NOTICE OF ADOPTION Notice is hereby given to taxpayers of South Madison Community School Corporation that the proper officers of South Madison Community School Corporation have established a Capital Projects Fund and adopted a plan under IC 20-46-6-5. Ten or more taxpayers in the school corporation who will be affected by the plan may file a petition with the County Auditor of Madison 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 Department of Local Government Finance. The Department will then fix a date and conduct a public hearing on the plan before issuing its approval, disapproval, or modification thereof. The following is a general outline of the adopted plan: EXPENDITURES Dept. 2017 2018 2019 1) Land Acquisition and Development 4100 2) Professional Services 4300 3) Education Specifications Development 4400 4) Building Acquisition, Construction and Improvement 4510, 4520, 4530 250,000 250,000 250,000 5) Rental of Buildings, Facilities and Equipment 4550 500,000 500,000 500,000 6) Purchase of Mobile or Fixed Equipment 4700 205,000 205,000 205,000 7) Emergency Allocation 4900 500,717 500,717 500,717 8) Utilities 2620 538,984 538,984 538,984 9) Maintenance of Equipment 2640 30,000 30,000 30,000 10) Sports Facility 4540 11) Property or Casualty Insurance 2670 150,000 150,000 150,000 12) Other Operation and Maintenance of Plant 2680 13) Technology Instruction-Related Technology 2230 395,000 395,000 395,000 Admin Tech Services 2580 SUBTOTAL CURRENT EXPENDITURES 2,569,701 2,569,701 2,569,701 14) Allocation for Future Projects 15) Transfer From One Fund to Another 6010 TOTAL EXPENDITURES, ALLOCATIONS AND TRANSFERS 2,569,701 2,569,701 2,569,701 SOURCES AND ESTIMATES OF REVENUE 1) Projected January 1 Cash Balance 97,895 185,000 305,000 2) Less: Encumbrances Carried Forward from Previous Year 3) Estimated Cash Balance Available for Plan (Line 1 minus Line 2) 97,895 185,000 305,000 4) Property Tax Revenue 2,665,600 2,284,701 2,164,701 5) Estimated Property Tax Cap Credits (show as a negative) (348,994) (100,000) (100,000) 6) Auto Excise, CVET and FIT receipts 155,200 200,000 200,000 7) Other Revenue TOTAL FUNDS AVAILABLE FOR PLAN (Add lines 3, 4, 5 and 6) 2,569,701 2,569,701 2,569,701 This notice contains future allocations for the following projects: Project - Location 2017 2018 2019 N/A _______ _______ _______ Future allocations as specified above are subject to objections during the period stated in this Notice of Adoption. HB-799 Oct. 12 hspaxlp
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