What referendum rate will the board decide on and why?
The board hired a third-party certified public accountant firm, Umbaugh and Associates, to project revenue and expenses for the school corporation through 2018. The school board will vote on a rate not to exceed 0.21 per $100 of assessed value. This rate would raise additional revenue of up to $5 million per year for the general fund of the schools. The average homeowner living in a $190,000 home would see an increase of less than $16 per month, fifty-two cents per day, in their property tax at this rate. The projections show that this amount if combined with some careful expense controls and some projected changes in the funding formula over the next seven years, will be adequate in providing for the continued excellence demanded by the residents of the Crown Point Community School District.
