001I could start. Okay. All right. Good evening. Thank you for everyone for joining us tonight. Um we are going to start with the pledge of >> allegiance to the flag of the United States of America and to the republic it stands one nation under God indivisibley for all. >> And now a moment of silence. Thank you. Um before we get started, um Dr. Forgi would like to say a few words. >> I'd first like to thank all you guys for sending me nice notes this week. Uh my bicycle ejected me this week and I ended up with a with a some a new fashion statement. Uh so I thank everybody that sent me little notes. Now for all of you guys sitting out there in the crowd, okay? And and it's really more for you
002adults than this for children because in the last four days of me walking around 12 bike riders have gone by me and only and only two of them had helmets on. They were all adults. Okay. So you adults, I probably would have a fractured skull if uh I hadn't had my helmet on. I broke my neck as it as it was. I broke C5 and I'm all fine. Everything's good. I'm all good. And for you children, this is you know, we're in an educational setting. This is an educational moment. Do not get on that bike without your helmet on. I was riding a grandpa bike with great big fat tires and still fell off of it. Okay. And I like to think I'm a finely tuned athlete. All right. But it it'll jump up and
003bite you. So you children all wear your hel helmets and make sure your mom and dad because they're the stubborn ones. Okay. Make sure your mom and dad put your helmets on. So thank all of you for reaching out tonight. I'll be all better in a month. I hope. >> Okay. >> Can we just one thing? Can we take a moment and recognize the bow tie he's got on? >> Right. Right. >> Thank you. >> Okay. All right. Uh, Dr. Hy. >> Yes, Dr. Forgi still has to make sure he maintains that good-looking board member appearance tonight. So, very good A+ for the bows high. Hey, so at this time, can I have all of my student advisory students from this past year please come up and join me right up front? You knew you
004were coming up here. Come on up. [Applause] All right. Well, while they're getting situated, I know that most of our guests tonight already know a lot of what I'm going to say, but I'm going to say it anyway for those who may not know. And just to reiterate, so a year or so ago, um I had an idea that I really wanted to put together a group of students to meet with me periodically just to help me better keep a pulse on what our students are thinking and experiencing every day at Noblesville schools. Um you know, we talk a lot about all the things that the adults do and these meetings that we have every month are very adult focused on big decisions we make. But it but I don't want us to ever lose
005sight of the fact that the decisions we're making are in service to the children that we serve. And so it's it's been a priority and an exciting thing um to do. So this is this is a portion not every student of course some folks some families had plans over the summer and couldn't be here tonight but this is quite a few of my students that I had such a pleasure to get to meet with um every few months this year and they did a great job. So just give you some examples of some of the things we did. Um we met four times throughout the year and the first um the first time we kind of talked about here in the office about you know how does the district operate and what are some of
006the things that that it takes to run such a large district. The second meeting, I think the students, and you can nod or disagree, I think might have been the most popular for most folks because that was when food service came and we did a little taste testing. And the fun thing about that was seeing the students a month or so later in their schools when they actually saw the decisions they made that day come to life when those things came and were served in their cafeteria. So, that was a lot of fun. And we also explored other topics about, you know, looking out for each other and and, you know, just things that we appreciate about our schools. So, um, it was a great year. It really was. Um, I I felt so blessed
007to have so much time with these students and getting to know them. Um, I'm already looking forward to next year. Some of these students are returning, some of these students are not. Um, we also want to keep it fresh and give other students a chance to serve as as they get older. So, I just want to say personally such a huge thank you um to all the students who served. I I really enjoyed our time and I'm excited for you guys uh to come back to school here in just a week. So, congratulations. Thank you so much. So, before you move, we'll pause right there. Students, you want to face forward. I know lots of folks just took a picture. Does anybody still need to get a picture while I have them smiling for you
008right now? Here's your chance. It's done. Still almost. Okay, I think that's it. So students, really quick before you go, if you would come by. I know the board would love to shake your hand. >> What was your favorite? Did they show up at your show on your meals? >> So, guests who are here with those students, obviously, Mrs. Cook is uh shoeing them out that way. If you want to meet them, she has a little something for each of them. And then um as I said, you are certainly welcome to stay for the meeting, but we will not be offended if you don't. So, good to see you. Have a have a great rest of the summer, and we'll see everybody very soon. >> Yes. All right. Um recognitions. >> Okay, we have one
009additional recognition this evening. So, I'm going to invite uh Dr. Rich up to speak to us for just a few minutes. >> All right. Good evening. I really wish we would have flipped the recognition around because I am so proud of our STEM program here in Noblesville schools. So that's okay. Um I know we have some of our amazing uh STEM teachers out in the audience. If you guys would come on up real quickly to the front, please, and just um stand in front of the board, that would be great. Thank you guys for being here tonight. >> Yes, we have Mr. Wilkins from the high school, Mr. Asus from West Middle School. Do we have any other of our STEM teachers? All right. So, um you guys are going to get all of the
010recognition tonight representing all 10 schools across the district. Um we we are really proud of our STEM program. Um otherwise known as Project Lead the Way. We offer that program across all 10 of our districts. Um each year Project Lead the Way issues a distinguished school award. Um, every one of our schools was again recognized with that award this year. Um, and also we received the district distinct distinction award as well. Um, we are one of only eight school districts in Indiana that received that designation. And then we are also only one of 27 across the country that received that designation. Um there's some really rigorous criteria that have to be met for schools and districts to receive this designation in terms of offering these opportunities to our students and also um levels of participation.
011Um and in our elementary schools and in our middle school, Project Lead the Way is a part of our core program. And so, um, almost all students really receive those experiences from kindergarten all the way through grade eight, which is pretty spectacular. And that has really helped us to grow our high school program as well. Um, I just checked in with the high school today. As of today, for this coming school year, we have 700 unique enrollments in Project Lead the Way across biomedical sciences and also engineering. So really excited about that, especially given we're about to uh open our new wing, our new STEM center there at the high school. So um there's lots to be proud of when it comes to the types of skills that students are learning and the types of
012critical thinking that they're engaging in through these courses. And uh we couldn't do it without our amazing STEM educators. They do a phenomenal job and um really want to recognize them. So, thank you all for what you do. >> Looks like you have some students saying hi. >> Thank you for Thank you guys. All right, moving on to reports. Um, last year, um, the strategic plan was completed and, um, at every board meeting, we, um, someone reports on one of our pillars, our goals, and this month we have David Hoiller, CFO, that will be presenting. Yeah, thank you Madam President. Um, so as you mentioned uh tonight I'll be giving an update uh in accordance with the strategic plan specific to the pillar of strategic capital and resource uh management. Uh so I came first
013in uh January and so we felt like January is always a good time to to talk about finances with year end and then also in July as we prep for the budget. Uh and then uh with budget preparation uh soon upon us uh tonight as it relates to our uh commitment statement, I'll actually be focusing a little bit more on the fiscal responsibility as opposed to the operational and strategic uh facilities planning aspect of the plan. When it comes to the strategies, uh it's going to be related mostly to the budget. As I mentioned, budget season is essentially upon us. Uh not so much on the expense side, but more on the annual revenue side. So specifically tonight, I'll be giving an overview of Senate Bill One or Senate Enrolled Act One. uh that uh
014essentially overhauled property taxes as we know them in Indiana. Uh by doing so, we also feel like this will promote wider education as well as transparency regarding how the public funds uh again not so much are are used but how they are sourced. Right? So that property tax being a source of revenue uh talking about how that is sourced into our budget. But before I get into that fund, uh I want to mention the fact that uh since last time I I gave an update as it relates to transparency and education, uh Dr. Dr. Hile's vision really was able to come to life with a lot of the great work by uh Marne to to get dollars and cents released. And I know you guys have all had an opportunity to hopefully check this out
015on our website and talking with Marne tonight. I think that there's going to be some additional uh um um emphasis on the release of this on our on our website to the community so that that way again our community can really go on to the website and and see some of the the aspects of Nov Novasville School's finance. So with that, let's go right into Senate Enrolled Act One. Um what as we know Senate enrolled act one uh had a lot of complexities and as I mentioned earlier it was essentially an overhaul of the property tax system uh as we know it in Indiana. And what I mean by that is uh really for the most part summed up in this chart right here which I think some of you guys have already seen. Uh
016but the goal tonight is to talk about this really at a high level. Uh and then ultimately at the very end uh really just get down to a number because when it comes down to it I think that's what everyone really wants to hear is what is that number? what is the amount of property tax revenue that we would likely see as a as a difference uh based on this legislation uh in into our budget. Uh but before we get to that final number at the end, I want to again try to break this down at a at a high level first. And so as it relates to this chart, I went ahead and and emphasized two uh critical pieces uh by way of the yellow dots and the red dots. So uh the first
017thing that the legislature did uh in this overhaul is they uh took a look at our taxable assessed value. So um the the dots that are in yellow represent items or deductions uh that ultimately bring down our taxable assessed value. So they took a look at our taxable assessed value and they uh instituted changes related to our deductions to ultimately uh lower our taxable assessed value. Uh so again by way of the deductions and then ultimately the elimination of the business personal property which is that last box that you see on on the screen there. So, uh, the the biggest change here is is seen then in the supplemental homestead deduction. Uh, that in 2025 was 37.5%. So, let's just say about a third of your home's value, uh, was deducted first and then we
018tax the rest. By the time 2031 comes around, it's going to be the inverse of that. So, about twothirds of your property will be deducted and then that'll then we would tax the rest of that. Uh, so so that's to say that it's it's pretty apparent that our net taxable assessed value is actually going to decrease. uh between now and 2031 just due to the magnitude of this shift in uh in this deduction right here. Uh so I'll talk about we'll go into the the details of what our estimated net assessed value is going to be. But first I'll touch on the red dots here. And so that's to say that um in addition to tweaking the net assessed value or our taxable value, the legislature also made changes to the tax liability uh or
019the tax revenue for us. And the easiest way to do that is in the form of a credit. Uh so they instituted the uh supplemental homestead credit there which is the lesser of $300 or 10% of the net property tax bill. Uh so that was really a way you know there there was a lot of talk about providing property tax relief. Instituting a property tax credit is the easiest way to institute immediate relief because again you take your taxable assessed value. You have your tax bill and then you apply a credit to that to really give that homeowner relief which ultimately is an expense in in our budget and all local units budget whenever you institute a credit like that. The other three credits are are very minimal and we won't go into details on
020on those in terms of modeling those because again it's just very minimal. Uh but again the general theme behind this chart is to say that the legislature uh uh went ahead and made changes to our how our net assessed value is calculated as well as instituting additional property tax credits. All right. So let's break down what does our net assessed value look like? because that is step number one for us to get to a number at the end of this uh to to finally know that the the impact here. So uh this is uh going to be our net assessed value for the school. Uh of course the green line is the gross assessed value which as we would expect over time is going to increase year-over-year. Uh the blue line there is the net
021assessed value before Senate enrolled act one was passed. uh we uh in working with uh a firm called policy analytics um we we worked out to project into the future uh what would be approximately about a three to four percent increase year-over-year before uh Senate Bill one was passed. So that's the blue line that you see right there. And then from that point forward uh we needed Policy Analytics help because they are the the best when it comes to modeling property tax revenue and they they do that based on a proprietary model that they have. They've been doing this for about 15 years, really ever since the the circuit breaker credit came into effect uh around 2009 because what they're able to do is get parcel level detail from our auditor, which is what they've
022done. They've gone into that the Hamilton County uh auditor's uh um database. They pulled out parcel level detail, meaning that they have literally every single property. So that way they have the details of whether or not there's already credits, deductions, whether it's a homestead, whether it's a commercial property. They pull out all that data. for us that's about 25,000 parcels that they that they're able to pull out and then essentially model out the the chart that's on that prior screen. Uh and of course they're doing that then over uh the next uh well through 2035. Uh so almost 10 years of of modeling out what that impact is going to be to our net assessed value based on the on those deductions that are being applied to that value. Uh as I mentioned, you know,
023we expect assess value to decrease and that's that orange line right there. So that is absolutely going to be kind of a fact of the matter as it relates to Senate and RO act one. Uh one silver lining though when you look at this chart is the fact that in 26 so you actually see an increase there in our net assessed value and in talking with policy analytics that is something that they believe is uh due to a couple things. Number one uh it it has to do with the DGF updating what they call cost tables for commercial properties. This is something that they do every five years and it it kind of gives you a little bit of a a bump up in your cap 3 properties. So that's that's really uh kind of
024huge for us because the percentage increase from 25 to 26 is about 6.5%. Last year our net assessed value so if you look there on the screen from the uh from the 5.036 in 2024 to the 5351 in 2025 that was about a 6.3. So we're already projecting about a uh a 210 of a percentage increase above last year in terms of our net assessed value. So, as they model this out for us, this was again a silver lining. Ultimately, we won't know the the certified net assessed value until technically August 1st is when the auditor, so just a little bit over a week, the auditor is supposed to certify our net assessed value. Uh they have been a couple weeks late the last couple years, but middle of August is when I'll have what
025that number is. And so, that'll really help then moving forward in terms of getting the budget calculated. But, uh in terms of an update tonight is to say that, uh right now we're actually projecting our net assess value to grow next year u by a very respectable amount. So now that we have the the net assessed value framed for this conversation, the next thing that we need to talk about are the property tax rates and specifically uh we need to talk about our debt uh debt service fund property tax rate because as you uh you guys know uh year-over-year for about seven years now, we have been decreasing our property tax rate. Um for the purposes of what I'm going to explain on this screen, let's just say that we were actually keeping our rate
026flat, which is kind of what we were doing. it was just a slight decrease, but let's just say it was a flat rate. And and that strategy that we've been employing is essentially the dashed teal line on this screen. So, so that is us having a flat debt service rate slightly decreasing year-over-year. And and that is modeled out there if we were to continue with that strategy year-over-year. That was if Senate uh enrolled Act One did not pass, we could continue to do that and everything would be uh status quo for us. The uh the other option here is that if we were not keeping a a flat rate, we could have managed to a flat debt service levy. Uh so if you think back to when we uh do the bond presentation and we
027talk about when our debt rolls off and we institute or we go ahead and issue a new bond to replace that debt that rolls off every year by issuing that bond. That's how we're able to to recapture that rate or recapture the levy. In the case of recapturing the the levy and keeping that flat, we're not capturing that growth in assessed value. Rather, we're just we only be capturing the amount of debt that rolls off. So that's really the difference between the dash blue line and the dash red line there. uh capturing the growth and assessed value which is what we've been doing in our in our rate strategy versus only capturing the debt that rolls off in the red in the red strategy or in the red line there. So then what policy analysts
028went ahead and did for us is they modeled both of these strategies uh after Senate enrolled act one. So basically taking that orange line on the prior screen the decrease in net assessed value and and what do we see happen? Well, we see an increase in property tax rates uh which is really what we would expect to see as net assessed value goes down our rates need to go up. Uh and so this is really a kind of a take-home principle here for us to to all start to realize is that uh even though for next year we do think that we'll probably actually decrease our property tax rate again moving forward into future years in order to capture the same amount of revenue, we actually anticipate the rate to go up and the legislature
029will actually be pretty straightforward to say that this is actually an intention of the law. Um not so much well not really an issue at all in in our district because a lot of properties are already at the cap. Um, but they've kind of been open in saying that they want to get most of properties throughout the state at that at that cap. And how do they do that? They do that by increasing rates. How did they do that? By applying deductions to decrease that net assessed value. And so that's exactly what we're seeing playing out here. So if we were to keep our our same strategy, you'll see then in the teal line on the top that we would actually uh start to hit a rate of about $167 come 2031. So there's a
030little bit of a problem with that if that was uh what we were to do because inside that total rate is that debt rate. And another aspect of Sunen Road act one was that uh the legislature moved the um the threshold to issue a referendum if you issue debt from 80 cents down to 70 cents. Um so that's to say that by 2031 in this graph if we were to follow our same strategy, our debt rate would uh likely exceed that 70 cents, meaning we could not issue a bond unless we took it to referendum. that's uh hamstring a lot of schools right now because they're already at the 80 cents and now for it to go down to the 70 cents. Um we w we want to try to keep our our debt rate
031as low as possible. Now, of course, we don't know what the future holds and some are talking that the legislature may bring that down to 60 or 50. Right now, our debt rate is at 47. Um and and so that's why when it comes to what will we do with our rate strategy versus our levy strategy, I can tell you in 2026, we will plan to keep our rate. Uh like I said, likely it's going to decrease mainly because we have that big increase of net assessed value next year. But as the net assessed value starts to decrease, it may be a mix between let's look at the levy of the debt service fund and determine how much we can raise it. So that way we try to keep our our rate manageable as much
032as possible to not increase. Okay, so that's the the debt service fund and that's just trying to frame that the rate strategy on that. Moving on to the operating referendum fund. Uh so as it relates to the rate, we all know that the voters uh of Noblesville approved an operating referendum of 37 cents. So when we apply that 37 cent rate to the uh the net assessed value as it decreases, uh we we went ahead and modeled out what this looks like both before and after. Uh so before uh Senate enrolled act one passed, you can see that the dash line continues to increase. And I would argue that this was probably the intention of why the legislature originally had a referendum fund be rate driven as opposed to levy driven. Uh that is because
033as your net assessed value grows, so does your levy of your of your fund, right? So if your net assessed value grows by 3%, so does your levy, right? Because the rate always stays constant. If it grows by 10%, your your levy will grow by 10%. Um, and so this is what is happening here then in this graph is that the decrease year-over-year in the solid is uh correlates directly with the decrease in net assessed value as we keep that flat 37 cent rate. One aspect though that I do want to make sure I address in this is the the change from 2025 to 2026. Uh this was actually one of the aspects that I feel like I was following the the closest uh as it relates to this past session because you you recall
034that both for 24 and 25 the legislature capped the amount of growth in our operating referendum fund. In 2024 it was at 3% and 25 is about four four and a half%. So that equated to that total levy up there on the screen of 21.2% or 21.2 million. as that cap gets lifted uh and that rate uh was suppressed to about 34 cents, it goes back up to 37 cents, that nets us about $4 million next year. So, so that is definitely a a good boost for us. But then the the kicker here is that part of that $4 million of growth needs to backfill the deficit created by that cap last year as well as it needs to be held and preserved for what we see then as a decrease at least the way
035the law is written now over the next, you know, four to five years depending on how AV grows for us. And so that is certainly a challenge and potentially I'd like to think that that would be maybe considered a cleanup item as we're already starting to hear about cleanup items for Senate enrolled act one. Could this be one where maybe the legislature comes back and realizes well you know what school referendum funds this doesn't make sense because we know that the AV is going to go down with a flat rate their revenue would go down but our costs are not going down. And so perhaps this could be a cleanup item. We'll wait and see. But otherwise, as it stands right now, uh seeing that decrease in in in revenue here is is obviously not
036good in those future years. All right. So, moving away from the tax base impacts, we'll move on to that credit impact. So, this is that 10% or $300 homestead credit that I spoke about earlier on the on the on the chart. And um you can see here both the levy model as well as the rate model um both uh in the separate in in the respective graphs here on the screen. And for 2026 um as we would expect this is a very sizable amount. Right? So this was that instant relief that was given to the homeowner. Um we have about 20,000 so about 20,000 of our 25,000 parcels are residential. So you can only imagine that that's going to be a big number. And for next year we're estimating just shy of about $2 million.
037That again is is a direct hit. uh both through the operations fund as well as the debt fund. So divided out there. Both of those levies are approximately equal. So it's a proportional divide. So that's why it's it's um you know it's it's basically split in half and color coded there for the respective graph. So, uh, again, that's about a $2 million hit, uh, overall in terms of revenue, all associated with that credit. As it relates to the taxpayer impact, we felt we felt like it was very important to also show what does this look like as it relates to um the average or the median assessed value assessed value homestead in the city of Noblesville. Uh so again, this is only looking within the city of Noblesville. And I felt like this was a
038good graph to to show um you know, just in case, you know, overall you're thinking about your constituents, what does this property tax uh relief mean for them? Well, as it as it relates to a median homestead parcel, um you can see here that uh overall the expected decrease in the property tax bill for next year is just a little shy of $170. Uh so yes, there is some immediate relief. uh come 2027 there would also be uh of course there would be increase at that point in time the assessed value is going to continue to grow and then by 2028 that is when it really be uh essentially gets back to the level that it was in 2025. So there is immediate relief and that's that credit that we're seeing being applied. Of course
039that credit stays on but then over time it begins to to increase as you know it naturally would. Uh so again, I would leave this up to the reader to decide whether or not this is enough relief for homeowners based on uh everything that has been um said about property taxes or or whether or not this is, you know, really going to make a dent in terms of that relief based on all the um issues that will probably cause for local government budgets uh really throughout the the state, but of course ours as well. Okay. So really the the the moment you've been waiting for if you will. So all that to say, you know, hey, so if there's a number, David, like that uh as it relates to, you know, what is the the
040change in revenue for us, here it is. And uh yes, there's a lot of numbers on the screen, but I tried to uh pinpoint in red here really where my eyes go whenever I see a policy and analytics report like this, and that is to our net levy. So um all the numbers are here as it relates to what is our what is our gross levy, what's the certified levy, what's the circuit breaker loss, what's the credit loss. Um but at the end of the day, what is then the total amount of revenue that we're going to see in each of the funds for next year based on our estimate uh for that net assessed value? And so highlighted here in red and you you see it go from 25 to 26 and uh that
041is where for our our capital referendum fund. Well, of course that stays the same. That's really kind of outside of this uh that goes to repay the debt. Then we have our operating referendum fund. That's the $4 million that I was talking about earlier on the line graph. So that's our rate going from about 34 cents back to the voter approved 37 cent rate. That of course is is a great uh boon to our budget that is really going to to help aid some of the the stable or decreased revenue. Next is the debt service fund. So this is showing that flat rate strategy as you see here on the on the title. This is this is the model for that rate strategy essentially being flat. So you see our debt service levy being flat
042at about the $25 million operations fund. So this is where uh the credit of course some circuit breaker credit is also going to to play a role in the change here. So, it looks like a an increase of about um $1.5 million. But what I would say to you is that look back onto 2024. Uh and in fact, I can kind of highlight right here. 2024, you see that we were at 13.8 and then we actually dropped down to the 12.7. Well, I was actually budgeting uh a little over $14 million, about 14.2 million this year. And then when the property tax bills went out uh myself and well I saw the circuit breaker impact because that really is not known until ultimately the bills are sent out un unless you pay for a report
043like this much earlier. That impact was about $1.5 million more and that was due really I'll spray the details of what it's really due to but it's due to the legislature reforming property taxes for the past two years and they increased the standard deduction or the supplemental deduction and then they had it on a schedule to start going back to that. Well, we were in one year of going back to that and that is the first time that we ever saw a deduction uh decrease, right? It's always been increasing and that's what that's going to happen here. Deductions are going to increase. Well, there's a decrease in that deduction and there and therefore it it caused more circuit breaker impact. It it impacted heavy residential areas uh like Noblesville, Westfield. West Westfield got hit by
044a very big number as well that they were not anticipating as well as some other um suburban uh schools were impacted by that. So that's really all to say it looks like we're increasing a lot, but it wasn't anticipated. So really that 14.2 is is really like a flat number for us as it relates to a change in our net levy for next year in the operations fund. But again, at the end of the day, you're seeing a change in total revenue from the 65 to the 71 uh under the rate strategy for next year, which again, a lot of that is due to that referendum fund getting our rate from the 34 cents back to the 37 cents, bringing in about $4 million. Of course, the outears are there for you to look at.
045Um and and yes it is an estimate. It's based on that net assess value decreasing but at this point in time um this is going to be the best model for us to follow. The the next page then shows what is what that looks like under the levy model. This is the model right if we just manage that that service levy flat. So you see in the out years beginning in 27 they they modeled the flat $24 million. So ultimately it nets us less revenue but that's all related to that debt service fund which again we have to be mindful of that 70cent rate. So that's why it's keeping us under that 70cent rate long term. Uh so really the change there overall from the 65 to to 70 is is very similar to that
046that prior screen. The uh the last thing that I'll I'll mention here is that uh if you look at the numbers and and the detail in the chart here, one other thing that Senate enrolled act one did do is that it um enabled for uh sharing of charter sharing of revenue with charter schools uh specifically within the operations fund for us. And so you see that beginning in 2028. Uh now when Dr. H and I met with policy analytics a lot again a lot of is really being known here and started talking about the the the wording in the law and it's actually written now where it's I hope I'm saying this right it's it's that it's a so it's only for brick and mortar and and and Dan knows the numbers and he knows
047the schools and so we're actually able to identify some of the schools that are actually we know are virtual. So right now um we believe it based on current numbers it wouldn't affect us because we don't we do not have more than 200 in our district that attend brick and mortar schools after you take out the virtual. Um so the number now assumes that all of those are brick and mortar. So I went ahead and kept this up here just to show that this is this is a phase in based on the total number and this is how it could look you know again because those numbers could be in flux that phases in in the future. That was a change based on Senate enrolled act one. Uh so just want us to be mindful
048of that as well as we move into the future. Uh and so with that board, I just want to say, you know, thank you for the opportunity to to talk property taxes tonight. Really appreciate how much you guys, you know, are engaged in this and do take an interest in learning this. So with that, I'd be hope be happy to take any questions, >> questions. >> That's a lot, right? >> It's a lot to digest, but thank you. >> Yes. >> Right. Right. >> Right. >> Yeah. And I guess you know really in summary it's it's our our our tax the taxable assessed value is decreasing >> rates are going to go up right that's really take and there was a credit uh so and and so you see on the one graph uh people
049will experience some relief right they will experience some relief for you know two years and then they'll start to see the bills go you know go back up again and so it's to say that yes it was you know there's an overhaul here and yes it is complicated but really the takehome there um is is just the changes in what I mentioned there so we'll more here in a couple weeks for for our assessed value and and then I'll I'll you know give the update during the budget hearing as well. >> Thank you. Well, we we appreciate everything you do. >> I know a lot of time, a lot of brain power, a lot of effort and we we appreciate every >> all of this everything that you put into it. >> How do they
050change it again in two years or one year? When is it budget cycles when we have this kind of effect? Is that when these things happen normally? Yeah, normally every two years when they do substantial changes, >> it some of these things at the end of the next year they sometimes come back and clean things up that maybe went somewhere they didn't want to go. >> That's what they believe is going to happen is that next year because of the extent the magnitude of these changes is that there will be, you know, cleanup items for next year. Uh but it's just yet to be determined what those those would be. One of the things that um is going to be really important for a few of us to do and David and I are on
051on the calendar for at least one legislator already is going to be districts taking this analysis things like this and helping legislators understand the implications of this because I'll be honest um I think most legislators don't even though they voted for it they voted for the idea of property tax reform without actually understanding what was actually going to change. >> So Right. Right. Um >> because it affects not just us, it's >> Oh, no. Every district in the state will will experience a variation of this phenomenon >> and cities >> and everyone and yes other taxi units and so everyone will have a different response based on how it is because some of the things that David just walked you through are specific to Noblesville. It's it's based on what our balance between residential and
052commercial is. It it's because of how tax caps affect us, etc. So, everyone experience something different, but at the end of the day, everyone is going to feel an impact. no one is immune. And so it'll be important um just to make sure legislators understand because something that I I want to point out that David said is a few of the things that he pointed out tonight we're now seeing but they are actually results of changes that already happened one and two years ago. So now they're just coming into play and starting to happen. Um and one of the frustrations we had through all this was the fact that they had already made some of those changes. They hadn't even fully implemented yet and we were changing again. And so now this in some ways
053this will compound for districts um going forward. So long story short, David has put a lot of work and thought and um I'm an effort into this to make sure we are prepared either way so we know what what's coming. Um but we feel a responsibility to make sure our elected officials before they change it because David's right. We are hearing that they're kicking around ideas of at least looking at it this session. It's not a budget year but they could at least look at some of the language or start prepping for the next one. So, we want to help them be informed. So, >> well, and I know it's it's a hot topic, so I don't want to get in too deep into the weeds on it, but with the charter school, how does
054that impact us? >> As as of next year, there will not be an impact. So, that impact um if there were to be over 200 students attending uh brick and mortar charter schools in our district, then we would begin the phase in. I think it's 25%. So, it's a proportionate share of our operation revenue per student beginning with uh I think it's 25% 50 75. Yeah. And then 100% by 2031. So it would be a phase in based on a proportionate share of our operations levy. >> But we're in the situation where we I I guess I didn't realize there was a minimum before you have to start sharing that. >> And that's what we >> it is I think it's 100 students or 2% of your enrollment I believe. And so when we did
055the math we're close but we think right now we actually fall below. >> So that's more incentive for us to try to keep our kids. >> Always incentive for that. Yes. Right. Right. But even more so. >> Yeah. And to be clear, just for maybe for the public sake as much as the boards, um David's referencing that the the funds that would be shared would be the operations funds. Remember, those are things that pay for utilities, insurance, maintenance, um a lot of our um non-certified staff. That that's where the where we will lose money out of that fund for that. And for further clarification, the charter schools, the the big issue is they're not held, I guess, accountable financially as far as all of the requirements and babysitting, if you will, by the state. Correct.
056>> They they do not um most charter schools do not fall under the same requirements we do in terms of auditing and transparency. >> Okay. >> And they don't have an elected school board like this who's keeping an eye on the money. >> Okay. You said assessed values are projected to go up from 25 to 26. Why is that even though they're getting immediate tax relief from the credits? >> Yes. So that's that delineation on uh the screen with the uh the credit versus the deductions. And so um the the credits in red um so all those items affect one's tax bill after it's calculated. Um I think in like federal terms that maybe you call it below the line. I'm not an accountant there but like right so like you um you calculate your
057tax bill and then you apply that credit versus if you need to first calculate what is your taxable value right and so you calculate your taxable value uh with your gross assessed value apply your deductions and then now you have your net assessed value and then from your net assessed value you apply your tax rate to get your property tax bill after you get your property tax bill you apply a credit and to get what you really owe or pay at that What is the dollar amount that the school gets? Is that based on the net or the gross? >> It's it's always based on on the net, which is really your taxable assessed value. Okay. Um net taxable assessed value >> because that's going to be net of those deductions. And that's really the
058heart of these changes, right? is that they're saying we're going to bring down what your taxable value is, which is how you provide relief in one in one form, which is really kind of meant for them to accomplish something else, but for them to provide immediate relief, they need to get relief on the property tax bill. Uh, so this what I'm saying here between the red and the yellow, it's do they're they're they're coming at your bill in two different ways, your taxable value and your tax bill. >> Okay, any other questions? Thank you very much. >> Thank you. All right. Um, public comment agenda topics. We did not have anybody um, sign up tonight, so we will move on to consent. Um, by a single motion, the board approves and adopts the following items
059or actions which reflect application of board policy in Indiana code. Those are claims, contracts, agreements, and sponsorships, minutes of our last meeting. Out of state trips, uh, personal listing, and the personnel addendum. May I have a motion to approve the consent items as listed? >> Joe and then a second by Misty. Any further discussion? >> I just like to say I don't have any questions. Okay. >> Thank you. All those in favor? I opposed. Motion carried. >> Before we move on, I would like to acknowledge he's been patiently sitting in the back of the room officially. Congratulations to Jason Simmons um who was just approved just now as a new dean at Noville High School. Congratulations, Jason. >> Welcome tonight. Um, all right. On to action. Um, in accordance with Indiana state law, schools are
060now required to utilize a more comprehensive expanded history background check for employment. Um, and may I have a motion to approve the separate personnel list as related to the additional background check information? >> Motion, >> Stephanie. Second, Misty. Any further discussion? All those in favor? I opposed. Motion carried. Okay. Um we are moving on to um action advertise budgets. Um as David reported on earlier, it's in the the budget process has begun and um we are required to advertise the budget for the next calendar year. Uh, may I have a motion to allow the chief financial officer or a designate to advertise the budgets as defined by the Department of Local Government Finance? May I have a motion? >> So move. >> So >> Second by Brett. Any further discussion? >> All those in favor?
061I >> opposed. Motion carried. Next, we have a um selection and purchase of curricular materials. Um, and the board got a list of these materials that have been selected for purchase as the primary resource for instruction um, and a few courses. May I have a motion to approve the selection and purchase of curricular materials to be used effective for the 2025 2026 school year. I have a motion move. >> Joe Misty second. Any further discussion? All those in favor? I opposed. Motion carried. Next, we have public comment for non-aggenda items. And we did not have anyone sign up tonight. So, we will move to committee reports. First up, Dr. Hy. >> All right. Thank you, board, and thank you, uh, for our community who stuck around. Um, we have a lot going on in the
062next seven days here at Noblesville Schools. Pretty exciting time. So, tomorrow right here in the boardroom, we'll be hosting our annual new educate orientation. looking forward to welcoming all our new teachers and administrators here to spend some time with us, getting to know um why no schools is best district around. So really looking forward to spending spending the day with them. Uh Friday evening, weather permitting, uh we are excited to host the annual back to school bash. Um we're going to be at Federal Hill Commons this year, so looking forward to that. Mary's done a lot of work to get ready for that, but of course we got to keep an eye on mother nature to make sure she doesn't spoil the party. But assuming she cooperates, we are we're very excited. We're very excited.
063a lot of a lot of great stuff planned and she's she's worked really hard on that. Um and then just a couple reminders. First, our first full staff day is on Monday morning. We have our annual welcome back breakfast that morning board. Hopefully most of most of all of you will be able to join us for that at 8 a.m. on Monday morning. Looking forward to that. And then of course the first day of school is two days later on Wednesday, July 30th. It is it is here and we are ready to go. Very excited. And then last thing, I know I've mentioned it before, but I want to say it again um for the benefit of our community. Uh the grand opening of the new wing of the high school is on uh Thursday,
064August 7th. Uh that'll start at 4:30. We'll do some remarks at 4:45, do a ribbon cutting and all the things. And then it'll be kind of just an open house um until about 6:30. Folks will be able to explore all the new areas um and see everything. And we really do hope um that we have a great turnout from the community so they can see what what all the great things we're doing for kids. So that's what's going on the next few weeks. >> All right. Thank you. Uh Noblesville Parks Board. Joe. >> Yes. We had a parks board meeting July 9th. The parks are open and very busy. Uh we're working on a five-year master plan for all our parks. that we're repaving in Forest Park and there's now a new trail open that
065comes uh out of Forest Park around Kroger down to Federal Hill. If somebody hasn't been there yet, uh take a spin down that Dylan Park, we are in a in a in a the design process of of doing some new things at Dylan. It'll be done eight next 18 months. Fence Creek, we're going to put four new baseball fields and four uh softball fields out there and lots more parking and that's going to be done over the next two or three years. Seminary parks going to get new playground equipment over the next year. Uh each week we've had 130 kids in camp, 65 at Forest Hill and 65 at Finch Creek. Uh that's all going well. Golf course is open and well and go to the website and see what concerts are either at Dylan
066Park or down at uh down at Federal Hill. So the parks are open. Enjoy them. >> Thank you, Joe. Uh Noblesville Youth Sports Alliance Misty. >> All right. Um so we had our meeting back on the 16th so just last week. Um and each each youth group as usual just kind of a round table go through and provide your um updates for each of the youth organizations. There was a brief discussion regarding some new requirements um requiring one or more representatives from each youth organization if they're using school property. while they're on school property, they are required to be um certified for CPR and AED um trainings. And um all of the organizations, our wonderful Joan Lawrence is going to give everyone uh locations for all of our AED devices on school property. So, in
067case there is a need for that, it was a pretty quick uh meeting this month. not much on the agenda um given the time of the year that it is, but I wanted to remind people also that the uh live golf championships are coming up. Anybody got their tickets? Anybody going? No. Um 8, it's on August 15th through August 17th at Cadam Hills. Uh Friday the 15th, tea time is at 12:15. Saturday the 16th at 11:15 and the third and final round on Sunday the 17th at 10:05. livegolf.com. Thank you. Our next meeting is August 20th. >> All right. Um thank you. The next regular schoolboard meeting is Tuesday, August 19th, 6 pm here, and our strategic plan report will be exceptional staffing. Um may I have a motion to adjourn this meeting? move. >>
068So Misty second. Any further discussion? >> I just wanted to say one thing from the um sorry be fast student services the um the little Miller's preschool survey that 4.8 out of five on the sur >> so many positive amazing awesome. How many students how many kids do we have in that preschool program? >> Oh okay. Okay. >> Are they mostly um employees children or are they No. Okay. Okay. So, it's not just Okay. Well, that's fantastic. Good job on that. That's great. Oh, that's fine. That's fine. But it sounds like everyone's really pleased. They say everything's like excellent. So, >> that's awesome. >> Oh, yeah. Yeah. >> Yeah. Oh, they did. Oh, fun. Oh, that's so fun. Okay. Awesome. Thanks for including that. >> Okay. All right. Anything else? All those in favor I
069>> I >> opposed. Motion carried. We are adjourned.