April 4, 2018 at 5:30 p.m.
School budget drops $241k from current level
But how that change might affect residents' property taxes will remain unknown until the Bartholomew County Auditor's Office establishes whether and by how much the area's assessed valuation has changed.
A public hearing on the proposed budget will be Oct. 6, and adoption will follow on Oct. 20. Both actions will be part of regular school board meetings 7 p.m. at the FRHC Central Office board room, 9423 N. State Road 9.
Jeff Cleland, business manager for the Flat Rock-Hawcreek School Corp., said a rare jump in the area's taxable properties last year saw assessed values rise from $197 million to $209 million, a difference of nearly $12 million. He said the values may have fallen a little since then, possibly leading to an uptick in taxes.
He expects to know more next week.
In the meantime, school corporation officials have sought to mitigate the impact of lower AV by proposing to spend $8.73 million in 2016. That's nearly a quarter of a million dollars less than this year's budget, approved at $8.97 million.
Each fund within the overall budget tells the tale. Debt service costs are proposed to drop by $51,968, capital project costs by $72,100, transportation costs by $11,900 and bus replacement expenditures by $4,820, reports show. The General Fund, used for teacher salaries and benefits, is funded entirely by the state and thus not supported by taxpayer dollars. That fund is expected to drop by $319,571.
Debt service payments on the school expansion of 2010 are non-negotiable and will remain at $1.52 million this year, Cleland said. The last payment is expected to be made in 2029, when the expansion debt is paid in full.
Cleland said he always advertises budgets on the liberal end, because, according to state law, expenses can only be cut once the budget is adopted. People can see the specific numbers at budgetnotices.in.gov.[[In-content Ad]]
