TVSC Workshop Held On Capital Project Fund
Board members of the Tippecanoe Valley School Corp., received a preliminary look at the 2016 three-year Capital Projects Fund Monday evening.
During the almost two-hour meeting, board members heard from Keith Lang, technology director, and Todd Glenn, maintenance director, who provided detailed explanations of their respective CPF funds.
The final line: The 2016 CPF preliminary draft is seeking $2,570,984. The anticipated tax rate for this fund is 27.5 cents, down from the current rate of 28.55 cents. This is due to an increase in the school corporation’s assessed valuation. The rate is based on $529,559,816 assessed value.
Brett Boggs, superintendent, provided the board with a background of the capital projects fund: when it was established, it must be a three-year plan, conduct a public hearing, publish a notice and allow taxpayers the right to file a petition. He also explained the CPF’s use, that it is primarily for building remodeling; specific maintenance projects, purchase, lease and repair of equipment, technology, utilities and insurance, certain staff services, certain emergencies and funds for future projects.
He noted there are budget items building specific, for transportation, and administration and that the tax rate is capped by the state. Revenue for the fund is through property tax, excise tax, commercial vehicle excise tax, financial institutions tax and local option income tax.
The workshop primarily focused on the 2016 CPF as the 2017 and 2018 plans are expected to change.
Annual items, insurance, utilities, included in the CPF total $413,474; emergency allocations total $650,000; funds for annual expenditures such as copy machine maintenance, building maintenance, software, etc. total $784,350, non-annual expenditures total $723,160, and technology $978,000.
Regarding technology, Boggs stated the school has a four-year refresh program on technology for schools. One school is given $125,000 a year to use to refresh technology in the building. For 2016 it will be Tippecanoe Valley Middle School.
Funds for maintenance include setting money aside to replace the roof at Mentone in a few years, a cost expected to be $60,000. The fund will accumulate $20,000 per year. Funds are also being set aside in anticipation of heating/cooling, energy management at TVMS, which is now 20 years old.
Board members also heard from Blaine Conley, transportation, on bus replacement projections and the school bus replacement plan
Board members were updated on projects underway. Lighting is being updated at Mentone School, with installation of LED lights; parking lots at four locations are being refurbished, the high school gymnasium ceiling has been cleaned and painted, a classroom at TVMS is being converted for Project Lead The Way and work continues on the new soccer field.
Information was also relayed regarding the July 15 Day of Action by United Way of Kosciusko County in which volunteers will work in five different buildings to paint restrooms, hallways and classes.
An executive session followed in relation to collective bargaining.
The next regular meeting of the board will be at 6 p.m. July 13, in the administration office.