The Plymouth Community School Corporation’s 2020 budget was adopted during Tuesday’s school board meeting. It calls for a total budget of more than $36 million. Just over $20 million of that is the Education Fund, with an Operations Fund of more than $9 million. Business Manager Kandi Tinkey said she anticipates the total tax rate to be about 1.16 percent, up from just over 1.1 percent.
Meanwhile, the amount of revenue lost to property tax caps is expected to be less than the state initially thought. Tinkey said the Department of Local Government Finance had projected that figure to be about $1.4 million, but after having financial advisors review it, that amount should be about $865,000. One of the budget adoption resolutions passed by the board formally authorized school officials to use that lower projection.
Under another resolution, board members agreed to split the school corporation’s share of Marshall County’s local income tax revenues between the Debt Service and Operations funds. The Plymouth Community School Corporation’s 2020 budget now goes to the DLGF for final approval.
