TERRE HAUTE, Ind. (WTWO/WAWV) — Vigo County School Corp. estimated a $162 million budget for 2020.
The school board voted to advertise the budget Monday.
The budget is up slightly from 2019, but officials noted they aimed high in these early stages.
“Uncertainties regarding assessed value and tax collections cause us to aim high at this stage every year,” said Bill Riley, VCSC communications director. “Our goal is to give our budget flexibility at this stage and ensure a steady tax rate.”
Riley noted that an assessed value jump from 2018 to 2019 caused a tax rate drop from 80 cents to 75 cents per $100 assessed value.
“We hope the end budget results in a more consistent school tax rate,” Riley said.
The 2019 proposed budget started out at $162 million with a final approved budget of $152 million.
The budget included $106 million in the education fund and $44 million in operations. Just over $1.5 million was earmarked for a rainy day fund, and a $10,692 was slated for a debt service fund.
A budget hearing will be held Monday, Oct. 7 with the budget to be voted on Monday, Oct. 21.
Once adopted, the budget is subject to approval by the Indiana Department of Local Government Finance before it is official.