Center Grove

Revenue Assumptions:

• The tax rate will be set to generate the funds needed for the revenue plan.
• The state has developed a formula for determining what our year-end cash balance can be. We have shown this calculation on the Debt Service Worksheet.
  

Expenditure Assumptions:

• See DLGF worksheet
• Addition of new bonds (first payment in 2022):
  • G.O. Bonds ($5,500,000) to support CPF projects and technology projects
  • G.O. Bonds ($5,500,000) for PGES Phase II and miscellaneous building improvement projects
  • Bonds ($5,170,000) for construction of the Emergency Operations Center
• Elimination of bonds (last payment in 2021):
  • 2019 G.O. Bonds ($4,800,000) to support CPF and technology projects
  • 1996 Common School Loan ($1,800,000) to remodel the high school
• Approximately $81,000 in interest on Tax Warrants
• Approximately $161,000 in un-reimbursed textbook fee collection
  

Tax Rate/Levy Assumptions:

• All funding comes from local sources.
• FIT, CVET, and Excise taxes are projected to be about the same percentage in 2022 as they were in
  2021.
• The tax rate is computed on State Form 4. The levy will be whatever is required to raise needed revenue.