NOTICE OF ADOPTION NOTICE TO TAXPAYERS OF WESTERN SCHOOL CORPORATION Notice is hereby given to the taxpayers of Western School Corporation of Howard County, IN that the Board of School Trustees has established a Capital Projects Fund and adopted a plan under I.C. 21-2-15. The following is a general outline of the proposed plan: CURRENT EXPENDITURES: 2017 2018 2019 Land Acquisition & Development 25320 $32,000.00 $31,500.00 $31,000.00 Fees for Professional Services 25330 $2,800.00 2,800.00 Building Construction & Improv 25350 $452,600.00 $396,290.00 $251,250.00 Rental of Bldg. & Equipment 25360 $86,000.00 $90,500.00 $86,000.00 Purchase of Mobile & Fixed 25380 $226,190.00 $179,890.00 $162,450.00 Emergency Allocation 25390 $50,000.00 $50,000.00 $50,000.00 Utility Services 25240 $415,641.00 $415,641.00 $415,641.00 Maintenance of Equipment 25440 $320,250.00 $317,350.00 $311,600.00 Sports Facility 25355 $75,000.00 $75,000.00 $75,000.00 Technology 26710 $532,894.00 $503,334.00 $434,334.00 SUBTOTAL CURRENT EXPENDITURES $2,193,375.00 $2,059,505 $1,820,075 Allocation for future projects; TRANSFER TO REPAIR & REPLACEMENT FUND Interest Transfer to General Fund TOTAL EXPENDITURES, ALLOCATIONS AND TRANSFERS $2,193,375.00 $2,059,505.00 $1,820,075.00 SOURCES AND ESTIMATES OF REVENUE: Projected cash balance, January 1st $200,000.00 $400,000.00 $400,000.00 Less encumbrances carried forward 200,000.00 400,000.00 400,000.00 Cash balance available for current Property tax revenue $2,864,248.00 $2,115,116 $2,115,876.00 Auto excise, CVET, FIT $100,000.00 $100,000.00 $100,000.00 Other Revenue TOTAL FUNDS AVAILABLE FOR PLAN: $2,964,248.00 $2,215,116.00 $2,215,876.00 Based on Assessed Valuation of: $569,898,979.00 $553,124,580.00 $553,124,580.00 The Projected tax rate for the Capital Projects Fund will be: 0.5026 0.3824 0.3825 This notice includes allocation for the years 2017, 2018 and 2019 for the following construction projects, which have previously been subject to the taxpayer objection. Building Allocation 2017 Allocation 2018 Allocation 2019 ___________________ __________ __________ __________ Allocations as specified above are not eligible to be contested by the objection during the period stated in this Notice of Adoption. Ten or more taxpayers in the school corporation who will be affected by the plan may file a petition with the County Auditor of Howard County, not later than ten (10) days after the publication of this notice, setting forth their objections to the plan. Upon filing of the petition, the County Auditor shall immediately certify the same to the State Board of Tax Commissioners which board will fix a date and conduct a public hearing on the plan before issuing its approval or disapproval thereof. Dated this 20th day of September, 2016 Conrad Maugans, President Michael Koloszar, Vice President Donna Shepherd, Secretary Harry Kenworthy, Member Donald Wells, Member Scott Gaskins, Member 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: Western School Corporation 2600 S. 600 W. Russiaville, IN 46979. Notice is hereby given to taxpayers of Western School Corporation that the proper officers of Western School Corporation 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 Western School Corporation may adopt the proposed plan as presented or with revisions. Public Hearing Date: September 20, 2016 Public Hearing Time: 6:00 p.m. Public Hearing Place: Western School Corporation Board Room, 2600 S. 600 W. Russiaville, IN 46979 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 to be Total Estimated Year No. of Buses Owned Replaced Replacement Cost Total Contract Costs 2017 35 2 $220,000 2018 35 2 $220,000 2019 35 2 $240,000 2020 35 2 $240,000 2021 35 2 $240,000 2022 35 2 $220,000 2023 35 2 $220,000 2024 35 2 $200,000 2025 35 2 $240,000 2026 35 2 $170,000 2027 35 2 $170,000 2028 35 2 $170,000 **************************************************************************************************** SOURCES AND ESTIMATES OF REVENUE 2017 1) Projected January 1 Cash Balance 8,277 2) Less: Encumbrances Carried Forward from Previous Year 3) Estimated Cash Balance Available for Plan (Line 1 minus Line 2) 8,277 4) Property Tax Revenue 294,976 5) Estimated Property Tax Cap Credits (show as a negative) 6) Auto Excise, CVET and FIT receipts 4,040 7) Other Revenue TOTAL FUNDS AVAILABLE FOR PLAN (Add lines 3, 4, 5 and 6) 307,293 K-754 Sept. 29 hspaxlp
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