From the Jeffersonville News and Tribune:
Though about $1 million less than they got last year, the Clarksville Community Schools board of trustees unanimously approved its advertised budget at their meeting Tuesday night.
The $18.7 million budget took a hit for a couple of reasons, including lower enrollment and a decreasing assessed value of the corporation.
Kim Knott, superintendent, said the district lost about 12 students this year and the value of the corporation went down about $11 million, bringing it to more than $393 million.
The loss of students caused about a $262,000 loss, but the assessed valuation change could have a bigger effect on the district as the circuit breaker caps in property taxes play into funding.
“The circuit breaker is unknown, but because the AV is decreasing, we could have more people reaching the 1 percent cap,” Knott said. “Which means that we could have a very high circuit breaker loss in 2013.”
She said in 2012, the district lost about $280,000. In 2013, she said the district could expect a loss of about $400,000 in circuit breaker funds because of the decreasing assessed value.
Though the district faces a loss, she said they’re still financially stable with their funds with no bond bank assistance, no rainy day fund use to support the general fund and close to balancing expenditures with revenues.
The board passed the measure unanimously, but Doug Wacker, board member, was absent.
http://newsandtribune.com/business/x1200620918/Clarksville-Community-Schools-OKs-budget
