VIGO COUNTY SCHOOL CORPORATION

BOARD OF SCHOOL TRUSTEES MEETING

MONDAY, AUGUST 22, 2005

7:00 P.M.

PUBLIC HEARING – 2006 BUDGET

M I N U T E S

A Public Hearing regarding the 2006 Budget was held at the Vigo County School Corporation Administration Building, 686 Wabash Avenue, Terre Haute, Indiana, on

August 22, 2005 at 7:00 P.M.

The following Board Members were present: Mr. Guille Cox, Dr. Joseph Minnis, Mr. Paul Lockhart, Mr. Michael Tom, Mr. Mel Burks, Mr. Gene Shike, and Mrs. Jackie Lower.

Pledge of Allegiance

Dr. Minnis led the Pledge of Allegiance

Public Hearing

Mr. Thornton reviewed the following 2006 budgets, which were previously presented to the Board at the July 25^th Board Meeting.

General Fund Budget

The General Fund was advertised at $110,405,317. The General Fund levy was advertised at $30,852,909. This advertisement does include an excessive levy of $2,000,000 to allow for any increases in other income to be included in the budget, and a levy shortfall appeal of $2,000,000.

Transportation Fund Budget

The Transportation Fund Budget was advertised at $5,899,776 with a levy of $5,229,136, which includes an excessive levy of $500,000 and a levy shortfall appeal of $300,000.

Debt Service Fund Budget

The Debt Service Fund Budget was advertised at $8,979,533 with a levy of $9,378,407.

Special Education Preschool Fund

The Special Education Preschool Fund is advertised at a total of $807,424 with an advertised levy of $100,000.

Capital Projects Fund

The Capital Projects Fund is required by statute to be a three-year plan with the first year of the plan to be used as the budget for the coming year. For 2006, a budget of $18,913,976 was advertised which includes an excessive levy of $2,000,000. This fund has an advertised levy of $16,702,381, which includes a levy shortfall appeal of $750,000 and an additional levy of $2,584,726 to cover utility and/or property casualty insurance costs.

Bus Replacement Fund

This ten-year plan is required by statute with the first year of the plan to be the budget or the coming year. The Bus Replacement Fund was advertised at a budget of $1,900,000 with an advertised levy of $1,698,284.

Mr. Thornton stated that the budgets would be brought before the Board to be adopted at the September 12, 2005 Board Meeting.

Questions and Comments on the Proposed 2006 Budget from Audience

Comments were received from Mr. Bernard Ridens, Executive Director of the Vigo County Tax Association.

Adjournment: 7:35 P.M.

Approved:

_____________________________President ______________________________

_____________________________Vice Pres. ______________________________

_____________________________Secretary _______________________________

_____________________________Dep. Secy.