NOTICE TO TAXPAYERS Complete details of the Bus Replacement Fund plan may be seen by visiting the office of this unit of government at the following address: 29125 County Road 22, Elkhart, IN 46517. Notice is hereby given to taxpayers of Baugo Community Schools that the proper officers of Baugo Community Schools will conduct a public hearing on the year 2017 proposed Bus Replacement Fund Plan pursuant to IC 20-46-5. Following the public hearing, the proper officers of Baugo Community Schools may adopt the proposed plan as presented or with revisions. Public Hearing Date: September 12, 2016 Public Hearing Time: 7:00 P.M. Public Hearing Place: 29125 County Road 22, Elkhart, IN 46517 Taxpayers are invited to attend the meeting for a detailed explanation of the plan and to exercise their rights to be heard on the proposed plan. If the proposed plan is adopted by resolution, such plan will be submitted to the Department of Local Government Finance for approval. The following is a general outline of the proposed plan: No. of Buses No. of Buses Total Estimated Total Contract Year Owned to be Replaced Replacement Cost Costs 2017 21 2 140,984 2018 21 1 12,411 2019 21 2 107,649 2020 21 1 138,906 2021 21 1 142,795 2022 21 3 290,595 2023 21 3 357,931 2024 21 2 184,445 2025 21 1 63,524 2026 21 2 188,935 2027 21 2 192,023 2028 21 1 69,011 **************************************************************************************************** The proposed plan includes additional school buses or school buses with larger seating capacity as compared with the prior school year. Evidence of a demand for increased transportation services is detailed in the proposed plan. School corporation certifies/affirms that the additional buses it plans to acquire are for the purpose of replacement or having larger seating capacity. Number of Additional Buses: 1 Cost of Additional Buses: $90,000 **************************************************************************************************** The proposed plan includes the replacement of a school bus earlier than its anticipated replacement date. Evidence of need for replacement is detailed in the proposed plan. **************************************************************************************************** SOURCES AND ESTIMATES OF REVENUE 2017 1) Projected January 1 Cash Balance 210,000 2) Less: Encumbrances Carried Forward from Previous Year 165,000 3) Estimated Cash Balance Available for Plan (Line 1 minus Line 2) 45,000 4) Property Tax Revenue 175,000 5) Estimated Property Tax Cap Credits (show as a negative) (2,820) 6) Auto Excise, CVET and FIT receipts 10,000 7) Other Revenue TOTAL FUNDS AVAILABLE FOR PLAN (Add lines 3, 4, 5 and 6) 227,180 September 1 hspaxlp
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