
For the overall budget, Kramer said an effort is made to not spend more than what Valley takes in as revenue. If they do, "we're eating into our cash balance. That has not been an issue for us."
In another matter, the school board approved a 2006 summer school contract for Lee Ann Rock. Summer school for elementary school students started this week and Rock's contract was not previously approved.
School board members present Wednesday included President Dave O'Brien, Vice President Bryan Murphy, Secretary Rod Eaton and Mark Wise. Hal Hoffman was absent.
