Culver Community School Business Manager/Treasurer Casey Howard told the school board members Monday night that she received the 1782 budget order notice from the Department of Local Government Finance and she was happy with the report.
The final budget of all funds totals $15,315,659 with a tax rate of .61 which is an increase of .0202.
There was $3,000 less in the Debt Service Fund. The school corporation submits its budget based on estimated figures and the notice has actual numbers with an approved budget. Howard explained that the $3,000 loss is because of what was estimated.
The Operations Fund was reduced $500,000 due to cash on hand. Howard explained that the majority of that cut will come from Capital Projects.
The property tax cap will result in a $21,000 loss in 2023.
Howard stated the levy increased $728,000. She noted that the levy typically increases every year.
Overall, the 2023 budget is $234,000 less than in 2022, but some of it has to do with Debt Service.
