The Plymouth Community School Corporation will begin advertising its 2016 fiscal year budget.
School Board members held a special budget work session meeting on Tuesday night to discuss projected revenues, as well as the projected costs associated with carrying out operations. General Fund expenditures will largely remain flat next year at $25-million.
Accounts funded through the property tax levy are also projected to stay flat on the expense side. A $50-thousand up-tick is anticipated in school bus replacement costs compared to the previous year. Capital projects, however, will drop by about $300-thousand.
The school corporation intends to advertise its property tax levy rates higher in an attempt to garner as much revenue as possible. Actual rates are revised by the Department of Local Government Finance. For instance, in 2015 property taxes paid into the school corporation’s debt service fund were advertised at nearly 45-cents per $100 of assessed valuation, but the DLGF only approved 42.5-cents.
School Board members agreed to advertise the budget. Adoption will take place later this year.
