Taxpayers will have the opportunity to ask questions, share concerns and learn more about Seymour Community School Corp.’s proposed 2018 budget during a meeting tonight.
The public hearing, part of the annual budgeting process, begins at 7 p.m. at the central administration office at 1638 S. Walnut St.
Corporation business manager Steve Nauman will give a presentation on the budget along with the district’s capital projects plan through 2020 and school bus replacement plan through 2029.
Nauman said next year’s budget is nearly the same as this year’s.
“There are no major changes with the 2018 budget, compared to the 2017 budget,” he said. “We only plan to increase our levies in the funds the state recommends raising.”
That includes the transportation and bus replacement funds, he said.
The corporation is seeking its maximum levy of $1,558,604 for transportation and $393,944 for bus replacement.
Overall, the 2018 budget is estimated at $47,489,394 with a maximum of $11,273,995 to be raised in local property taxes. This year, the tax levy is $9,717,402.
The general fund is being advertised at $32,547,234, but that fund receives no local property tax support. Funding comes from the state and is based on student enrollment.
Debt service for 2018 is estimated to be $4,193,696; school pension, $304,857; capital projects, $5.5 million; transportation, $2,000,276; and bus replacement, $543,331.
Nauman doesn’t expect the district’s overall tax rate to increase in 2018.
Tax rates depend on the assessed value of the taxing district. If that value increases, the rate drops and vice versa. The current tax rate is 74.88 cents per $100 of taxable property.
“We do not anticipate taxes to go up unless (Seymour’s) assessed value would drop,” he said. “We anticipate our total tax rate to stay the same.”
After the presentation, people can ask questions and make comments and suggestions.
Budget adoption will take place during the Oct. 10 meeting.
Nauman said the budgeting process will be different next year because of statewide changes.
“This is the last year for the current taxing system,” he said. “Everything will change drastically in 2019 due to new legislation.”
On Jan. 1, 2019, school corporations will have to eliminate their general and capital project funds and replace them with an education fund, dedicated to paying for student instruction, and an operation funds.
Seymour Community School Corp. proposed 2018 budget
Fund;Budget estimate;Maximum estimated funds to be raised;Current tax levy
School pension debt;$304,857;$286,590;$276,416
What: Public hearing on Seymour Community School Corp.’s proposed 2018 budget
When: 7 p.m. today
Where: Central administration office, 1638 S. Walnut St., Seymour
Who: Open to the public and press