AKRON – After reviewing the preliminary figures for the 2013 budget, the Tippecanoe Valley School Board Thursday approved to advertise the corporation’s numbers as presented. The total 2012 advertised budget was $21,990,723. The 2013 budget to be advertised is $22,421,594. The budget includes five separate funds, including debt service, capital projects, transportation, general and bus replacement. According to Assistant Superintendent Dr. Dan Kramer, the debt service fund pays the obligations of the corporation and is a need-driven fund. The monies come from the property tax levy, excise and local option taxes. The debt service fund budget for 2013 will be advertised at $3,002,967. For the capital projects fund, school corporations have to have a three-year plan. The first year has to become part of the budget. The fund can pay for items such as remodeling, technology expenses, some utilities and insurance. Kramer said the state limits corporations on how much of the fund can be used toward utilities and insurance, however. It is a need-driven fund that schools receive from property, excise and similar taxes. The CPF will be advertised at $2,194,624 for 2013. The transportation fund pays for operation costs associated with transportation such as bus drivers, mechanics, garage employees, etc. Total for the fund will be advertised as $1,585,543. The bus replacement fund is solely to replace school buses as needed. It has a maximum levy on it. Kramer said Valley has a cycle in place to replace buses that is reviewed each year. Some years Valley replaces two buses, some years three buses. The state requires school corporations to have a 12-year replacement plan, but Valley has a 16-year plan. For 2013, the advertised total for the bus replacement fund will be $285,000. The largest fund for school corporations is the general fund. It covers the costs of day-to-day operations, Kramer said. State of Indiana supports the fund, and the fund is no longer derived from property taxes, but school corporations must still complete the forms for its budget. “We’re not going to spend any more revenue than we receive,” Kramer said. Total to be advertised for the general fund for 2013 is $15,353,460. Difficulties with preparing the budget now for next year, Kramer said, is just the timing of it. “We don’t know what the budget will be in 2013 until this is approved next year,” he said, and enrollment figures during the 2012-13 school year also will affect Valley’s budget. If the state’s revenue figures aren’t what they forecasted next year, that also will affect schools, he said. A public hearing on the budget will be at 7:30 p.m. Aug. 30, with the adoption of the 2013 budget scheduled for 7:30 p.m. Sept. 10. Both meetings will be at Mentone Elementary School.
