The Culver Community School Board members opened a public hearing Monday night concerning the proposed 2024 budget, Capital Projects Plan, and Bus Replacement Plan.
Treasurer/Business Manager Casey Howard went over all of the budget information.
According to the information posted on the Indiana Gateway website, the total budget is $17,692,271. The Referendum Fund is at $2.6 million, the Rainy Day Fund is at $400,000, the Debt Service Fund is about $2.2 million, the Education Fund at $7.3 million and the Operations Fund at about $5 million.
Howard said, among other revenues and other necessary figures to be included in the proposed 2024 budget, she based the budget upon the enrollment of 796 students at $6,590 per student which is $355 more than last school year. The official Average Daily Membership (ADM) count is not conducted until October. The funding will be adjusted when that count is determined.
Howard noted that there is a five percent increase in this year’s budget compared to last year. Special Education funding will increase slightly in the next year’s budget.
The estimated tax rate is .9986, but will be officially determined by the Department of Local Government Finance.
In the corporation’s Bus Replacement Plan, three buses will be replaced in 2024, with two buses to be replaced in years 2025-2027 and three buses in 2028.
Several items are listed in the proposed Capital Projects Plan. All proposed capital expenditures over $10,000 in the next three years are listed in the plan, which include infrastructure, classroom, and building and facility needs.
There were no other comments made during the public hearing.
Following the public hearing, the board unanimously approved resolutions that adopt the Capital Projects Plan and the Bus Replacement Plan. The board plans to formally adopt the proposed 2024 budget Monday, October 9 at 7 p.m. ET at the Culver Administration Building at 700 School Street.
The board will receive notice from the Department of Local Government Finance in December on the approval of the budget.
