Goshen News, Goshen, IN

September 25, 2013

GCS proposed budget near $73M

By SHERRY VAN ARSDALL
THE GOSHEN NEWS

— GOSHEN — The Goshen Community School Corporation budget for 2014 is estimated at $72,849,989.

During a public hearing on the budget, no one voiced any objections so members of the Goshen Board of School Trustees will now vote Monday, Oct. 14 on whether to adopt the 2014 budget, said board president Jane Troup.

A budget estimate for the general fund has been given as $48,909,948 with the rainy day fund at $1,050,000. The debt service fund is $10,198,112 and the school pension debt is $715,335.

The capital projects fund has been estimated at $8,618,991. For the transportation fund, it has been set at $2,757,400 and for the bus replacement, $600,203.

In other business, the school corporation’s business manager Jerry Hawkins gave an update on the refinancing of bonds from 2004 and 2005 due to a change in lower interest rates.

“I’m very pleased with the underwriting of our bonds. We generated $3,76 million for construction versus the estimated $3.625 million,” Hawkins said. “We were able to reduce our annual lease payments. This savings is $104,000 for the life of the bonds.”

The refinancing will allow Goshen Community Schools to save money and free up $3.76 million in funds for possible renovation and improvement projects.

Board members were informed the Goshen High School Super Mileage Team will be participating in a Fun Run Saturday, Oct. 5 at the Goshen Municipal Airport from 9 a.m. to 4 p.m. The event is being organized by GHS teacher J.J. Johnson and open to the public. The teams compete to see which school has designed and built the car with the best fuel efficiency. At this point, Goshen and Fairfield High School are participating, but other schools could join, said Assistant Superintendent Bob Evans.