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Notice to Taxpayers - PH Cap Projects Fund

Resource

NOTICE OF ADOPTION

Notice is hereby given to the taxpayers of Prairie Heights Community School Corporation School Corporation of LaGrange/Steu County, Indiana, that the Board of School Trustees has established a Capital Projects Fund and adopted a plan under I.C.20-46-6-5. The following is a general outline of the proposed plan:

CURRENT EXPENDITURES: 2013 2014 2015

1) Land Acquisition and Development - - -

2) Professional Services 28,000 28,000 30,000

3) Education Specifications Development - - -

4) Building Acquisition, Construction,

and Improvement

(includes 45200 and 45300) 538,000 528,000 360,000

5) Rental of Buildings, Facilities

and Equipment 70,000 70,000 70,000

6) Purchase of Mobile or Fixed Equipment 93,000 103,000 228,000

7) Emergency Allocations (Other facilities

Acquisition and Construction) 25,000 25,000 23,000

8) Utilities (Maintenance of Buildings) 225,000 225,000 225,000

9) Maintenance of Equipment 230,000 230,000 268,500

10) Sports Facility 21,500 21,500 21,500

11) Property or casualty insurance 150,000 150,000 150,000

12) Other Operation and Maintenance of

Plant - - -

13) Technology

Instruction – Related Technology 479,500 279,500 279,500

Administrative Technology Services - 200,000 209,000

SUB-TOTAL CURRENT EXPENDITURES 1,860,000 1,860,000 1,864,500

14) Allocation for Future Projects - - -

15) Transfer From One Fund to Another - - -

TOTAL EXPENDITURES, ALLOC,

& TRANSFERS 1,860,000 1,860,000 1,864,500

SOURCES AND ESTIMATES OF REVENUE

1) Projected January 1 Cash Balance - - -

2) Less Encumbrances Carried

Forward From Previous Year - - -

3) Estimated cash balance
available for plan (Line 1-Line2) - - -

4) Property tax revenue 1,811,500 1,700,000 1,700,000

5) Auto Excise, CVET and FIT receipts 98,500 100,000 100,000

6) Other revenue (interest income) - - -

TOTAL FUNDS AVAILABLE FOR PLAN
(Add lines 3,4,5,6) 1,910,000 1,800,000 1,800,000

Estimated property tax rate to fund plan 0.3178 0.2982 0.2982

Based upon as assessed valuation of: 570,000,000 570,000,000 570,000,000

This notice includes allocations for the years 2013, 2014 and 2015 for the following construction projects:

Building Allocation 2013 Allocation 2014 Allocation 2015

____________ ____________ ____________ ____________

Allocations as specified above will be duly subject to objection during the period stated in this Notice of Adoption.

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TO BE PUBLISHED IN YEARS AFTER THE FIRST YEAR

This notice includes allocations for the years 2013, 2014 and 2015 for the following construction projects, which have previously been subject to the taxpayer objections.

Building Allocation 2013 Allocation 2014 Allocation 2015

____________ ____________ ____________ ____________

Allocations as specified above are not eligible to be contested by the objection during the period stated in this Notice of Adoption.

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Ten or more taxpayers in the school corporation who will be affected by the plan may file a petition with the County Auditor of LaGrange/Steu 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, which Department will fix a date and conduct a public hearing on the plan before issuing its approval or disapproval thereof.

BOARD PRESIDENT Mike Howe

VICE PRESIDENT Bob Ledgerwood

SECRETARY Janet Grabill

MEMBER Mark Thrasher

MEMBER Todd Perkins

LC 74 N19