001school board public hearing uh with regard to the 2026 budget presentation. Um any changes or amendments to the agenda? >> Dr. Glaze, the floor is yours for the fifth time. >> Absolutely. Um so uh last uh our last uh monthly meeting we did uh go through this uh budget presentation during our work session. So we will briefly go through this again. Um and if there are any questions that come up please don't hesitate to ask. >> And for those people watching where is this available? >> Uh this is available on there's a there's a website on the I don't want to miss say where that is. Um yeah, there we go. It is uh available um on the uh budget notices.in.gov. >> Okay. >> So, and then you have to go in, you have to
002select the county and then select the taxing unit which would be typication. Okay. >> So, all of that is is available uh if you have any questions about that. >> Perfect. Thank you. You bet. Not a problem. Uh, we talked a little bit about the different pots of money. Um, and the different buckets of money because buckets of money are are important and Mr. Jorski loves it when I call them buckets of money. And so, uh, we also talked a little bit about how the dollars flow. Uh once again, the money that goes into the our education fund, which is how we directly uh fund each student, uh comes from state dollars comes to us and then uh there's some other uh other add-ons that that are part of those funds and we'll talk more
003in depth with that in just a minute. Uh so that those state dollars just come straight to us and that's what is is basically going into our education fund. And then we have the local property tax dollars which are going into debt service and into our operations fund. So essentially what we're looking at and this is just our potential revenue and uh and this is actually a little bit less than what we're anticipating now because our enrollment appears to be a little bit up and so we'll have a little bit more dollars than what this this uh initial plan shows. But that's that's a good problem to have. Um, so we're right now we're looking at an education revenue of around 11,496 and an operation fund revenue of around 5,215 and then a debt service
004revenue of uh 44 4,871 and currently uh if with based on a 75% of our AV our rate would be a 1.9 so a dollar n um likely that's going to be more in be uh the 90 cent range, upper 80 cent range. Uh once everything gets sorted out again, um what we do, how we get this money, we have our average daily enrollment which is due on October 1st. So whatever students are sitting in our seats October 1st are the students that we can count and uh so we will uh run that report, send that in and hopefully those numbers will stick. Um, one of the things that has an impact on our um, our property tax dollars has the assessed valuation. Uh, we recently received our certified uh, net AV and uh, was
005uh, up about 1 and 2%. Um, again not the not the numbers we've seen in the past or the last few years anyway. actually more like the numbers we saw prior to all this crazy um assessed valuation increase. um Indiana. Uh basically the way that the the the funds are generated is basically it's based on statewide average income. Circuit breaker uh which we have around $600,000 of circuit breaker impact. And then we have the additional $276,000 that will be a new impact uh due to um the homestead additional homestead credit. uh federal grants are added in. Uh basically uh around $200,000 of of title one funds are also are also in addition to these funds as well as some uh title two uh title three dollars. Uh those are much lower amount than uh than
006what the title one. Uh this is the run of of the projected budget. Um, this is kind of a nice thing that the general assembly does for us. They they give us the numbers and then they they allow this to go out to the schools so we can get a general idea of what we're looking at uh from um a funding perspective. So basically what we're looking at is a foundation grant. That's the basic grant that everybody every student in the state gets. So, um, our our basic grant, uh, foundation grant number is, uh, $6,981 per student. And then we have complexity index. And this really has a direct impact to our free and reduced lunch rate. And and so we get an additional $500 per student uh for uh the to for free and
007reduced. And then we get an additional uh $700 per student in uh statewide special ed funds. Uh around $418 uh as far as the career technical education and basically that comes from 30A funds. Uh the 30A funds are primarily uh received from the high school students who are taking uh classes either at the Hines Career Center or taking classes here uh where they're doing um more of their pathway types of classes and the more um more advanced types of classes. Uh so also the academic uh honors performance. This is for the number of students that we have that are graduating with an academic honors or a technical honors. Uh students that are taking AP, students that are qualifying for dual credit. So there's a formula on how that works. And then we get around 14,000
008or about $14 uh per student uh for non-English-speaking. So a grand total of $8,700 uh per student. Uh, and what we do is we take that dollar and multiply it by whatever the the um the enrollment is on October 1st and that's what generates our education budget. Um, the education fund primarily uh funds teacher salaries and benefits. uh also takes care of the principal office of salary and benefits, special programs, high ability, special education, summer school, CTE, remediation, instructional assistance, guid guidance, counseling, nurses, uh speech pathology, classroom supplies and equipment, educational media services, curricular materials, and um and athletic, academic, and uh sponsor stipens. Uh, one thing that's a little bit different with the funding that we have this year is the $160 that each student gets um as part of the curricular materials um
009funding it that is included in the in that dollar figure. Um so it used to be a separate grant now it's included in the formula. So the education revenue uh again we get the basic foundation grant. We talked a little bit about complexity and the various other areas where we can get money. And then once again in in in bold we have the $160 um that essentially has to be taken out because that's money has already been promised uh in order to pay uh curricular materials. Uh operation fund primarily takes care of of transportation uh capital projects any kind of projects that we do uh on our own during the school year. uh central office staffing, utilities, custodial uh maintenance staffing, uh property insurance, and then it also can be used to pay for bus
010replacement. Uh but a couple of years ago, we funded our bus replacement uh with a geo bond. Um again so where the way the revenue comes in a little bit for in operations. So we get uh we get of course our property tax and then we get CVET bit fit and excise tax. Uh so the the uh the financial institution tax is the fit. Um the the CVET is the motor vehicle tax and and then we get excise tax also. Is that the motor vehicle? That's commercial vehicle tax. Sorry about that. And then the excise tax comes from license plates. Um funds are transferred uh from the education fund. We can transfer up to 15%. Uh we have a relatively low percentage that we transfer. Uh that is of course going to increase a little
011bit as we are looking at uh budget shortfalls uh due to SEA1. Um regardless of how much our AV grows our uh we can only increase our funds by 4%. Um that is the the maximum growth that is allowable. And then uh the other part of it is particularly with the debt service and with um the operations fund is they will be impacted by uh the property tax cap loss that we uh discussed a little earlier. um operation fund uh comparisons. As I shared last time, we're kind of in the middle as far as our operation fund um in in our rate. And uh so we are at 45 cents uh for last year. Probably going to be fairly close to that this year. Maybe a slight uptick again because the VAV not changing much
012uh but uh should be pretty close uh to that level. So once again, right in the middle. Um and uh the other part it would be uh I wanted to draw a comparison to the the couple of schools near us that are that have an operating referendum and to share what the uh what the rate is for their operating referendum. Sharon is at 25 cents and Alexandria is at 32 cents. I believe Sheridan I think it's only been a couple of years I I think they did theirs Alexandria it four years ago um because they also did a a capital it's a it's an operations and capital reference so they did some renovations and our turner that that's I I remember so I believe So yes, I believe so. Um debt service, again, this is
013where we pay for um our lease agreements and rentals, general obligation bonds, and then any any kind of associated fee. Again, we talked a little bit about the revenue before. Um debt service comparison, we have a relatively low debt service um rate uh compared to our neighbors. Um it goes all the way up to 75 cents. Um as far as the the max rate, we are at 39 cents currently. We anticipate it to kind of hover around that 40 cents range um as we're getting everything um approved and and getting the certified rates rolling out. Um, so overall tax rate, we are still very low in the overall tax rate and even if our rate does go up a little, we'll probably not move much. Um, and uh, so we are the the second lowest
014rate uh, in the area schools of 85 cents. Uh so basically what we've tried to do with debt management, we have really tried to adopt this philosophy of maintaining a a steady rate again so you don't have anybody's tax bill going up and down and doing some crazy stuff. So we've tried to keep it relatively close uh to that. In 96 we had a little bit of a blip because the AV uh came out a little bit lower and so it did pop that rate up. Uh but as you can see in 23 when we had this huge increase in assessed valuation it went back down to that upper 80% or that upper 80 cents. So essentially what we're talking about here is really how much money we how much revenue we get uh including
015our operation fund. So each Typton student this is compared with operations and education. It's around $11,000 a student if you divide that by the number of students that we have. The state average is uh 11,113 I'm sorry that's wrong is 11,0002. So we are above the state average by a couple hundred dollars per student. Um which is great. Um and uh so we we kind of are on the the higher side of of those dollars and what those dollars look like. Um so and that's the revenue coming in. So again, we're above state average. Uh 76% of our revenue um comes from the uh from the state funding formula and then about 24% of the revenue comes from local property taxes. So combine combining those two we have 76 and 24. So our actual expenses
016uh so once again we we try hard to not spend everything that we have. Uh so our expenses around 10,673 which again is on the top side of of of this graph. Uh so again uh we are we are getting a little bit more than state average and we are spending a little bit more than state average uh for each of our students. So just kind of a deep dive again we're above state average. 85% of those expenditures really per student are dedicated to staff salaries and benefits. That would include all all staff. Uh 5% of that is going to be transportation. 3% supplies and technology. um 3% utilities, 2% uh purchase services, and then 1% insurance. So, basically the six-year trend, and this is a little bit redundant, but it kind of gives it
017in a dollar figure. Um, so as you notice as we're looking at our total budget, you see some fairly decent increases. Not not so great in 21 to 22, but definitely nice increases 24 and 25. uh 26 of course because of the impact of all this new legislation is um is lowering that that overall threshold just a little bit. Um again we are basing this on 85% of last year's AV. Uh we anticipate that this will look a little bit different uh because we do have our AV now. And then um the other part of that is um the we do in case things get a little bit weird with how we do our tax draws, we do have an additional appropriation coming out of our rainy day fund, which is not a typical thing
018that we do. Uh but that's just to make sure that we have cash flow. Um when taxes are reassessed, things get different. it sometimes can have a funny impact on how collections go. That's just my experience. Um, so we just want to have that as a extra cushion in case we need it. Um, again I I've said this before that uh the increase between 25 and 26 is pretty small. Um, but this increase also includes $ 160 uh dollars per student for textbook or curricular materials. And then so really a total increase around $56,000. Um our operation fund is actually uh one uh 151,000 less than what it was uh this last year and then education fund is a little bit on the positive side around or 5,000 541. Now with the additional pupils that's
019around $400,000. Um, but once you take out the textbook adoption fees and or the gosh darn it, the curricular material fees and then some additional fees that we are uh paying to be part of Kasich, our our special ed co-op, that ends up being about $127,000, which is better than five. Um, so that's really kind of the new money we have to play with as far as looking at teacher raises. uh just to kind of talk a little bit about um you know electric bill and again I want to make sure that you know we our Typton utilities are they've been great they've been our are our good partners and they've tried to ease into these increases uh but you know once again it's just uh increases happen and and we're we're appreciative of their
020work but you know when we're looking at how much our our electric bill has increased it's about 26% uh since 2022 and Uh, and we're kind of on pace to have another 6.2% increase um this coming year. Another thing, since I didn't anticipate buying buses, um, we did buy buses, we build out a PO for those and use the remaining uh, funds out of our geo bond. But I did want to show you the difference in the price of buses uh, from 2021 to 2025. And it's uh respectively the the C2s are the the regular bus that we all grew up on and rode and the 84s are the flatnosed buses. Uh 41 and 40% increase uh since 2001. And I did want to clarify because I did misspeak. Uh you know, this does include
021some tariff increases which is $2,500. I said $20,000 which I apologize that's not correct and I do want to make sure that that is is correct but still you never like to see things like that you know kind of bumping the prices up but it is um so again inflationary pressures you know in a time when we're we're we have less money uh just really puts the corporation in a in a pretty tight squeeze. So, we've talked about a little bit of staff reductions and uh so we've saved uh $268 um,000 in staff reductions. However, we do have to transfer $250,000 out of the education fund into the operation fund to make up for what we've lost uh due to circuit breaker. Um we have uh reduced supply budgets. We've reduced our maintenance budgets and
022we've eliminated several services service agreements. Um we are about ready to go through another cycle of of reducing and having conversation um with with our people about what do you need versus what do you want and how to make all of that work. Um, now that the curricular materials are coming straight out of the education fund, it just puts a real strain on the education fund and uh we want to we want we try to keep those separate and we want to keep those separate. Uh, but you know if there's a lot of cost it's impossible to keep separate. So we're trying really hard to do that. So just again asking for people to uh help us out here and and I and I feel very confident our staff will do. Uh this is kind
023of the reduction in staff that we've had over the last few years and uh so we had the bus replacement plan and the capital projects plan. So the bus replacement plan that is actually advertised is different. All they really care about is the fact that we're going to um order we're going to buy buses. They don't really care about the number. They just want to see that there's a a line saying we're buying buses. So, we are going to buy two buses and that is primarily because our we have to spend all of the bond proceeds um three years after the issuance. I thought it was four and so we had to kind of scramble a little bit get the POS and and get get that money encumbered um so that we get get the
024buses. So, uh, luckily we are not looking at the lead time that we've had to look at during the pandemic where we're like 18 months out. So, they're about six months out. So, we're actually going to be in pretty good shape as far as getting buses in in a timely manner. So, Giovon, again, if uh you're just dying to uh see more of this information, it's all right here. Um, and this is more of the detail. This is the the the the same documents that are on the um state website. Um, but this is a little bit easier format to pull them out of. And then if you're at home and you want to see the capital projects and all of our our budget uh information, then you can go to budget notices.in.gov and select
025the county and then select us as the taxing unit. Community School Corporation and you can see everything that is in our budget for 2026. Uh so with this um we would uh we would ask the October meeting to approve the the 2026 budget. And do you have any questions over that? It is mind-blowing stuff. I think we're good. >> All right. So, the next part of the bud uh the agenda is uh public comment regarding the budget. Um there is nobody signed up nor is there anybody else in the building. So, just in the interest of transparency. So, um I would say before we move to adjournment, I'm speaking on behalf of the board just thanking Brooke and I'm sure um Nate and lots of other little minions running around back there and yourself and
026Scott uh for the for the the work to do this and a lot of hard decisions got made and um you've made this pretty uh seamless for us and easy. So, just wanted to publicly acknowledge on the record um that that hard work in addition to your other parts of your job, right? Brooke didn't get exhausted. So, we really do thank you for that. And um with that, if there's no other questions or or comments, we I I would say we're in adjournment of the public hearing. >> All right. Great. >> All right. Thank you. >> Yep.