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 2018):
  • O. Bonds ($1,990,000) to support technology projects
  • O. Bonds ($1,990,000) to support CPF projects
  • O. Bonds ($1,990,000) to support miscellaneous renovations
• Elimination of bonds (last payment in 2017):
  • 2010 G.O. Bonds ($1,970,000) for technology
  • 2011 G.O. Bonds ($490,000) for science textbooks & technology
  • 2014 G.O. Bonds ($1,970,000) for the IT Center
  • 2015 G.O. Bonds ($1,990,000) to support CPF projects
  • 2015 G.O. Bonds ($1,990,000) to support technology projects
  • 2015 G.O. Bonds ($1,990,000) for PGES renovations
• Refinancing of bonds
  • None in 2017 or 2018
• Approximately $62,000 in interest on Tax Warrants
• Approximately $197,000 in un-reimbursed textbook fee collection

Tax Rate/Levy Assumptions:

• All funding comes from local sources.
• FIT, Excise, and CVET taxes are projected to be about the same in 2018 as they were in 2017.
• The tax rate is computed on State Form 4. The levy will be whatever is required to raise needed revenue.