City Council to review, finalize budget figures
By Emma Rausch
emma@thepaperofwabash.com
WABASH, Ind. – The Wabash City Schools Board of Education approved its 2018 budget projections Monday night, Aug. 21, and announced plans to go before the Wabash City Council to receive final authorization to advertise.
Matt Stone, WCS chief business officer, reminded the board that while it approves the Capital Projects Fund and Bus Replacement Plan, the Wabash City Council approves the General Fund.
Until the council approves the figures, Stone informed the board that the WCS budget projects are as follows:
• The General Fund will be developed to be advertised in the $10.2 million to $10.3 million range.
• As WCS had accrued no new debt, the Debt Service was approved at $1.5 million and will remain at that amount through 2018.
• The Capital Projects Fund will “most likely” be in the $1.2 million range, according to Stone.
• The Transportation Fund, which is affected by state-set tax caps that determine how high the corporation’s levy can be, will be advertised at or above that level. The level is based on data from the district, including size, assessed value and prior year levy.
• The Bus Replacement Plan costs will be advertised at $247,000 to cover the buses and leases payments.
Stone will present the budget projections at the Monday, Aug. 28, Wabash City Council meeting.
“Then we’ll have our hearing with them on (Sept. 11),” Stone said. “So by (Sept. 18), we should have all the hearings done and have everything done.”
To read more on the Wabash City Schools board meeting, check out the Aug. 30 edition of The Paper of Wabash County.