Zionsville Times Sentinel

Local News

October 11, 2012

Officials propose balanced budget

Despite another drop in state funding per pupil next year, Zionsville Community Schools plans to keep programs and address long-term maintenance issues while still balancing the budget in 2013.

Mike Shafer, ZCS chief financial officer, presented the budget to a full house during Monday, Oct. 8’s public hearing.

“We think that when it comes down to it, we will have revenues that look a lot like similar budgets we have had in the past, although we will have a new referendum fund come through,” Shafer said.

According to Shafer’s presentation, the proposed 2013 budget calls for expenditures of $66.5 million. Total revenues expected from state and local sources are $65 million. More than $1 million in revenue will come from the Rainy Day Fund until operating referendum funds are first available in June 2013.

This restoration plan was adopted by the board after an operating referendum passed during May’s election. The referendum provides a maximum of  $4.7 million a year for direct student instruction to compensate for Zionsville’s shortfall from the state for three years.

The board’s approval of the referendum money is part of the budget adoption process for each of the three years during which the referendum is in place.

See Wednesday’s paper for the full story.

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