001To the flag of the United States of America and to the republic for which it stands. One nation under God, indivisible, with liberty and justice for all. >> Members, if you call Christina >> here. >> I'm here. >> David Kaufman here. >> Don Leman. John Payne here. Brian Toby >> here, >> Jessica McFarland >> here, >> Gretchian Thomas >> here, >> and Scott Croner here. >> Our first item is special board recognition. We have Northwood FFA with us here this evening. >> You are up. >> Good evening. My name is Gretchen Ferba. I'm serving as Northwood FFA president and along with me is our 2026 officer team. We are here to talk through our overview of our national FFA week which we have been um partying at work and planning since November. So we have
002a huge amount of events, dress up days, multiple things for the chapter, the community, and they're all here to share about those. But I would like to hit on some of the contests that we are preparing for right now in um morning practices, afternoon practices, in home rooms. Um so we are preparing for livestock judging contests, small engines contests and also milk quality and products and mech judging which state for those are coming up this weekend this weekend. So all those teams have been preparing practicing for months and so we're really proud of all those teams and we also have a lot of members involved on those teams. So with that I'm going to turn it over to each of our officers have something [clears throat] to share. So before the team shares about uh
003national FFA week, I'm going to share about what we've been doing in the classroom. So uh members last Thursday submitted their supervised agricultural experience uh proficiencies. We had nine applications turned in for a district. And of those nine applications, five of them made it to the state level. So they'll be submitted again in March for state. We're really proud of all our members. It takes a lot of hard work. an SAPE for you those of you who might not know there's either a entrepreneurship or a placement category. So members either have their own farms or work for people in a fields and they're able to write out an application and turn it in and compete against other competitors in district 2. And then following that we also have members today uh I believe nine of
004them submitted applications for their degree which is the highest degree that you can get in FFA in Indiana. So that's really excited for them. And then we also have one Star Farmer application. So Caitlyn submitted her Star Farmer and we're really proud of her for that. So we'll see how she does. >> Hi, I'm Carly and I'm the secretary this year. And on Monday for cafe week, we're going to US officers are going to be passing out teachers gifts to all of our teachers. So we'll come in early and then just give them all a little gift. And then on Tuesday and Monday during lunch, we're going to [clears throat] be a teacher cornhole tournament where everybody will sign up through a sports tier that will get sent out tomorrow. And then um there will
005be prizes for the top three winners. And then on Tuesday night, members will meet in Mrs. Henderson's room to do um a Jeopardy night or a game night where we'll be playing Jeopardy and having a lot of fun and friends about everything. >> I'm Preston. I'm serving as your reporter this year. And um on Wednesday in the morning, we're doing a teacher breakfast to show our appreciation to the teachers. So, we're all bringing in food um and teachers can come in and give breakfast before school. And then um during home room, Gretchen's bringing in lunch for all of our members. So, all members can come in during their lunches and eat free lunches that Gretchen's bringing. And then we're going to do a home room activity, too. Hi, I'm Olivia Lent. I'm serving as the
006treasurer this year. And um for the second year in a row we are doing our roots of excellence night. Um this year we are hosting it at Claywood Event Center and it is just a night where we can honor our alumni. This last year was our induction of our chapter. This year we [clears throat] will be inducting the new officers of our alumni chapter. We will also be doing our annual work auction which is one of our biggest fundraisers we do throughout the entire year. Um this event this year is being held at Playwood Event Center uh south of town. Um, it is from 6:00 to 8 on the Thursday of week, so the 26th. And if you guys can come, that would be great. I have these post them right here. >> I'm Henry,
007uh, the serving as the Sentinel this year. Um, on Friday of FFA week, we will have the annual tractor drivein where members will drive their tractors in in the morning. [clears throat] They will meet at Martins's at 7:45 in the morning or 6:45 in the morning and um at 7 they will get a police escort to the high school and then they will leave after school. Um currently we are having the waivers each member have the waivers signed by um their parents the owners of the tractors and then also administration um before they can drive a tractor in. Um, also on Friday, we are having our skate night at uh, East Lake in Warsaw. Um, that will take place at 6:00 in the evening. And then also throughout the week, we are having dress up
008days where everyone in the school can dress up for a specific theme every day. And then also throughout the entire week, we are selling uh Culver's ice cream to everyone and then on Friday they will be able to pick up their ice cream and enjoy it. >> Good evening. My name is Caitlyn Lamb. I'm currently serving as your student advisor for this year. Um so to put an end off for our National FA week this year, uh we're going to have our third annual all you can eat pancake and sausage breakfast. Um so we have a few new additions this year. So, we can either we're doing pre-sale tickets. So, if you guys do want any, please contact one of us officers or Miss Henderson or Mrs. Allen. So, pre-sale tickets will be $10 per
009ticket or if you want to go to the door, it is $12 per ticket. And then also in addition, this year we will be having a drive-thru. So you'll enter in through the back by the tennis courts or off in Legacy Lane and then go back behind the shop and then pick up your food there and then exit onto uh State Road 19. So this is just a really great way for our members to give back to our community once again and serve breakfast for our supporters and just put on a a great end ending for National FA Week. And then I have flyers that I'll put next to the roots of excellence ones. So that is our FFA week. As you can hear and have like as they have shared, there's a lot going
010on and we're really proud of ourselves and proud of our chapter and proud of everything that we've been capable of and um we can't wait to see what the week turns out like. So um one of the final things that we have to share with you is like Olivia mentioned, we are having the introductory of the charter of our alumni chapter at Roots of Excellence. And this Thursday, the 12th, at 6 p.m., [clears throat] we are holding our chapter induct inductatory meeting um in Miss Henderson's room. This will give them information about dues and um it'll give them information about what the chapter is and how we are going to go about utilizing them as another aspect of our chapter. And so this was posted on our Facebook and has been recently reposted. So, if
011you have interest in looking into this or contacting an advisor for more information about it, this is on our Facebook and social media. I also would like to highlight all of these kiddos. Um, this is our full officer team. We also have an executive committee. Um, so they're kind of all on different committees planning all of these events for FFA week. And like Gretchen said, started back in December. Um, now we're two weeks away. So, couldn't be more proud of everything they've planned and are continuing to plan. And um most of them are going to the ELC practice after this. So if you're ever interested, um district leadership convention is in March. Um it's on a Friday held at Tippy Valley. Every Monday and Tuesday we are practicing. They're giving speeches, demos, doing research, writing
012essays, um all sorts of fun stuff. So, we're in the ad rooms every Monday and Tuesday from 6:30 to 8. Um if you just want to stop in, see what they're doing, want to come listen, give some feedback. Um there's lots of cool things going on. Jessica belt buckles a couple awards. >> Uh yeah, they're from placing at like county fair. >> Hardly noticed. >> Thanks for coming in. >> Yes. Thank you very much. Guys, you're busy. >> Very busy. Have fun. Enjoy that week. As always, you guys are free to go unless you want to hang around and see some board meeting. >> Thanks for sharing. >> Thank you. Thank you. >> We just wanted to make sure >> Next we have recognition of visitors and public input sign. >> April Matt, did you
013guys sign in? >> I do not sign. >> All right. Next on the uh agenda is amendments to the agenda in front of you there seats. >> Make a motion we accept the amendments as listed. >> I'll second a motion from Christina and a second from David. Any discussion or questions over there? Sorry. Oh. >> Um hearing none. All those in favor signify by saying I. I. >> All those opposed, same sign. Motion carries six to zero. Next we have consent items consisting of board minutes, claims, personnel items, professional leave and grants and donations. >> A motion that we include the consent items to include the amendments we just accepted. Second motion from Christina, a second from Brian. Any discussion or questions? Hearing none. All those in favor signify by saying I. I. >> All
014those opposed, same sign. Motion carries six to zero. Next action items. Consider the approval to remove nominal uncollected debt from prior schools. >> Um you had a memo in your board packet. We had a total of 13 families owing less than a dollar according to go ahead and write those off. I make a motion we approve the uncollected debt. Second motion from Christina, a second from Trevor. Any questions or discussion? He none. All those in favor signify by saying I. >> I. All those opposed same sign. That motion carries six to zero. Next item, consider the approval of the adoption of school board policy 0140, filling a board vacancy. >> There's been no changes from the previous board meeting. I recommended I'll make a motion to approve the adoption of school policy 0140. >> Second
015motion from David, a second from John. Any discussion, questions? Hearing none. All those in favor signify by saying I. >> I. >> All those opposed, same sign. That motion carries six to zero. Uh, next, consider the approval of adoption of schoolboard policy 6480, prepayment of invoices and claims. >> Again, no changes from the previous board meeting, so I would recommend approval as presented. >> Make a motion to approve schoolboard policy 6480, prepayment of invoices and claims. Second. >> A motion from John, a second from Trevor. Any questions or discussion? Hearing none. All those in favor signify by saying I. >> I. >> All those opposed same sign. Motion carries six to zero. Next item consider the approval of the permission to advertise for W community schools facility upgrades. >> Um we're packing a copy of
016what we plan to send out to the media. Um we have a couple projects that we need to get completed. Um this is in from the Barton Cilla study we had done. So some masonry work at the high school chimney. Um there's some ethus work uh which is around the windows at Napne Elementary School. Um the insulation in the gymnasium, the old gymnasium at the high the middle school and new uh basketball court flooring at the middle school as well and the old gym. So that's what these projects would encompass and I'd recommend approval as presented. I'll make a motion we approve permission to advertise for the W community schools facility upgrades. >> Second. A motion from Dave, a second from John. Any questions or discussion on this? >> I should add, sorry, I did
017send you guys a spreadsheet there. And so, not everything that was in I think it's yellow, right? Um, was in this permission to advertise. Uh, that's because John is going to be the lead individual. Those bar is going to kind of lead these projects. So, these are a little more intense. The other ones are um more manageable that John felt he could he could handle go without getting books getting bids. Um those other ones are more complex and complicated. So we needed some additional assistance with it. So will this be a bid for all those together or they just >> uh >> try to split those all out? >> Yeah, they'll be individual projects but one contract for all of them. >> Correct. [clears throat] >> Any questions or discussion? Hearing none. All those in
018favor signify by saying I. I. >> All those opposed. Same sign. Motion carry 6. Uh consider approval of the out of state overnight trips for the following Northwood High School VPA to VPA state convention March 8 through 10. >> Um and we recommend approval as presented. >> Motion. Motion to approve the um overnight trips out of state trips. A motion from Trevor, a second from Brian. Any questions or discussion on that? None. All those in favor signifi signify by saying I. I. >> All oppose. Same sign. That motion also carries 6. Uh next discussion information. First we have kindergarten roundup. I read summer school updates. Dr. Thomas. >> Um just a few quick updates for you. Kindergarten roundup. Our registration is actually open now. We opened it about a month earlier this year. So, we
019opened it February 3rd. Um, that's where parents can go online and fill out the information there and start collecting the birth certificate and things that they need to um actually enroll. So, that has opened up u March 12th at 9:30 and 5:30. All three of our elementaryaries will be hosting kindergarten roundup um same time and same date at each of those buildings. So, 9:30 and 5:30 accommodate morning and evening times. Um during those times they will haveformational meetings. What is a day in the life of a kindergartener like in the schools? What should um what is a student likely to know already coming into kindergarten? What will they learn in kindergarten? All of those things. Um parents will learn like what they need to have in order to register for kindergarten if they don't have
020that already. And then once they have all those things turned in, then they'll um sign up for a kindergarten assessment date. So those come in April and May where they bring their child back and they have a one-on-one kindergarten assessment so we can just identify needs ahead of time and start looking at what we can do to start reaching those students as soon as they come back in August. So that's kind of our roundup. Um that leads us then into the summertime. So starting also in March, we have I read 3 beginning. Uh March 2nd to March 13th is the first I read 3 assessment. So that's our first spring window. That's for every second and third grader. Um that will be the first attempt. There's another window then that opens up um May 11th
021through June 26. So that's a large window. It's a summer testing window. Second graders can have a second attempt, third graders can actually have two more attempts. And so typically what we do um for third graders, if they don't pass the first time, we do some intervention work and then we give them another uh assessment at the end of the school year. If they don't pass at that time, then after the summer school session, then we give them a a third opportunity after that summer session. Second grade, we can only assess them twice. So, we have that first assessment. If they don't pass, then it depends on the student. If we'll give interventions, if we feel like they're really close, we feel like they'll be successful, then we can give them that assessment before summer
022school. If we feel like they need that summer school time also, then we'll wait and we'll give it to them after summer school. Um, summer school this year, we have tenative dates scheduled for June 2nd to the 19th. Obviously, we're looking at weather and uh hospital school makeup days and things like that. So, we're kind of holding off until we set that in stone, but that's tentatively what we're looking at. Um, we will hold summer school this year for second and third graders for IE. Um, we also hold one high school credit recovery session. We'll continue to do that this year for students that need that. And then we have summer egg that we offer. So, that's what we offered last year. We'll continue to have those same programs this year as well. Last year
023we had a summer school for the elementaryaries all in one building and that was very successful. The teachers all coming together um sharing ideas and working together and the students getting to know different teachers and things like that. So we will do that again this year. That was kind of by chance and the way things worked out and it actually worked out for the best. So we will do that again this year. Um and we are planning on having that at uh Napony Elementary this year. I'm sorry, Woodview this year. Last year wasn't happening. This year, Woodview and that's due to construction projects also happening at the other buildings. So, that's the update for those three. I'll be happy to answer any questions that you have. >> Are we offered any summer PE or have
024we? I thought that came up a while back about >> is that is that an option because some kids with their schedules have a hard time getting that elected in. I guess >> we did. We used to offer summer PE. Um I think last year was the first year we did not offer it. >> Not last year. >> I think last year was the first year we did not offer it because the state quit um funding it. >> Yep. >> But um to help I think with some of the scheduling the state did make some changes in uh diploma requirements and so there is now just one uh fe that is required of students that are enrolling. Actually it's our current freshman classes under that. that requirement now. So that has >> they used to
025have P1, P2, and health. Now they just have P1 and health. Any other questions? >> All right. Uh, real briefly, I'll just do a quick enrollment update. Um, this up here, this was our February 4th count day. We'll skip down the bottom. You can see it. Um, not great news. down 16 students from where we were this past fall um and down 40 students from where we were last spring. So continue to see um slippage in our enrollment numbers. So we'll jump to the next uh spreadsheet. I went ahead and calculated our fall projection for next year. Again utilizing our cohort survival method. um basically the average over the last 5 years, how many kids metriculate from kindergarten first, first 1st to second and what that percentage is as an average is what you see
026on the bottom table there. And so if you take our fall count and multiply that by our cohort survival average and then take a 5-year average, what our kindergarten members have been, you'll see um we're projecting to be down um seven students from where we were um last year on that. So hopefully we're starting to see some stabilization and get to that bottom um and then start to see a little bit of growth, but that's what we're projecting so far for next year. >> So we look at [clears throat] another time just what enrollment for like schools in the county >> because they're kind of as well like it's >> correct. And actually it's it's most of rural Indiana. Um anywhere outside of the Dona area, we're seeing a decline. in enrollment. Um, again, our
027our biggest I mean, we as a school choice, we come out ahead. We're around 350 students this year. I think we lost about 250, so about a net of 100. Uh, that includes choice scholarships as well. Um, but, you know, the biggest piece for us is kids that transfer to home school, transfer to home school, and transfer to school programs. Um, I did do a quick survey with our principles as we kind of pulled the names of the students from last year that transferred and it kind of fell where we thought it was. It was folks who just wanted some more academic freedom and some freedom within their own personal schedules and folks who um were I'd say students maybe who were struggling in the traditional classroom setting and um elected to have more flexibility
028with a virtual program rather than um work with within the school setting. So Gretch and I were kind of discussing some options today um to help mitigate this, none of which I like. Um you know, one option we could throw out is do we start to consider offering a virtual program as well. Um I really struggle with that. Um, the reason why I struggle with it is I I just don't think it's what's best for kids and I don't want to really invest time, effort, energy in an academic program that I don't believe um is truly what's best for kids. I'd rather invest that in what I do believe it's best for kids and that's being here at W Community Schools. But, you know, that is certainly something we could explore if we want to
029try to capture some of our kids that are electing other virtual programs from around the state, whether it be a virtual charter or a virtual public school that's offering that to them. something that we could explore. Um, but again, there's an investment there. There's some cost that's associated with it. There's some staffing that you have to do. So, um, again, I just don't know if it would be worth the the effort. Um, and again, in my opinion, I just I just don't think it's what's best for with for kids education environment. So, but again, I'm happy to hear your thoughts and feedback on that. >> Are there other schools in the area that you offer that >> uh in the area? um you know South Bend started offering it >> is it? >> But we
030don't have any students that are enrolling in Southbend. It's uh you know >> online. >> Yeah. There it's like K12 um Indiana online. Uh there's a um small rural school in Randolph County that probably 80% of their student population in total are virtual kids. >> So um I don't know if there's I guess South Ben is doing it, but we just haven't had any kids elected that. And so again, that's something Gretch and I discussed is that something that we would create and just offer only for our kids who are seeking that already. Um, and again, as a way of kind of, you know, keeping those those students enrolled, but then that comes with with challenges as well. >> I'm assuming that that virtual program is more inclined for the high school kids. Would it
031or is it does it go lower than that? Because it seems like that would be even less effective the younger that you go compared to high school. But do they offer it all the way through? They do. Okay. >> Yeah. Indiana offers K12 online is the most popular one. And that's Yeah. Kindergarten all the way up. >> Okay. And if you look at their accountability, I mean, it's none of these programs are um I don't think anyone has figured out a way of really doing a great job with >> with that means of of educating. And then the other piece that I think would be great, it'd be so hard to track down like with homeschool like when you think about especially think about younger eight, you know, K through eight, it should be nice
032to get some sort of sense of like what, you know, how we're losing those students. But I'm sure it's such a wide range like of, you know, possibilities. But I don't know. I'm sure there's just no way to really capture the the main reason like the things that we could consider to attain some of those kids. Every principal that had a student this past year that, you know, chose the homeschool option, it was for a different reason. You know, our our family wants to travel. Um, our family um, you know, has different different view vantage points viewpoints and, you know, we although I think we do a pretty good job of reflecting what the community's desires are here. You just sometimes there are folks that um, want something different. Um, what were some other reasons
033that we heard >> like Attendance. >> Attendance. Yes. >> If they've missed a lot of days or like I'd rather just homeschool my child and then I don't have to worry about attendance. >> I would just say freedom of schedule, freedom of attendance. Like there's not accountability with things. There's more openness. So our numbers that we don't capture coming to school count that >> um so we can't reflect that as loss because if they never enroll um then they're not one of ours and >> so those are just ones that have enrolled at some point. >> Exactly. >> They're not ones that are in the community that we have to >> correct >> account for. And we can account for kids that go to private schools that never enroll because they they do get assigned
034a number. U but the Amish schools they they don't get assigned a state number. So we never can really figure out how many those students are are are out there as well. Other questions? You guys are asking great ones. These are things that we stay awake thinking about. So but again our hope is that we're starting to level out. Um we kind of predicted and anticipated that we start to see a little bit of a level and then hopefully start to see a little bit of a increase um just because our our outgoing numbers or going numbers are no longer vastly different. Our our senior seniors leaving the cohorts are getting very very similar now to the kindergarten kids that are coming in. All right. Well, if you guys have any other solutions you want
035to offer, please email them to me. will gladly take them. Um, last item on the agenda, we saved the best for last. We brought in April Flynn. Um, with [clears throat] policy analytics, um, her organization ran a study for us on what the impacts of the property tax reform law, Senate roll back one, which was passed this past legislative session. And, uh, we thought it was important for us to get a good look at what we can anticipate moving forward. Um, and so we reached out to April and she was gracious enough to come in and do the study for us. So with that, I'm going to hand off to April and you can educate us again and educate the board. So >> great, thank you. Well, thank you for having me. Um, again, April
036Clearling, Policy Analytics. Um, we are based out of Indianapolis, but I am based out of Warsaw, so I work remotely serving Northern Indiana. Um, and talking about Senate Rule Act One, all of these changes are impacting districts across the state. Um, we have homestead deductions that are changing. We have the 2% uh 2% cap tax class deductions that are being phased in that were not there prior. Um, we have a homestead credit that's being introduced. Then we have some business personal property tax changes. Um, anything that's under $2 million is being pulled out of the net assessed value calculation. Used to be 80,000 and below. They bumped it up to 2 million. And then there's also a um a deduction floor, I'm sorry, an exemption floor. Um prior to Senate ruled act one, equipment could
037follow the depreciation scale down to 30% and flatline and be taxed on that amount. Well, now it can some can depreciate down close to zero. And so we don't know in this report. We can pull the u business personal um equipment that is 20 two million and below, but we can't forecast what districts or businesses are going to do in the future with following that appreciation scale down to zero. They're going to get creative um to save dollars on taxes for their business. Um and then there's some other smaller changes, but really the majority of this is creating newer deductions or increasing deductions are going to have an impact on our net assessed value. Jessica, would you mind going to the next slide, please? Um, so looking at this kind of has a lot of
038information in one, and I'm going to try to keep us as as focused in as possible here. Um, the top line is your gross assessed value, and as you can see, the the blue the top green line is your gross assessed value. The blue line is your net assessed value. And they've kind of followed each other parallel um over the past few years. Well, with Senate Rolled Act One, these newly created deductions or um increasing deductions until 2031 drives down that net assessed value. And as you can see, we are projecting about a decrease of about 2% um on average over the next 5 years until we have a new newly established deduction base for homesteads and the 2% uh class category. So, so why is that important? Well, net assessed value times your tax
039rate gets you get you your um certified levies. And when we take our certified levies, then we have to subtract out our circuit breaker loss to get our net levies. And our net levies are the revenue we receive from our property taxes. So kind of a big calculation there. So if you'll go to the next slide, Jessica, if we talk about net assessed value decreasing, that's kind of the first impact to the district. So driving that assessed value down um plays with the tax rate tax levy calculation. Um instead of you know managing to a tax rate it's we need to look at more of a levy based scenario and we'll look at that coming up. But as we're looking at this slide here, this slide is um just kind of a one pager to
040talk about your traditional circuit breaker loss and then the newly added homestead credit. So, we talked deductions. Now, we're going to talk credit. So, this is a credit to the homeowner's um tax liability. And so, what it essentially does is it creates an additional unfunded credit. So, revenue that the district is not going to be receiving. So, um we take our data based on parcel level. So, we pull all of the county data parcel by [clears throat] parcel looking at what deductions that they have filed and we and we pull all the all of this into the report. So if you see from 2025 the um unfunded credits are really the majority of that traditional circuit breaker loss um to the operations fund that maybe blue is operations fund orange is debt service green is
041referendum as you can see in 25 debt service and referendum they're protected from the traditional circuit breaker well in 2026 when this new credit is implemented they either forgot or nobody put it in legislation to protect the debt service fund. It is in legisl legislation right now. Um we just don't know if it's going to impact in 26 or 27. Um language right now says uh July 1 of 26, but does that mean it's in effect in July 427's budgets? Um so they're still working through that. But um focusing in on this, if the debt service fund is not protected in 2026, you can see the impact to the debt service fund. Um sorry to try to look uh from afar. I knew my eyes would uh um let's see. 319,000 for debt service fund.
042>> You want to do it? >> No, it's okay. It's good. It's good. Um I was like, goodness. I Okay, there we go. 319,000 will impact the debt service fund. Thank you, Jessica. So, in 2026, if they don't change it for 2026, debt service fund will see a loss of revenue of 319K. The operations fund will see an additional loss of 320K. So, looking at that there, you're um just under um a million dollars now going to be impacting your operations um revenue. Um but then when they when we look at 27 as those um you know unfunded credits traditional circuit breaker grow and if they protect that entire um debt service fund in 2027 that entire 1.4 million impact will then hit your operations fund. So um boiling this down um sea 1 creates
043new deductions and credits um driving down our overall revenues or flatline revenues. Um just one last thing on this chart going from 27 to 28 we see a big jump there and that is due to the lit changes. The the lit changes are very county specific and not not every district in the state receives um certified shares or property tax relief credit. Um, you guys here received both unfortunately and it's not in our report here, but the certified shares portion is a check that is received by the district directly from the county. Um, and it's roughly $400,000 for 2026. So, that will be going away in 2027 unless they make any legislation changes. And then they have a property tax relief credit that is applied to homeowners. That's why you see that bump in 2028
044because the homeowners that are above their tax caps right now, re the county still pays that property tax relief credit and the district still receives those dollars, but that will be going away and becoming um an another unfunded credit um additional unfunded credits for the district. So, so looking at this, this is saying, okay, this is revenue that we're not going to be receiving. And if we look at the next slide, Jessica, it kind of pulls all of this into a um into a one-page summary. So you can see at the top of the slide, we have modeled the certified levies. You've got your operating referendum, your debt service levy, and your operations levy. So for the assumption that in assumptions in this report we have um kept your debt service levy from 2026 flat
045going forward and the operation certified levy would follow the four um 4% maximum levy growth quotient. Um and then if you kind of look at the next line down the unfunded credits this is direct revenue. This is just the numbers behind what we were just looking at. Um revenue that the district will not be receiving. So, if you take your certified levies, subtract your unfunded credits, that's what gets you your net levies. And that's what the most important is what is happening to our revenues um over the next few years because this is not just a one or twoyear impact. This is a fiveyear impact. Um and if you look at the change from 25 to 26, operations fund is is pretty flat at 6.7 million. 27, we do show the projected growth of 6.9.
046But remember, if they protect that debt service fund in 2027, you could have that 300,000 um impact the debt service. So, you would essentially be seeing less revenue in 2027 than you are in 2026 at about 6.6 million. And then again in 2028, if you subtract out an additional 300K, you're at about 6.7 million. So essentially I'm going to call this a slight decrease in 27 for revenue but overall majority flatlined over the next 3 to four years. Then you do start to see it um increase slightly but at a much slower rate than it would prior to Senate enrolled act one. And then lastly talking about tax rates. So, as we talked about net assessed value decreasing, tax rates are going to have to increase if the net assessed value is decreasing just to
047get either flatlined revenues or [clears throat] even slightly decreased revenues than prior. So, um so really majority of this I'm going to wrap it up quickly because I know uh everybody's ready to get home tonight. Um the majority of these changes directly affect schools revenues overall. flatlined revenues. That's when you have to get creative. We can't The only thing that we can do um to offset um flatline revenue is um reducing cost um expenditures or um trying to create additional revenue from outside sources. So, um, looking at looking at these slides here, I guess one last one, Jessica, just to give you like a line graph visual of what's happening to your operations fund, you could see that relatively flat over the next three to four years and then it starts to slightly uptick. So,
048um, that is SCA1 in a very very quick boiled down nutshell. Um, but are there any questions from the board? And again, this is happening to every district across the state. It's just their impact is a little bit different. So, it's, you know, this is what um I love about what we get to do is because everybody's different. And it can be, you know, huge for those maybe up in Lake County that have high circuit breaker loss than there's in some counties they have no circuit breaker loss. Um, but if they don't know what's coming over the next five years, it's going into it blindly. There's nothing else that's making up the difference. >> Um, no, [laughter] there are things that you could do locally, but there the legislature is not going to rescue us
049from this. Um, they may take a look at lit in 2027. Um, but with any legislation, I would not hold my breath. I would see what happens when it comes. the you said that changes county specific. So like I'm assuming Elart versus Kaziasco County. I figured in on that on your assessment. >> Yeah. Kaziasco has a method no certified shares and no property tax relief credit. So that's I was the CFO at Warsaw uh prior to joining policy analytics and I was like what what is this? What is this property tax relief credit and certified shares? And I was like I guess I didn't know about this. And then talking Elcart County, they have about um it's roughly 18 million in property tax relief credit that they give um Elcart County. >> So unfortunately that
050just doesn't help us very much because we're so heavy Elkart County on that, right? >> Yeah. Yeah. And and for your size of district, a 300 or I'm sorry, a $400,000 check from the county is a decent size check that's just going to be taken away. Am I picking that up to you based on what you're saying that like we're kind of with some of those factors we're kind of I mean not necessarily well maybe worse off than some of those schools that are in those counties. Is that correct? >> Yeah, it I would say you know you're you're fortunate that your revenues are are flatlining and you're not seeing a huge decrease but they're flatlining in a highly um inflationary expenditure fund. utilities. Um, NIPCO is not going to reduce their 10 to 16%
051increases. Um, technology, um, you know, water, all the utilities, they're they don't decrease. And to see a decrease or flatline in revenue is is pretty tough. >> Nobody wants to work for less, right? >> We haven't found many. pay. >> But again, as um we've kind of discussed this with our current bond issuance, that's where you're going to see a lot more historically operational type expenses. They're going to get pushed into new debt that we're that we um anticipate we'll be taking out. And so this year, we purchased four school buses out of our um debt. And it's the first year I've been here that we've done that. and um that's probably going to be the norm moving forward um along with other um operational type expenses that we can purchase out of debt service.
052So that will help us spare as much of our operations budget as possible because you know NIPCO is not going to say hey we're going to give you a big cut. >> So but I do again I want to just thank April. Um this is not an easy there is no way Jessica and I could have possibly projected this um other than it's going to be bad. So having April and policy analysts come in and do a parcel by parcel study to really show us as best we can project um how we should anticipate and plan for the future was was really helpful. So definitely appreciate April doing that. >> And we'll have a budget order update. we update this because the deductions, you know, homes are selling all the time, new deductions are being
053filed, and so we'll have an updated report um for the for the team um the next couple of months and just kind of continuing to refresh this data and make sure it's the most accurate. >> I want to commend the board. I mean, the last salt tiger was brought in here, you guys. So, >> I'm just teasing April nervous. I mean, it doesn't surprise me. [laughter] >> Yeah. Which one? >> You guys are on good behavior, so I appreciate that. >> Well, I I was hoping and I wasn't I wasn't going to say anything, but my dad is Roger Zens, so I thought I Okay, if there's that connection, yes, I'm from Warsaw, but you know, Ronnie was very good to our family. So, >> yeah. >> Awesome. All right. Any other questions for >>
054Thank you so much. >> Thank you. And that's all we have tonight. There being no further business, come attention to the board. A motion to adjourn is to order. >> Some moved. >> Second. [laughter] >> Got a motion from Trevor and a second from Christina. All those in favor signify by saying >> I. All those post say thank you. >> All right.