CEDAR LAKE | Hanover’s finances might be squeezed again this year, “though I hear there are a lot of good things around the corner,” business manager Dana Bogathy told the School Board of Trustees Wednesday.
The board held a special meeting Wednesday to go over 2014 budget numbers, which, as in past years will be impacted by tax circuit breakers, Bogathy said. Assessed value within the district has been squeezed in recent years, but “I’ve been told there’s a lot of construction going on,” which could raise assessed value in the future.
Hanover’s new superintendent, Thomas Taylor, got a baptism by fire in the process, as he started the job only a few months ago.
“It’s been a crazy ride,” Bogathy said. “I feel like Tom is my dartboard. I’ve been throwing a lot at him.”
Bogathy will advertise the proposed budget for two weeks, with the board acting on it in September. Budget numbers must be finalized by the state. Hanover is proposing a general fund of $13,467,786. Three different funds dedicated to debt service total more than $6.5 million.
The fund for capital projects is proposed at $1.08 million. The transportation fund is estimated at $548,768 and the bus replacement fund at $220,000.