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home : public notices : public notices June 26, 2016

10/4/2012 8:00:00 AM
Notice of Adoption

Notice is hereby given to the taxpayers of the Caston School Corporation of Fulton and Cass 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:

2013 2014 2015

Current Expenditures:

(1) Land Acquisition &

Development -0- -0- -0-

(2) Professional Services 420 420 420

(3) Education Specifications

Development -0- -0- -0-

(4) Building Acquisition, Construction,

Improvement 500,000 525,000 551,250

(includes 45200 and 45300)

(5) Rental of Buildings, Facilities &

Equipment -0- -0- -0-

(6) Purchase of Mobile or

Fixed Equipment 167,500 175,875 184,669

(7) Emergency Allocation

(Other Facilities Acquisition

& Construction) 5,000 5,250 5,513

(8) Utilities (Maintenance

of Buildings) -0- -0- -0-

(9) Maintenance of

Equipment 30,000 31,500 33,075

(10) Sports Facility -0- -0- -0-

(11) Property or casualty

Insurance -0- -0- -0-

(12) Other Operation & Maintenance

of Plant -0- -0- -0-

(13) Technology

Instruction - Related

Technology 117,000 122,850 128,993

Admin Tech Services

Subtotal Current Expenditures 819,920 860,895 903,920

(14) Allocation for Future Projects

(Cumulative Totals)

(15) Transfer From One Fund

to Another

Total Expenditures & Allocations 819,920 860,895 903,920

Sources & Estimates of Revenue

(1) January 1, Cash Balance 21,368

(2) Less Encumbrances Carried

Forward From Previous Year 20,000

(3) Estimated Cash Balance Available

for Plan (Line 1 minus Line 2) 1,368 4,500 3,500

(4) Property Tax Revenue 799,000 838,950 880,898

(5) Auto Excise, CVET & FIT receipts 52,800 52,800 52,800

(6) Other Revenue (Interest income) - - -

Total funds available for plan

(Add lines 3, 4, 5, 6) 853,168 896,250 937,198

Estimated property tax rate

to fund plan 0.4272 0.4488 0.4693

Based upon an assessed

valuation of: 199,702,100 199,702,100 199,702,100

Ten or more taxpayers in the school corporation who will be affected by the plan may file a petition with the County Auditor of Fulton and Cass 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.

Dated: September 18, 2012

Dr. James Ayers, President

John J. Herd, Vice-President

Joyce E. Zartman, Secretary

Bruce E. Cress, Member

Russell B. Phillips Jr., Member

Oct. 1





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