2012 budget budget hearing: october 10, 2011 budget adoption: october 26, 2011

2012 BUDGET

Budget Hearing:October 10, 2011

Budget Adoption:October 26, 2011

BUDGET PRESENTATION FOCUS:

The Five Questions:1. How much will we spend and what

will we spend it on?2. How much revenue will we have

and where will it come from?3. Will our budget be balanced?4. What does all this mean to the

taxpayer?5. What is our long-term outlook?

FIRST:The Required State of

Indiana Budget Forms and

Related Budget Documents

2012 vs. 20112012 vs. 2011 Percentage

2009 2010 2011 2012 Difference

Advertised Appropriations:General Fund 41,307,402$ 38,901,646$ 37,983,786$ 36,966,522$ (1,017,264)$ -2.7%Debt Service Fund 17,572,234$ 18,603,153$ 18,695,010$ 18,812,468$ 117,458$ 0.6%Pension Bond Debt Service Fund 754,477$ 756,417$ 757,153$ 756,685$ (468)$ -0.1%Capital Projects Fund 11,182,251$ 8,182,251$ 6,689,476$ 6,671,074$ (18,402)$ -0.3%Transportation Fund 4,061,916$ 4,250,898$ 3,893,658$ 3,901,544$ 7,886$ 0.2%Bus Replacement Fund 940,379$ 1,170,448$ 941,412$ 1,212,862$ 271,450$ 28.8%Special Education Preschool Fund 789,241$ 700,000$ -$ -$ -$ 0.0%Rainy Day Fund -$ 75,000$ 100,000$ 1,600,000$ 1,500,000$ 1500.0%Referendum Fund -$ -$ 5,840,000$ -$ (5,840,000)$ -100.0%

Totals $76,607,900 $72,639,813 $74,900,495 $69,921,155 (4,979,340)$ -6.6%

Advertised Levies:General Fund 9,995,140$ 6,805,502$ -$ -$ -$ 0.0%Debt Service Fund 16,066,312$ 18,490,537$ 18,549,959$ 20,050,434$ 1,500,475$ 8.1%Pension Bond Debt Service Fund 685,543$ 740,967$ 698,205$ 794,400$ 96,195$ 13.8%Capital Projects Fund 8,722,161$ 6,356,892$ 6,990,888$ 6,127,852$ (863,036)$ -12.3%Transportation Fund 3,828,285$ 4,940,885$ 2,927,197$ 3,623,863$ 696,666$ 23.8%Bus Replacement Fund 901,830$ 1,652,275$ 790,977$ 1,359,514$ 568,537$ 71.9%Special Education Preschool Fund 551,095$ 576,528$ -$ -$ -$ 0.0%Rainy Day Fund -$ -$ -$ -$ -$ 0.0%Referendum Fund -$ -$ 5,840,000$ -$ (5,840,000)$ -100.0%

Totals $40,750,366 $39,563,584 $35,797,226 $31,956,063 (3,841,163)$ -10.7%

Advertised Tax Rates General Fund 1.8683$ 0.0100$ -$ -$ -$ 0.0%Debt Service Fund 0.9635$ 1.0662$ 0.9478$ 1.0352$ 0.0874$ 9.2%Pension Bond Debt Service Fund 0.1133$ 0.1387$ 0.0357$ 0.0410$ 0.0053$ 14.9%Capital Projects Fund 0.5811$ 0.3322$ 0.3572$ 0.3164$ (0.0408)$ -11.4%Transportation Fund 0.2415$ 0.2582$ 0.1496$ 0.1871$ 0.0375$ 25.1%Bus Replacement Fund 0.0890$ 0.0863$ 0.0404$ 0.0702$ 0.0298$ 73.7%Special Education Preschool Fund -$ -$ -$ -$ -$ 0.0%Rainy Day Fund -$ -$ -$ -$ -$ 0.0%Referendum Fund -$ -$ 0.2950$ -$ (0.2950)$ -100.0%

Totals 3.8567$ 1.8916$ 1.8257$ 1.6499$ (0.1758)$ -9.6%

Zionsville Community SchoolsSummary Comparison of Advertised 2012 Budget to Advertised Budgets 2009 - 2011

2012 vs. 20112011 2012 Difference

Advertised Appropriations:General Fund 37,983,786$ 36,966,522$ (1,017,264)$ Debt Service Fund 18,695,010$ 18,812,468$ 117,458$ Pension Bond Debt Service Fund 757,153$ 756,685$ (468)$ Capital Projects Fund 6,689,476$ 6,671,074$ (18,402)$ Transportation Fund 3,893,658$ 3,901,544$ 7,886$ Bus Replacement Fund 941,412$ 1,212,862$ 271,450$ Special Education Preschool Fund -$ -$ -$ Rainy Day Fund 100,000$ 1,600,000$ 1,500,000$ Referendum Fund 5,840,000$ -$ (5,840,000)$

Totals $74,900,495 $69,921,155 (4,979,340)$

Advertised Levies:General Fund -$ -$ -$ Debt Service Fund 18,549,959$ 20,050,434$ 1,500,475$ Pension Bond Debt Service Fund 698,205$ 794,400$ 96,195$ Capital Projects Fund 6,990,888$ 6,127,852$ (863,036)$ Transportation Fund 2,927,197$ 3,623,863$ 696,666$ Bus Replacement Fund 790,977$ 1,359,514$ 568,537$ Special Education Preschool Fund -$ -$ -$ Rainy Day Fund -$ -$ -$ Referendum Fund 5,840,000$ -$ (5,840,000)$

Totals $35,797,226 $31,956,063 (3,841,163)$

Advertised Tax Rates General Fund -$ -$ -$ Debt Service Fund 0.9478$ 1.0352$ 0.0874$ Pension Bond Debt Service Fund 0.0357$ 0.0410$ 0.0053$ Capital Projects Fund 0.3572$ 0.3164$ (0.0408)$ Transportation Fund 0.1496$ 0.1871$ 0.0375$ Bus Replacement Fund 0.0404$ 0.0702$ 0.0298$ Special Education Preschool Fund -$ -$ -$ Rainy Day Fund -$ -$ -$ Referendum Fund 0.2950$ -$ (0.2950)$

Totals 1.8257$ 1.6499$ (0.1758)$

State Form 1 (Condensed)

PRESCRIBED BY DEPARTMENT OF LOCAL GOVERNMENT FINANCE School Budget Form No. 1 (Rev 06/11)

APPROVED BY STATE BOARD OF ACCOUNTS

20 4ID YEAR CO TYP E KEY

County, Indiana Year

0100 GENERAL FUND

10000 INSTRUCTION

11000 Regular Programs

11100 Elementary 7,984,393

11200 Middle/Junior High 6,575,098

11300 High School 5,830,334

12000 Special Programs

12230 Severe Mental Disabilities 15,750

12410 Emotional Disabilities-Full Time 21,791

12510 Communication Disorders 90,000

12610 Learning Disability 3,312,346

12810 Special Education Preschool 243,684

14000 Summer School Programs

14300 High School 135,000

16000 Remediation Programs

16100 Remediation Testing 44,784

16200 Preventative Remediation 47,000

17000 Payments to Other Governmental Units Within the State

17300 Area Vocational School (Participate Share) 115,000

17400 Joint Services and Supply - Special Education 645,000

17600 Joint Service and Supply - Other 32,500

20000 SUPPORT SERVICES

21000 Support Services - Students

21200 Guidance Services

21220 Counseling Services 1,308,946

21300 Health Services

21340 Nurse Services 355,000

21390 Other Health Services 52,500

21500 Speech Pathology and Audiology Services

21520 Speech Pathology Services 1,500

21800 Special Education Administration

21810 Service Area Direction 220,563

SCHOOL CORPORATION BUDGET ESTIMATE

Zionsville Community Schools Boone 2012(School Corporation)


22000 Support Services - Instruction

22100 Improvement of Instruction

22120 Instruction and Curriculum Development 63,731

22130 Instructional Staff Training 16,500

22200 Library/Media Services

22220 School Library 592,653

23000 Support Services - General Administration

23100 Board of Education


23150 Legal Services 65,000

23160 Promotion Expenses 5,429

23190 Other Governing Body Services 13,000

23200 Executive Administration

23210 Office of the Superintendent 415,129

23220 Community Relations 1,000

23230 Staff Relations and Negotiations 1,000

23290 Other Executive Admin. Services 5,000

24000 Support Services - School Administration

24100 Office of the Principal 2,496,599

25000 Central Services

25100 Fiscal Services


25140 Receiving and Disbursing Funds 442,348

25190 Other Fiscal Services

25191 Refund of Revenue 5,000

25200 Purchasing, Warehousing, and Dist. Services

25220 Purchasing 59,951

25700 Personnel Services

25710 Supervision of Personnel Services 115,330

25730 Personnel Services 269,323

26000 Operation and Maintenance of Plant Services


26200 Maintenance of Buildings 4,208,081

26300 Maintenance of Grounds 30,500

26400 Maintenance of Equipment 56,000

26500 Vehicle Maintenance (not buses) 67,880

26700 Insurance 150,000

33000 Community Service Operations

33400 Athletic Coaches 306,135

33990 Other 113,847

TOTAL GENERAL FUND 36,966,522$


0200 DEBT SERVICE FUND

50000 DEBT SERVICES

52000 Interest on Debt

52200 Temporary Loans 234,468

53000 Lease Rental

53100 Buildings - Principal 9,510,000

53150 Buildings - Interest 8,993,000

60000 Non Programmed Charges

60500 Debt Service - TBR Transfers 75,000

TOTAL DEBT SERVICE FUND 18,812,468$

50000 DEBT SERVICES

51000 Principal on Debt

51100 Bonds 355,000

52000 Interest on Debt

52100 Bonds 401,685

TOTAL RETIREMENT/SEVERANCE BOND DEBT SERVICE FUND 756,685$

20000 SUPPORT SERVICES

22000 Support Services - Instruction

22300 Instruction - Related Technology

22310 Technology Service Supervision and Admin. 392,788

22320 Student Learning Centers 380,128

22330 Systems Analysis and Planning 64,599

22370 Hardware Maint. and Support 507,914

22380 Prof. Devel. for Instruction-Focused

Technology Personnel 50,000

26000 Operation and Maintenance of Plant Services

26200 Maintenance of Buildings (Utilities) 675,000

26400 Maintenance of Equipment 410,000

26700 Insurance 300,000

0350 CAPITAL PROJECTS FUND

0250 RETIREMENT/SEVERANCE BOND DEBT SERVICE FUND


40000 FACILITIES ACQUISITION AND CONSTRUCTION

41000 Land Acquisition and Development 50,000

43000 Professional Services 295,000

44000 Educational Specifications Development 50,000

45100 Building Acquisition, Const. and Imp. 1,393,936

45200 Energy Savings Contracts 400,600

45400 Sports Facilities 200,000

45500 Rent of Buildings, Facilities and Equip. 10,000

47000 Purchase of Mobile or Fixed Equipment 741,109

49000 Other Facilities Acq. And Const. 750,000

TOTAL CAPITAL PROJECTS FUND 6,671,074$

27000 Student Transportation


27100 Vehicle Operation 2,514,044

27200 Monitoring Services 111,000

27300 Vehicle Servicing and Maintenance 935,500

27500 Insurance on Buses 125,000

27700 Contracted Transportation Services 25,000

27900 Other Student Transportation Services 116,000

TOTAL SCHOOL TRANSPORTATION FUND 3,901,544$

27000 Student Transportation

27400 Purchase of School Buses 1,212,862

TOTAL SCHOOL BUS REPLACEMENT FUND 1,212,862$

10000 INSTRUCTION

11000 Regular Programs

11100 Elementary 600,000

11200 Middle/Junior High 500,000

11300 High School 500,000

TOTAL RAINY DAY FUND 1,600,000$

0610 RAINY DAY FUND

0410 SCHOOL TRANSPORTATION FUND

0420 SCHOOL BUS REPLACEMENT FUND

State Form 1SPRESCRIBED BY DEPARTMENT OF LOCAL GOVERNMENT FINANCE School Budget Form No. 1-SAPPROVED BY STATE BOARD OF ACCOUNTS Revised 06/11

, County, Indiana Date

Account Number

Program

11025: Non Spec Ed Preschool

11050: Full Day Kindergarten

11100: Elementary 7,984,393 5,765,466 2,142,418 2,000 74,509

11200: Middle/Jr. High 6,575,098 4,718,278 1,809,820 2,000 45,000

11300: High School 5,830,334 4,227,345 1,530,489 5,000 67,500

11400: Vocational Education

11500: Vocational Education

11600: Alternative Education Programs

11900: Other Regular Programs

12000: Instruction - Special Programs 3,683,571 2,576,843 873,436 173,274 15,000 10,500 34,518

13000: Instruction - Adult/Continuing Education Programs

14000: Summer School Programs 135,000 135,000

15000: Enrichment Programs

16000: Remediation 91,784 39,000 3,284 49,500

17000: Payments to Other Governmental Units Within State 792,500 677,500 115,00018000: Payments to Governmental Units Outside State

21000: Support Services - Students 1,938,509 1,136,840 389,169 399,000 13,500

22000: Support Services - Instruction 672,884 439,813 104,571 45,000 5,000 78,500

23000: Support Services - General Administration 531,823 265,361 155,033 71,429 15,500 18,500 6,000

24000: Support Services - School Administration 2,496,599 1,801,734 689,865 2,500 2,500

25000: Central Services 1,145,873 764,213 252,209 5,000 44,000 80,451

26000: Operation and Maintenance of Plant Services 4,668,172 664,711 284,381 1,913,700 202,880 1,547,500 55,000

27000: Student Transportation

30000: Operation of Noninstructional Services 419,982 318,397 45,492 56,093

40000: Facilities Acquisition and Construction

50000: Debt Services

60000: Nonprogrammed Charges

Totals 36,966,522 22,718,001 8,280,167 1,424,796 2,068,700 404,380 2,009,478 55,000 6,000

GENERAL FUNDSUPPLEMENTAL BUDGET ESTIMATE

BY PROGRAM/OBJECT

Supplies

600

Property

700

Purchased Property Services

400

Other Purchased Services

Zionsville Community Schools Boone August 8, 2011

Other Objects

800

Personal Services - Salaries

100 500

Personal Services - Employee

Benefits

200Purchased

Professional and Technical Services

300

SUPPORT SERVICES

INSTRUCTION

School Corporation

Total

Object


PRESCRIBED BY DEPARTMENT OF LOCAL GOVERNMENT FINANCE School Budget Form No. 2 (Rev 06/11)APPROVED BY STATE BOARD OF ACCOUNTS

4ID YEAR CO TYPE KEY

COUNTYSCHOOL CORPORATION

2012

ESTIMATED AMOUNTS TO BE RECEIVED-A- X -B- X

July 1, 2011 Jan 1, 2012to to

Dec 31, 2011 Dec. 31, 20121000 REVENUE FROM LOCAL SOURCES1211 License Excise Tax XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX1212 Commercial Vehicle Excise Tax (CVET) XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX1231 Financial Institution Tax XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX1232 Local Option - Property Tax Replacement XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX1510 Interest on Investments 50,000$ 100,000$ 1741 Student and Adult 25,000$ 30,000$ 1742 Other Fees 500,000$ 500,000$ 1760 Receipts from Extra-Curricular Accounts 50,000$ 75,000$ 1910 Rentals 100,000$ 200,000$ 1994 Other Overpayments and Reimbursements 20,000$ 25,000$ 1999 Other 122,000$ 122,000$ 3000 REVENUE FROM STATE SOURCES3111 Basic Grant 16,051,090$ 31,785,265$ 3114 Summer School 133,000$ 133,000$ 3115 Evening and Part-Time School 10,000$ 25,000$ 3199 Remediation/Preventive Remediation Programs 15,000$ 30,000$ 3230 Gifted and Talented 25,000$ 3280 Professional Development Grants 25,000$

Totals - General Fund (Columns A and B) 17,076,090$ 33,075,265$

Zionsville Community Schools Boone

ESTIMATE OF MISCELLANEOUS REVENUES

FROM SOURCES OTHER THAN GENERAL PROPERTY TAXES

FOR USE IN PREPARATION OF ESTIMATE OF FUNDS TO BE RAISED, YEAR

0100 GENERAL FUND Department of Local

Government Finance

Department of Local

Government Finance


1211 License Excise Tax 480,327$ 1,085,643$ 1212 Commercial Vehicle Excise Tax (CVET) 13,310$ 26,619$ 1231 Financial Institution Tax 5,691$ 11,382$

499,328$ 1,123,644$

1211 License Excise Tax 19,361$ 43,761$ 1212 Commercial Vehicle Excise Tax (CVET) 537$ 1,073$ 1231 Financial Institution Tax 230$ 459$

20,128$ 45,293$

1211 License Excise Tax 113,223$ 255,909$ 1212 Commercial Vehicle Excise Tax (CVET) 3,138$ 6,275$ 1231 Financial Institution Tax 1,342$ 2,683$ 1510 Interest on Investments 5,000$ 10,000$ 5450 Repayment of Temporary Loan 65,824$

188,527$ 274,867$

1211 License Excise Tax 79,736$ 180,221$ 1212 Commercial Vehicle Excise Tax (CVET) 2,210$ 4,419$ 1231 Financial Institution Tax 945$ 1,890$

82,891$ 186,530$

1211 License Excise Tax 1,690$ 3,821$ 1212 Commercial Vehicle Excise Tax (CVET) 47$ 94$ 1231 Financial Institution Tax 20$ 40$

1,757$ 3,955$

1510 Interest on Investments 9,000$ 36,000$

9,000$ 36,000$

Totals - School Transportation Fund (Column A and B)

0420 SCHOOL BUS REPLACEMENT FUND

Totals - School Bus Replacement Fund (Column A and B)

0610 RAINY DAY FUND

Totals - Rainy Day Fund (Column A and B)

0350 CAPITAL PROJECTS FUND

Totals - Capital Projects Fund (Column A and B)

0250 RETIREMENT/SEVERANCE BOND DEBT SERVICE FUND

Totals - Retirement/Severence Bond Debt Service Fund (Column A and B)

0410 SCHOOL TRANSPORTATION FUND

0200 DEBT SERVICE FUND

Totals - Debt Service Fund (Column A and B)

State Form 3PRESCRIBED BY DEPARTMENT OF LOCAL GOVERNMENT FINANCE School Budget Form No. 3 (Rev 06/11)APPROVED BY STATE BOARD OF ACCOUNTS Page 1

Notice is hereby given the taxpayers of , County, Indiana that the proper legal officersof said School Corporation at onat will conduct a public hearing on the budget. Following the meeting, any ten or more taxpayers may object to a budget, tax rate or tax levy by filing an objecting petition with the proper officers of the political subdivision within seven days after the hearing. The objecting petition

must identify the provisions of the budget, tax rate, or tax levy the taxpayers object to. If a petition is filed, the political subdivision shall adopt with itsbudget a written finding concerning the objections filed and testimony presented. Following the aforementioned hearing, the School Board will meet at

, on at 6:00 PM to adopt the following budget:

2. 5.

XXXXXXXXXXXXXX

17,039,053

686,825

4,016,473 2,828,556

59,976 XXXXXXXXXXXXXX

24,630,883

Net Assessed Valuation of taxable property for the year 2011 payable 2012;

Taxpayers appearing at the hearing shall have an opportunity to be heard.

Referendum Debt Exempt

Rainy Day

Exempt Retirement/Severance

Bond Debt Service

1,936,847,280$

TOTAL 69,921,155 31,956,063

Bond Debt Service

Capital

October 10, 2011

Referendum - Exempt Operating

1,600,000

Debt Service

Retirement/Severance

Capital Projects

XXXXXXXXXXXX

6,127,852

20,050,434

NOTICE TO TAXPAYERS OF TAX LEVIES

18,812,468

6:00 PM

BUDGET ESTIMATE

Complete details of budget estimates by fund may be seen at the School Administration Offices.

Educational Services Center, 900 Mulberry Street, Zionsville, IN

XXXXXXXXXXXX

1,212,862 3,901,544 6,671,074

1.

School Funds Current Tax Levy

General

794,400


School Transportation

School Bus Replacement

36,966,522

Exempt Debt Service

3.

Maximum Estimated Funds

to be raised (including appeals)

3,623,863 1,359,514

October 26, 2011

756,685

Educational Services Center, 900 Mulberry Street, Zionsville, IN

Budget Estimate

4.

Excessive Levy Appeals included

in column 3

State Form 3COMPARATIVE STATEMENT OF TAXES COLLECTED AND TO BE COLLECTED: (Property tax to be collected in current year and actual collectionsfor the previous three (3) years)

Fund Name

To Be Collected

2011

XXXXXXXXXXXXX

17,039,053

686,825

4,016,473

2,828,556

59,976

XXXXXXXXXXXXX

24,630,883

79,167

216

Bond Debt Service

CollectedCollected

745,484 697,214

Debt Service 15,665,801

Referendum - Exempt Operating

General 17,730,399

41,391,077

School Transportation

School Bus Replacement

Spec. Ed. Preschool 36,263

Retirement/Severance

Exempt Retirement/Severance

Capital

Total

Referendum Debt Exempt

Bond Debt Service

4,129,196

2,610,967

652,742

565,709

24,166,899

2010

XXXXXXXXXXXXX

16,601,011

3,816,443

2,679,819

2009

358,266

XXXXXXXXXXXXX

51,547

23,846,034

16,292,578

3,807,614

2,883,574

Exempt Debt Service

Collected

2008

Capital Projects

Note: This does not

reflect circuit breaker loss

for 2011!

State Form 3School Budget Form No. 3 (Rev 06/11)

Page 2

In addition to the annual budget the proper officers of , will meet at

, at to consider the

establishment of a Capital Projects Plan.

The following is a general outline of the plan: Account No.

CURRENT EXPENDITURES:

(1) Land Acquisition and Development 41000

(2) Professional Services 43000

(3) Education Specifications Development 44000

(4) Building Acquisition, Construction, Improvement 45100

(includes 45200 and 45300)

(5) Rental of Buildings, Facilities and Equipment 45500

(6) Purchase of Mobile or Fixed Equipment 47000

(7) Emergency Allocation (Other Facilities 49000

Acquisition and Construction)

(8) Utilities (Maintenance of Buildings) 26200

(9) Maintenance of Equipment 26400

(10) Sports Facility 45400

(11) Property or casualty insurance 26700

(12) Other Operation and Maintenance of Plant 26800

(13) Technology

Instruction - Related Technology 22300

Admin Tech Services 25800

SUBTOTAL CURRENT EXPENDITURES

(14) Allocation for Future Projects (Cumulative Totals)

(15) Transfer From One Fund to Another 60100

TOTAL EXPENDITURES AND ALLOCATIONS

SOURCES AND ESTIMATES OF REVENUE

(1) January 1, Cash Balance

(2) Less Encumbrances Carried Forward from Previous Year

(3) Estimated Cash Balance Available for Plan (Line 1 minus Line 2)

(4) Property Tax Revenue

(5) Auto Excise, CVET and FIT receipts

(6) Other Revenue (interest income)

TOTAL FUNDS AVAILABLE FOR PLAN (Add lines 3,4,5,6)

ESTIMATED PROPERTY TAX RATE TO FUND PLAN 0.3164 BASED UPON AN ASSESSED VALUATION OF:

TAXPAYERS ARE INVITED TO ATTEND THE MEETING FOR A MORE DETAILED EXPLANATION OF THE PLAN AND TO BE HEARD

ON THE PROPOSED PLAN.

0.3220 0.3233 1,936,847,280 1,994,952,698 2,054,801,279

10,000 50,000 50,000

6,728,139 6,538,845 6,562,695

6,127,852 6,237,243 6,261,093

264,867 194,537 194,537

325,420 57,065 57,065

325,420

6,671,074 6,527,381 6,430,680

6,671,074 6,527,381 6,430,680

1,395,429 1,494,500 1,519,500

300,000 300,000 300,000

410,000 511,000 511,000

200,000 187,500 187,500

750,000 500,000 500,000

675,000 615,000 615,000

10,000 15,000 15,000

741,109 717,980 717,980

50,000 50,000 50,000

1,794,536 1,791,401 1,669,700

50,000 50,000 50,000

295,000 295,000 295,000

NoticeZionsville Community Schools

Educational Services Center, 900 Mulberry Street, Zionsville, IN October 10, 2011 6:00 PM

2012 2013 2014

State Form 3PRESCRIBED BY DEPARTMENT OF LOCAL GOVERNMENT FINANCE School Budget Form No. 3 (Rev 06/11)APPROVED BY STATE BOARD OF ACCOUNTS

In addition to the annual budget the proper officers of , will meet at

, at to consider the School Bus/Vehicle Replacement Plan as

summarized below for the twelve (12) year period between 2012 and 2023. The levy required to fund this plan will be raised as indicated in the Notice to

Taxpayers of Budgets and Levies to be collected in 2012. Detail of the proposed plan is on file in the office of the Superintendent for inspection from the date

of this notice. Taxpayers shall have the right to be heard on the plan summary as listed below at the public hearing.

I. SUMMARY OF PLANNED REPLACEMENTS AND ACCUMULATION FOR FUTURE YEARS

*The above only reflects allocations to be raised in 2012. Such amount will be added to Accumulation raised from prior years. Total Accumulations are reflected on

line 11 of the Budget Form 4B, available for inspection in the office of the Superintendent.

II. ADDITIONAL BUS NEEDS FOR YEAR 2012 (INCLUDING CONTRACTUAL COSTS PER IC 20-40-7-7)

3 Owned

1 Owned

BUS CONTRACTS PER IC 20-40-7-7 2012

20122012

78 2012 Type D 311,904$ 15 2012 Type A 69,312$

Number Bus Capacity Year Type of Bus/Vehicle per

DOE "TN"

To be Owned or

Leased

Year 2012 Cost of Additional Buses (including Bus

Contracts being shifted to the Bus Replacement Fund)

85 5 2022 846,760$ 85 5 2023 793,148$

85 7 2020 1,032,120$ 85 5 2021 806,440$

85 8 2018 1,073,609$ 85 7 2019 1,024,051$

85 6 2016 758,238$ 85 7 2017 928,844$

85 7 2014 802,368$ 85 6 2015 722,130$

85 9 2012 831,646$ 85 9 2013 952,257$

A B C D ENo. of buses

ownedNo. of buses to

be replacedYear Total of

Replacement Cost*Amount to be

Accumulated in 2012 for future purchases

NOTICE TO TAXPAYERS OF SCHOOL BUS REPLACEMENT PLAN

FOR THE YEARS 2012-2023

Zionsville Community Schools Educational Services Center,

900 Mulberry Street, Zionsville, IN October 10, 2011 6:00 PM




A resolution appropriating monies for the purpose of defraying expenses for school purposes of

, County, Indiana

for the year beginning January 1, 2012 and ending December 31, 2012

SECTION 1. Be it resolved by the Board of School Trustees of ,

County, Indiana, that for expenses for school purposes, for the year ending December 31, 2012 the following sums of money are

hereby appropriated and ordered set apart out of the funds herein named and for the purposes herein specified, subject to the laws

governing the same. Such sums herein expressly stipulated and provided by law.

Budget Form 4-B for all funds are made a part of the budget report and submitted herewith.

SECTION 2. That for said year there is hereby appropriated out of the GENERAL FUND of said school corporation the following:

11000: Instruction - Regular Programs

12000: Instruction - Special Programs

14000: Summer School Programs

16000: Remediation

17000: Payments to Other Governmental Units Within State

21000: Support Services - Students

22000: Support Services - Instruction

23000: Support Services - General Administration

24000: Support Services - School Administration

25000: Support Services - Central Services

26000: Operation and Maintenance of Plant Services

33000: Noninstructional Services - Community Serv. Operations

Total General Fund

SECTION 4. That for said year there is hereby appropriated out of the DEBT SERVICE FUND of said school corporation the

following:


Total Debt Service Fund

SECTION 6. That for said year there is hereby appropriated out of the RETIREMENT/SEVERANCE BOND DEBT SERVICE FUND

of said school corporation the following:


Total Retirement/Severance Bond Debt Service Fund

SECTION 9. That for said year there is hereby appropriated out of the CAPITAL PROJECTS FUND of said school corporation the

following:

22000: Support Services - Instruction

26000: Operation and Maintenance of Plant Services

40000: Facilities Acquisition and Construction

Total Capital Projects Fund

SECTION 10. That for said year there is hereby appropriated out of the SCHOOL TRANSPORTATION OPERATING FUND of said

school corporation the following:

27000: Support Services - Student Transportation

Total School Transportation Fund

SECTION 11. That for said year there is hereby appropriated out of the SCHOOL BUS REPLACEMENT FUND of said

school corporation the following:

27000: Support Services - Student Transportation

Total School Bus Replacement Fund

SECTION 12. That for said year there is hereby appropriated out of the RAINY DAY FUND of said school

corporation the following:

11000: Instruction - Regular Programs Total Rainy Day Fund

TOTAL APPROPRIATED - ALL FUNDS 69,921,155$

1,212,862$

1,600,000

1,600,000$

3,901,544$

1,212,862

6,671,074$

3,901,544

1,395,429

1,385,000

3,890,645

756,685

756,685$

18,812,468

18,812,468$

36,966,522$

4,668,172

419,982

1,938,509

672,884

531,823

2,496,599

1,145,873

3,683,571

135,000

91,784

792,500

RESOLUTION OF APPROPRIATIONS



20,389,825

State Form 4B’s (Condensed)

GENERAL DEBT SERVICE PENSION BOND CAPITAL PROJECTS TRANSPORTATION BUS REPLACEMENT RAINY DAY

ID YEAR CO TYPE FUND FUND FUND DEBT SERVICE FUND FUND FUND FUND FUND

AMOUNT USED TO AMOUNT USED TO AMOUNT USED TO AMOUNT USED TO AMOUNT USED TO AMOUNT USED TO AMOUNT USED TO

COMPUTE PUBLISHED COMPUTE PUBLISHED COMPUTE PUBLISHED COMPUTE PUBLISHED COMPUTE PUBLISHED COMPUTE PUBLISHED COMPUTE PUBLISHED

FUNDS REQUIRED FOR EXPENSES TO DECEMBER 31st OF INCOMING YEAR: BUDGET BUDGET BUDGET BUDGET BUDGET BUDGET BUDGET

1. Total budget estimate for incoming year 36,966,522$ 18,812,468$ 756,685$ 6,671,074$ 3,901,544$ 1,212,862$ 1,600,000$

2. Necessary expenditures, July 1 to December 31 of present year, to be made from appropriation unexpended. 16,927,462$ 9,169,893$ 378,593$ 2,503,328$ 2,509,026$ 210,507$ 1,003,886$

3. Additional appropriation necessary to be made July 1 to December 31 of present year -$ -$ -$ -$ -$ -$ -$

4. Outstanding temporary loans

a. To be paid not included in lines 2 or 3

b. Not repaid by December 31 of present year -$ -$ -$ -$ -$ -$ -$

5. TOTAL FUNDS required (add line 1, 2, 3, 4a and 4b) 53,893,984$ 27,982,361$ 1,135,278$ 9,174,402$ 6,410,570$ 1,423,369$ 2,603,886$

FUNDS ON HAND TO BE RECEIVED FROM SOURCES OTHER THAN PROPOSED TAX LEVY:

6. Actual cash balance, June 30 of present year (including cash investments) 560,184$ 8,979,084$ 351,777$ 1,820,186$ 1,875,734$ 131,817$ 3,723,912$

7. Taxes to be collected, present year (December Settlement) -$ 7,479,036$ 301,471$ 1,762,970$ 1,241,552$ 26,326$ -$

8.

a. Total Column A Budget Form 2

b. Total Column B Budget Form 2 33,075,265$ 1,123,644$ 45,293$ 274,867$ 186,530$ 3,955$ 36,000$

9. TOTAL FUNDS (add line 6, 7, 8a and 8b) 50,711,539$ 18,081,092$ 718,669$ 4,046,550$ 3,386,707$ 163,855$ 3,768,912$

10. Net amount to be raised for expenses to December 31 of incoming year (deduct line 9 from line 5) 3,182,445$ 9,901,269$ 416,609$ 5,127,852$ 3,023,863$ 1,259,514$ -$

11.

12. Amount to be raised by tax levy (add lines 10 and 11) -$ 20,050,434$ 794,400$ 6,127,852$ 3,623,863$ 1,359,514$ -$

13. a. Property Tax Replacement Credit from Local Option Tax -$ -$ -$ -$ -$ -$ -$

b. Levy Freeze from Local Option Income Tax -$ -$ -$ -$ -$ -$ -$

14. NET AMOUNT TO BE RAISED BY TAX LEVY (deduct line 13 from line 12) -$ 20,050,434$ 794,400$ 6,127,852$ 3,623,863$ 1,359,514$ -$

15. Levy Excess Fund applied to current budget XXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXX

16. Net amount to be raised -$ 20,050,434$ 794,400$ 6,127,852$ 3,623,863$ 1,359,514$ -$

17. Net Tax Rate on each one hundred dollars of taxable property 0.0000 1.0352 0.0410 0.3164 0.1871 0.0702 0.0000

-$

1,757$

100,000$

-$

9,000$

1,165,026$

Operating balance (not in excess of expense January 1 to June 30, less miscellaneous revenue for the same period. 1,000,000$ 10,149,165$ 377,791$ 1,000,000$

-$

82,891$

600,000$

Miscellaneous revenue to be received July 1 of present year to December 31 of incoming year (Schedule on File)

17,076,090$ 499,328$ 20,128$ 188,527$

-$ -$ -$ -$




TO THE COUNTY AUDITOR:

The undersigned herewith submits two copies of the Budget adopted by the Board of School Trustees of

, County,

Indiana for the year ending December 31, 2012 for filing and presentation to the County Board of Tax Adjustment.

Budget Form 4-B for all funds are made a part of the budget report and submitted herewith.

I certify that said copies are true and exact copies of the budget approved and adopted by the Board of School Trustees on

, 2011 fixing the budget, tax rates and levies for said year.

Dated this 26th day of , 2011

President Board of School Trustees

Attest:

Secretary Board of School Trustee

BE IT RESOLVED by the Board of School Trustees of ,

County, Indiana that there shall be levied upon each One Hundred Dollars of Assessed Valuation

of Taxable Property of the above named school corporation for the calendar year 2011 to be collected in the calendar year

2012 the following:

For the Debt Service Fund, the Rate of dollars per one hundred dollars of taxable property

For the Retirement/Severance Bond Debt Service Fund, the Rate of dollars per one hundred dollars of taxable property

For the Capital Projects Fund, the Rate of dollars per one hundred dollars of taxable property

For the School Transportation Fund, the Rate of dollars per one hundred dollars of taxable property

For the School Bus Replacement Fund, the Rate of dollars per one hundred dollars of taxable property

0.1871

0.0702

1.0352

0.0410

0.3164

RESOLUTION OF TAX RATES

RESOLUTION LEVYING TAXES AND FIXING THE RATE OF TAXATION

Zionsville Community Schools

Boone

BUDGET SUBMISSION LETTER AND CERTIFICATE


October 26.

October

CAPITAL PROJECTS PLAN(As Advertised)

22310 26200 26400 26700 41000 43000 44000 45100 45200 45400 45500 47000 49000

Instruction Maint. Maint. Property Fees for Educational Building Energy School Rental of PurchaseRelated of of and Casualty Land Acq. Professional Specifications Acquisition Savings Sports Buildings and of Emergency

Building Technology Buildings Equipment Insurance and Develop. Services Development and Improv. Contracts Facilities Equipment Equipment Allocation Totals

100 Administration & District 1,252,699$ 675,000$ 200,000$ 300,000$ 50,000$ 85,000$ 50,000$ 25,000$ 400,600$ -$ 10,000$ 413,407$ 750,000$ 4,211,706$ 200 High School 21,954$ 50,000$ -$ 25,000$ -$ 976,786$ 100,000$ -$ 86,000$ -$ 1,259,740$ 300 Middle School 22,304$ 25,000$ -$ 25,000$ -$ 110,300$ 50,000$ -$ 19,902$ -$ 252,506$ 350 West Middle School 20,558$ 25,000$ -$ 25,000$ -$ 49,500$ 50,000$ -$ 4,000$ -$ 174,058$ 400 Stonegate 9,563$ 15,000$ -$ 25,000$ -$ 36,200$ -$ -$ 19,500$ -$ 105,263$ 500 Eagle 16,563$ 15,000$ -$ 25,000$ -$ 73,500$ -$ -$ 13,500$ -$ 143,563$ 600 Union 12,563$ 15,000$ -$ 25,000$ -$ 38,000$ -$ -$ 3,750$ -$ 94,313$ 700 Pleasant View 17,193$ 15,000$ -$ 25,000$ -$ 32,700$ -$ -$ 19,600$ -$ 109,493$ 800 Boone Meadow 9,563$ 15,000$ -$ 25,000$ -$ 35,500$ -$ -$ 17,500$ -$ 102,563$ 900 Transportation Center 10,469$ 20,000$ -$ 5,000$ -$ 16,450$ -$ -$ 91,350$ -$ 143,269$ 950 Maintenance Center 2,000$ 15,000$ -$ 5,000$ -$ -$ -$ -$ 52,600$ -$ 74,600$

Combined Totals: 1,395,429$ 675,000$ 410,000$ 300,000$ 50,000$ 295,000$ 50,000$ 1,393,936$ 400,600$ 200,000$ 10,000$ 741,109$ 750,000$ 6,671,074$

Summary of 2012 Capital Projects Plan by Building and Function

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 20230

1

2

3

4

5

6

7

8

9

10

2012 Bus Replacement PlanBuses to be Replaced

by Year

Nu

mb

er

of

Bu

se

s t

o b

e R

ep

lac

ed

2012 2013 2014 2015 2016 2017 2018$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

$1,100,000

$1,200,000

$1,300,000

$1,400,000

$1,500,000

$1,600,000

$1,700,000

2012 Bus Replacement PlanCosts of Buses to be Replaced or

Added Per Advertised Plan through 2018

Replacement Buses Additional Buses

2012 BUDGET: REVENUES

How much revenue will we have and where will

it come from?

$-

$5,000,000.00

$10,000,000.00

$15,000,000.00

$20,000,000.00

$25,000,000.00

$30,000,000.00

$35,000,000.00

2009 2010 Estimated 2011 Projected 2012

Comparison of Projected Revenues by Fund

General Fund+Stimulus

Debt Service Fund

Pension Bond Debt Service Fund

Capital Projects Fund

Transportation Fund

Bus Replacement Fund

$-

$5,000,000.00

$10,000,000.00

$15,000,000.00

$20,000,000.00

$25,000,000.00

$30,000,000.00

$35,000,000.00


Debt Service Fund

Pension Bond Debt Service

Fund


Transportation Fund

Bus Replacement

Fund

2012 Projected Revenues By Fund and Source

Stimulus

Program Support & Misc

Excise & FIT

State Aid

Property Taxes

2011$32,102,

810

2012$31,785,

320

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 $4,000

$4,200

$4,400

$4,600

$4,800

$5,000

$5,200

$5,400

$5,600

$5,800

$6,000

$6,200

$6,400

4,000

4,200

4,400

4,600

4,800

5,000

5,200

5,400

5,600

5,800

6,000

6,200

6,400

Zionsville Community SchoolsGeneral Fund

Base Per Pupil Funding vs. Enrollment

Lowest Target Revenue Per-Pupil

School Target Funding per Pupil

Montessori Academy @ Geist 4303.11

Hoosier Academy - Muncie 4339.06

International School of Columbus 4404.12

Zionsville Community Schools 4414.01

Signature School Inc 4470.03

Carmel Clay Schools 4489.84

Hamilton Southeastern Schools 4593.25

M S D Southwest Allen County 4601.25

Northwest Allen County Schools 4611.28

West Lafayette Com School Corp 4630.96

28

Lowest Public School District RevenuePer Pupil In

Indiana

Debt PB Debt Capital BusService Service Projects Transportation Replacement

ESTIMATED ACTUAL 2012 LEVIES Fund Fund Fund Fund Fund Totals1 Advertised Levy for 2012 Per Form 4B Computation 20,050,434$ 794,400$ 6,127,852$ 3,623,863$ 1,359,514$ 31,956,063$ 2 Levy Controls to be Applied: Actual Cost Actual Cost Capped Rate Capped Levy Capped Levy3 Expected DLGF Adjustments: -

Debt Service - Adjust to Actual per Expected DLGF Reduction (1,431,036) - (1,431,036)$ CPF - Adjust to Levy Per DLGF Rate Cap (2,308,389) (2,308,389)$ Transporation - Adjust to Levy per Levy Cap (611,044) (611,044)$ Bus Replace - Adjust to Levy per Levy Cap and Pension Bond Neutrality (1,322,268) (1,322,268)$

4 Total Estimated Actual Levies (Lines 1-3) 18,619,398 794,400 3,819,463 3,012,819 37,246 26,283,326

ESTIMATED EFFECT OF CIRCUIT BREAKER LOSSES6 Percentage of Total Levy 70.8% 3.0% 14.5% 11.5% 0.1%7 Expected Circuit Breaker Loss (85% of Umbaugh Study #) 2,438,299 2,438,299 2,438,299 2,438,299 2,438,299

8 Pro-Rata Share of Circuit Breaker Loss 1,727,319 73,696 354,331 279,499 3,455 2,438,300

ESTIMATED ACTUAL 2012 PROPERTY TAX REVENUES (Line 4 minus Line 8) 16,892,079$ 720,704$ 3,465,132$ 2,733,320$ 33,791$ 23,845,026$


Comparative Estimates of Actual 2012 Property Tax Levies to be Received

$16,892,079

$720,704

$3,465,132

$2,733,320

$3,455

TOTAL $23,845,026

26%

67%

7%

2008 Revenue Sources - All Funds

State

Property Taxes

Other Sources

54%

41%

5%


State

Property Taxes

Other Sources

54%

42%

4%


State

Property Taxes

Other Sources53%

44%

3%


State

Property Taxes

Other Sources

54%

41%

5%


State

Property Taxes

Other Sources

$-

$500,000.00

$1,000,000.00

$1,500,000.00

$2,000,000.00

$2,500,000.00

$3,000,000.00

$3,500,000.00

$4,000,000.00

2010 2011 2012 2013 2014

Projected Circuit Breaker CreditsPer Umbaugh Study

Actual 2010 and 2011 with 2012 Projection

Actual 2010 & 2011

Expected 2012

Umbaugh Study's Projection

$-

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

$18,000,000

2008 Actual 2009 Actual 2010 Actual 2011 Certified 2012 Projected

Property Tax Revenues 2008-2012

General Fund

Debt Service Fund



Transportation Fund


2012 BUDGET:EXPENDITURES

How much will we spend and what will we spend it

on?

$-

$2,500,000.00

$5,000,000.00

$7,500,000.00

$10,000,000.00

$12,500,000.00

$15,000,000.00

$17,500,000.00

$20,000,000.00

$22,500,000.00

$25,000,000.00

$27,500,000.00

$30,000,000.00

$32,500,000.00

$35,000,000.00

$37,500,000.00

2009 2010 Estimated 2011 Projected 2012

Comparison of Projected Expenditures by Fund


Debt Service Fund



Transportation Fund


$-

$2,500,000.00

$5,000,000.00

$7,500,000.00

$10,000,000.00

$12,500,000.00

$15,000,000.00

$17,500,000.00

$20,000,000.00

$22,500,000.00

$25,000,000.00

$27,500,000.00

$30,000,000.00

$32,500,000.00

$35,000,000.00

$37,500,000.00

General Fund Debt Service Fund

Pension Bond Debt Service

Fund


Transportation Fund

Bus Replacement

Fund

2012 Projected Expenditures By Fund

Salaries & Benefits

Purchased Services

Custodial Services

Spec Ed Services & Co-ops

Utilities & Property Ins

Debt Service

Supplies & Materials

Capital Outlays

Other

Five Yrs or Less 6 to 10 Yrs 11 to 15 Yrs 16 or More Yrs0

20

40

60

80

100

120

140

160

ZCS Teacher Experience2010-2011 School Year

Num

ber

of T

each

ers

Five Yrs or Less 6 to 10 Yrs 11 to 15 Yrs 16 or More Yrs0

20

40

60

80

100

120

140

160

ZCS Teacher Experience2011-2012 School Year

Num

ber

of T

each

ers

39.37%

15.76%

7.96%

2.81%

1.33%

0.15%

2.93%0.07%

5.52%

1.74%

6.03%

2.23%

1.87%

2.84%

2.37%

4.43%2.59%

2012 General Fund Estimated Expenditures

Classroom Teachers - Salaries

Classroom Teachers - Benefits

Other Certified Teachers - Salaries

Other Certified Teachers - Benefits

Substitute Teachers - Salaries

Substitute Teachers - Payroll Costs

Instructional Aides - Salaries

Instructional Aides - Payroll Costs

Administrators - Salaries

Administrators - Benefits

Noncertified Staff - Salaries

Noncertified Staff - Benefits

Supplies and Materials

Utilities and Insurance

Special Ed Services & Coop Agreements

Contracted Services

Other

70.4% of the 2012 General Fund Budget goes for personnel costs for the direct instruction of children!

In all, personnel costs will be 85.9% of the 2012 General Fund budget.

The salaries and benefits for teachers covered by the collective bargaining agreement are 65.9%

of the General Fund Budget.

40.9%

4.0%

0.2%5.8%

24.4%

16.0%

4.2% 1.2%3.0% 0.3%

2012 Transportation Fund - Estimated Expenditures

Drivers' Salaries

Mechanics' Salaries

Aides' Salaries

Director and Support Staff Salaries

Personnel Benefits

Vehicle Fuel

Vehicle Parts and Supplies

Vehicle Repair Services

Utilities and Insurance

Office Supplies and Misc

Personnel Costs are 75.3% of the Fund

0

1

2

3

4

5

6

7

8

9

10

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Num

ber o

f Bus

es to

be

Repl

aced

2012 Bus Replacement PlanBuses to be Replaced

by YearChart is per official plan.

Actual number of expected

2012 replacements

is Zero!

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

$1,100,000

$1,200,000

$1,300,000

$1,400,000

$1,500,000

$1,600,000

$1,700,000

2012 2013 2014 2015 2016 2017 2018

2012 Bus Replacement PlanCosts of Buses to be Replaced or

Added Per Advertised Plan through 2018

Replacement Buses Additional Buses

Chart is per official plan. Actual amount of expected 2012 expenditures is

approximately $69,000 (Median price of one

Type “A” bus).

2012 BUDGET: CASH FLOWS AND CASH BALANCES

Will our budget be balanced?

Projected Projected ProjectedBudget/ Budget/ Budget/ Projected ProjectedCalendar Calendar Calendar School School

Year Year Year Year Year2011 2012 2013 2011-2012 2012-2013 Notes:

General FundState Aid

Basic Grant (Including Categoricals) 33,784,605$ 31,785,265$ 31,921,467$ 32,784,714$ 31,853,366$ 1Less: State Aid Reduction (1,680,689)$ -$ -$ (840,992)$ -$ 2

Net State Aid 32,103,916$ 31,785,265$ 31,921,467$ 31,943,722$ 31,853,366$

Other State Grants and Funding 120,000$ 238,000$ 238,000$ 238,000$ 238,000$ 3Misc Local Sources

Facilities Rental 208,191$ 200,000$ 200,000$ 200,000$ 200,000$ 3Program Support Fees 375,000$ 500,000$ 500,000$ 500,000$ 500,000$ 3Interest 10,579$ 15,000$ 15,000$ 12,790$ 15,000$ 3ECA Reimbursements 52,000$ 75,000$ 75,000$ 63,500$ 75,000$ 3Other Misc 105,507$ 177,000$ 177,000$ 141,254$ 177,000$ 3

Subtotal - General Fund 32,975,193$ 32,990,265$ 33,126,467$ 33,099,266$ 33,058,366$

Federal Teacher Job Stimulus 520,240$ 520,240$ -$ 1,040,480$ -$ 4Rainy Day Fund (Support of General Fund) 451,943$ 1,598,057$ 1,700,000$ 903,886$ 2,846,114$ 5

Totals - General Fund (with Teacher Job Stimulus& RDF Support) 33,947,376$ 35,108,562$ 34,826,467$ 35,043,632$ 35,904,480$

Notes:1 Assumes IBRC Projection of ADM increases, with actual formula for 2012 and 2013.2 Assumes no state funding reduction in 2012 or 2013 or the 2012-2013 school year.3 Assumes revenues from non-state aid will be stable for the period.4 Assumes no federal stimulus will be available beyond 2011-2012 school year.5 Assumes complete use of the Rainy Day Fund by 12/31/2013 with zero remaining balance as of that date.


Projected Revenues for the Periods Shown

General Fund


Year Year Year Year Year2011 2012 2013 2011-2012 2012-2013 Notes:

Capital Projects FundProperty Taxes 3,715,463$ 3,465,132$ 3,597,645$ 3,590,298$ 3,531,389$ 1Excise, CVET, & FIT Taxes 264,867$ 264,867$ 264,867$ 264,867$ 264,867$ 2Interest and Misc 10,000$ 10,000$ 10,000$ 10,000$ 10,000$ 3

Totals - Capital Projects Fund 3,990,330$ 3,739,999$ 3,872,512$ 3,865,165$ 3,806,256$

Transportation FundProperty Taxes 2,616,574$ 2,733,320$ 2,768,791$ 2,674,947$ 2,751,055$ 1Excise, CVET, & FIT Taxes 186,530$ 186,530$ 186,530$ 186,530$ 186,530$ 2Interest and Misc 97,073$ -$ -$ -$ -$ 3,4

Totals - Transportation Fund 2,900,177$ 2,919,850$ 2,955,321$ 2,861,477$ 2,937,585$

Debt Service Funds (Combined)Property Taxes 16,397,433$ 17,612,783$ 17,698,650$ 17,005,108$ 17,655,717$ 1Excise, CVET, & FIT Taxes 1,168,937$ 1,168,937$ 1,168,937$ 1,168,937$ 1,168,937$ 2Interest and Misc -$ -$ -$ -$ -$ 3

Totals - Debt Service 17,566,370$ 18,781,720$ 18,867,587$ 18,174,045$ 18,824,654$

Bus Replacement FundProperty Taxes 55,481$ 33,791$ 35,261$ 44,636$ 34,526$ 1Excise, CVET, & FIT Taxes 3,955$ 3,955$ 3,955$ 3,955$ 3,955$ 2Interest and Misc -$ -$ -$ -$ -$ 3

Totals - Bus Replacement 59,436$ 37,746$ 39,216$ 48,591$ 38,481$

Rainy Day FundInterest and Misc 18,000$ 18,000$ 18,000$ 18,000$ 18,000$ 3

Totals - Rainy Day Fund 18,000$ 18,000$ 18,000$ 18,000$ 18,000$

Totals - Combined Revenues 24,534,313$ 25,497,315$ 25,752,636$ 24,967,278$ 25,624,976$

Notes:1 All property tax revenues estimates are shown less projected circuit breaker losses.2 License Excise, CVET, and FIT Taxes are assumed to be equal across the periods shown.3 Interest and other misc items are assumed to be equal across the periods shown.4 Transportation Fund received a Levy Excise transfer in June 2011. No effect is expected for future periods.

Zionsville Community SchoolsTax-Supported FundsProjected Revenues

for the Periods Shown


Year Year Year Year Year2011 2012 2013 2011-2012 2012-2013

General FundPersonnel Costs

Teacher Salaries 15,906,318$ 16,484,317$ 17,086,393$ 16,080,261$ 16,910,781$ Teacher Benefits 6,377,064$ 6,656,797$ 6,875,700$ 6,439,927$ 6,732,571$ Adminstrator Salaries 2,132,278$ 2,057,843$ 2,088,711$ 2,095,061$ 2,073,277$ Adminstrator Benefits 589,950$ 611,782$ 620,959$ 600,866$ 616,370$ Support Staff Salaries 3,730,591$ 3,763,336$ 3,819,786$ 3,746,964$ 3,791,561$ Support Staff Benefits 644,644$ 685,864$ 696,152$ 665,254$ 691,008$

Subtotal - Personnel Costs 29,380,845$ 30,259,939$ 31,187,701$ 29,628,333$ 30,815,568$

Non-Personnel CostsPurchased Services 619,204$ 676,029$ 689,550$ 647,617$ 682,790$ Custodial Services 1,017,630$ 1,560,000$ 1,591,200$ 1,288,815$ 1,575,600$ Spec Ed Services & Co-ops 904,384$ 957,500$ 976,650$ 930,942$ 967,075$ Utilities & Property Ins 1,660,496$ 1,000,090$ 1,020,092$ 1,330,293$ 1,010,091$ Supplies and Materials 600,599$ 682,360$ 696,007$ 641,480$ 689,184$ Capital Outlays 6,199$ 35,000$ 35,700$ -$ 35,350$ Other 46,052$ 74,945$ 76,444$ 60,499$ 75,695$

Subtotal - Non-Personnel Costs 4,854,564$ 4,985,924$ 5,085,643$ 4,899,646$ 5,035,785$

Totals - General Fund 34,235,409$ 35,245,863$ 36,273,344$ 34,527,979$ 35,851,353$

Zionsville Community SchoolsGeneral Fund

Projected Expendituresfor the Periods Shown



Capital Projects FundPersonnel Costs 1,174,579$ 1,202,699$ 1,238,780$ 1,188,639$ 1,220,740$ Purchased Services 1,027,073$ 980,355$ 1,009,766$ 1,003,714$ 995,061$ Major Maint.: Bldg. & Equip. 834,876$ 567,530$ 650,000$ 701,203$ 608,765$ Utiities and Property Ins. 716,624$ 915,000$ 915,000$ 815,812$ 915,000$

Totals - Capital Projects Fund 3,753,152$ 3,665,584$ 3,813,546$ 3,709,368$ 3,739,566$

Transportation FundPersonnel Costs 2,133,559$ 2,122,693$ 2,186,374$ 2,128,126$ 2,154,534$ Purchased Services 58,730$ 35,000$ 36,050$ 46,865$ 35,525$ Supplies and Materials (Including Bus Fuel) 535,763$ 576,000$ 593,280$ 555,882$ 584,640$ Utiities and Property Ins. 76,903$ 85,500$ 88,065$ 81,202$ 86,783$

Totals - Transportation Fund 2,804,955$ 2,819,193$ 2,903,769$ 2,812,075$ 2,861,482$

Debt Service Funds (Combined)Debt Service 18,842,153$ 19,269,685$ 20,663,013$ 19,046,069$ 19,961,499$

Totals - Debt Service 18,842,153$ 19,269,685$ 20,663,013$ 19,046,069$ 19,961,499$

Bus Replacement FundBus Replacement -$ 69,312$ -$ 69,312$ -$

Totals - Bus Replacement -$ 69,312$ -$ 69,312$ -$

Totals - Combined Expenditures 25,400,260$ 25,823,774$ 27,380,328$ 25,636,824$ 26,562,547$

Zionsville Community SchoolsTax-Supported Funds

Projected Expendituresfor the Periods Shown



General FundCash Balance Jan. 1 1,112,113$ 824,080$ 686,779$ 560,184$ 1,075,837$

Projected Revenues 32,975,193$ 32,990,265$ 33,126,467$ 33,099,266$ 33,058,366$ Projected Expenditures 34,235,409$ 35,245,863$ 36,273,344$ 34,527,979$ 35,851,353$

Deficit for Period (1,260,216)$ (2,255,598)$ (3,146,877)$ (1,428,713)$ (2,792,987)$

Support from Other Funds:Federal Teacher Job Stimulus 520,240$ 520,240$ -$ 1,040,480$ -$ Rainy Day Fund 451,943$ 1,598,057$ 1,700,000$ 903,886$ 2,846,114$

Net Change in Fund Balance (288,033)$ (137,301)$ (1,446,877)$ 515,653$ 53,127$

Projected Cash Balance Dec. 31 824,080$ 686,779$ (760,098)$ 1,075,837$ 1,128,964$

Zionsville Community SchoolsCombined Forecast

of General Fund Revenues and Expensesfor the Periods Shown

2011 2012 2013 CUMULATIVEBUDGET BUDGET BUDGET TOTALS

Revenues:

General Fund 32,975,193$ 32,990,265$ 33,126,467$ 99,091,925$

Tax-Supported FundsDebt Service Funds (Combined) 17,566,370$ 18,781,720$ 18,867,587$ 55,215,677$ Capital Projects 3,990,330$ 3,739,999$ 3,872,512$ 11,602,841$ Transportation 2,900,177$ 2,919,850$ 2,955,321$ 8,775,348$ Bus Replacement 59,436$ 37,746$ 39,216$ 136,398$

Subtotal - Tax Supported Funds 24,516,313$ 25,479,315$ 25,734,636$ 75,730,264$

Total Revenues 57,491,506$ 58,469,580$ 58,861,103$ 174,822,189$

Expenditures

General Fund 34,235,409$ 35,245,863$ 36,273,344$ 105,754,616$

Tax-Supported FundsDebt Service Funds (Combined) 18,842,153$ 19,269,685$ 20,663,013$ 58,774,851$ Capital Projects 3,753,152$ 3,665,584$ 3,813,546$ 11,232,282$ Transportation 2,804,955$ 2,819,193$ 2,903,769$ 8,527,917$ Bus Replacement -$ 69,312$ -$ 69,312$

Subtotal - Tax Supported Funds 25,400,260$ 25,823,774$ 27,380,328$ 78,604,362$

Total Expenditures 59,635,669$ 61,069,637$ 63,653,672$ 184,358,978$

Net Combined Fund Surplus (Deficit) (2,144,163)$ (2,600,057)$ (4,792,569)$ (9,536,789)$

ZIONSVILLE COMMUNITY SCHOOLSPROJECTED BUDGET RESULTS

INCOME STATEMENT FORMAT

$57,491,079

TOTAL REVENUES$58,469,5

80$58,861,10

3$174,822,

189

2011 2012 2013CUMULATI

VETOTALS

$59,635,669

TOTAL EXPENDITURES$61,069,6

37$63,653,67

2$184,358,

978

$(2,144,163)

NET DEFICITS$(2.600,05

7)$(4,792,56

9)$(9,536,79

)

In a similar situation a couple of years ago, a very smart man once said

“The debate over the reserves is over, we are using them. The only question is whether we'll use every penny of them or find a way to have something left…”

2012 BUDGET:TAX RATES AND

TAX LEVIESWhat does all this mean

to the taxpayer?

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

2002 2003 2005 2004 2006 2007 2008 2009 2010 2011


Ten Year Tax Rate History

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000 $-

$0.5000

$1.0000

$1.5000

$2.0000

$2.5000

$3.0000

$3.5000

Effective Tax Rates Required to Trigger Circuit Breaker for Homesteads

Assessed Value of Home

Effec

tive

Tax

Rate

Actual 2011 Tax Rate

Rank Locality

2009-Pay-2010 Tax

Rate

1 IPS 2.9796$

2 MSD Wayne Twp 2.9438$

3 MSD Washington Twp 2.9273$

4 MSD Pike Township 2.9181$

5 Kokomo 2.9019$

6 Brownsburg 2.7881$

7 Avon 2.7717$

8 Sheridan 2.7518$

9 Noblesville 2.4891$

10 Westfield 2.4688$

11 Tippecanoe 2.4426$

12 Clark-Pleasant 2.4190$

13 Lafayette 2.3969$

14 West Lafayette 2.3327$

15 Center Grove 2.1084$

16 Lebanon 2.0696$

17 Zionsvlle 2.0432$

18 HSE 1.9816$

19 MSD SW Allen 1.9402$

20 Carmel 1.7209$

How do the total local property tax rates among these the cities, towns, and localities of these peers?

Rank Locality2010-Pay-2011

Tax Rate

1 Kokomo 3.2100$

2 IPS 3.1555$

3 MSD Wayne Twp 3.1201$

4 Avon 3.1040$

5 MSD Washington Twp 3.1023$

6 MSD Pike Township 3.0940$

7 Brownsburg 3.0413$

8 Westfield 2.9238$

9 Sheridan 2.9162$

10 Noblesville 2.7673$

11 Tippecanoe 2.5992$

12 Lafayette 2.5890$

13 West Lafayette 2.5637$

14 Clark-Pleasant 2.5526$

15 Lebanon 2.1136$

16 Zionsvlle 2.0835$

17 Center Grove 2.0250$

18 HSE 1.9907$

19 Carmel 1.9863$

20 MSD SW Allen 1.8809$

How do the total local property tax rates among these the cities, towns, and localities of these peers?

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 $-

$0.5000

$1.0000

$1.5000

$2.0000

$2.5000

$3.0000

$3.5000

$4.0000

Total School Tax Rates - All Funds:Advertised vs. Actual 2002-2010 with 2011 Projected

ActualPredictedAdvertised

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 $-

$0.5000

$1.0000

$1.5000

$2.0000

$2.5000

$3.0000

$3.5000

$4.0000

Total School Tax Rates - All Funds:Advertised vs. Actual 2002-2010 with 2011 Projected and Actual


2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

$-

$0.5000

$1.0000

$1.5000

$2.0000

$2.5000

$3.0000

$3.5000

$4.0000

Total School Tax Rates - All Funds:Advertised vs. Actual 2002-2011 with 2012 Projected


2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 $-

$2,000,000 $4,000,000 $6,000,000 $8,000,000

$10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 $20,000,000 $22,000,000 $24,000,000 $26,000,000 $28,000,000 $30,000,000 $32,000,000 $34,000,000 $36,000,000 $38,000,000 $40,000,000 $42,000,000 $44,000,000 $46,000,000 $48,000,000 $50,000,000

Total Tax Levies - All Funds:Advertised vs. Actual

2002- 2011 with 2012 Projected

Advertised

Predicted

Actual

2012 BUDGET PRESENTATION SUMMARY:

The Five Questions and Their Answers:1. How much will we actually spend and what will we spend it

on? About $61 million will be spent as described earlier.

2. How much revenue will we have and where will it come from? All Combined, about $58.5 million, which will be made up of approximately 54% State funding, 41% Property Taxes, and 5% Other Sources.

3. Will our budget be balanced? This is unlikely. However, possible future events not included in our projections may have material effects on our budget.

4. What does all this mean to the taxpayer? The total tax bill for 2012 for the typical homeowner should be the same as in 2011. Owners of rental or commercial property may see a small increase.

5. What is our long-term outlook? Uncertain – Our expectations have been permanently lowered in regard to state funding. Additional cutbacks may be needed and those already made must be maintained.

Budget 2012

Thank You for Your Kind Attention!

2012 budget budget hearing: october 10, 2011 budget adoption: october 26, 2011

Documents

fund slide

s slide

indiana slide

advertised slide

left slide

bs condensed slide

tax rate slide

year tax rate history