North Knox Expects Drop in Funding Next Year
The North Knox School Corporation expects to have less money to spend in its 2014 budget.
Superintendent Darrell Bobe says the corporation's total budget for next year will be around eight-million 784-thousand dollars.
That's 75-thousand dollars less than what the corporation got in 2013.
The decrease in funding is due, in part, to state mandated caps on Bus Replacement funds.
The state only allows an increase of up to 2.6 percent, which totals to just over 63-thousand dollars.
Bobe estimates the fund needed to have over 116-thousand dollars.
Another reason is the maximum tax levy of 18 cents per 100 dollars of assessed valuation for capital projects, which is down from last year.