Portage schools to advertise flatline budget

2014-06-15T21:00:00Z 2014-06-16T06:08:59Z Portage schools to advertise flatline budgetJoyce Russell joyce.russell@nwi.com, (219) 762-1397, ext. 2222 nwitimes.com

PORTAGE | Portage Township Schools will advertise a flatline budget for 2015.

During his final meeting last week, Superintendent E. Ric Frataccia gave the School Board a first look at the 2015 budget.

"We are advertising a zero increase in the general fund because we anticipate zero percent increase in new money," Frataccia said, adding they are projecting the district will get between $30,000 and $40,000 in new money next year.

The general fund will be advertised at about $54.6 million.

Frataccia said they have also had to shift money to make up for the $240,000 decrease in Title I funding next year.

School Board President Cheryl Oprisko said she believes the district should be advertising a larger budget just in case the district receives more money.

Frataccia said the budget is based on the best estimates and projections available at this time.

The capitol projects fund will remain at about $8.5 million in 2015, the same as in 2014. Frataccia said this budget is capped, based on tax rates.

The bus replacement plan budget will decrease about $600,000 in 2015 because the district will be replacing 10 buses, fewer than this year. It will be advertised at $1.1 million.

The transportation fund will be advertised at $6.2 million for 2015, the same as in 2015.

The debt service fund will increase by some $445,000 due to two technology-related common school loans. It will be advertised at $7.4 million.

The school pension debt service fund will decrease by $2,000 to $1.4 million.

The total budget will be $79.4 million, an overall decrease of about $400,000. The tax rate will increase by 6 cents during the advertising process, but, Frataccia said, he anticipates the rate will decrease with an increase in assessed valuation.

"Overall the district is in excellent financial condition," he said, adding the public hearing on the budget will be July 21.

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About Portage

City Hall
6070 W. Central Ave. Portage, IN 46368
(219) 762-5425

Police Department
2693 Irving Street Portage, IN 46368
(219) 762-3122

Fire Department
3401 Swanson Rd Portage, IN 46368
(219) 762-7404

Portage Township Schools Administration Center
6240 U.S. Highway 6 Portage, IN 46368
(219) 762-6511

Porter County Public Library
2665 Irving Street Portage, IN 46368
(219) 763-1508