Zionsville Schools' shortfall could still grow

Mark Ambrogi

Nov. 5, 2009 (McClatchy-Tribune Regional News delivered by Newstex) -- Zionsville Community Schools stands to receive considerably fewer tax dollars in 2010 and 2011 than first estimated for capital projects, transportation and buses, officials said.

The Indiana Legislative Services Agency updated its estimates on how much communities and school districts will lose in tax revenue due to the state's property tax "circuit breakers" -- a cap on homeowners' tax bills equal to 1 percent of the gross assessed value of the home.

"In our case, and in quite a few others, their numbers were quite a bit different than the numbers they had released in March," said Zionsville Schools chief financial officer Mike Shafer.

In March, the estimate was that Zionsville Schools would receive almost $400,000 less in property tax revenue in 2010 and $600,000 less in 2011.

In October, the Legislative Services Agency changed those figures to $770,000 less in 2010 and about $1,577,000 less in 2011.

Shafer said these are still projections.

"I don't know if anyone has a handle yet on what those numbers are going to prove to be in the real world," he said.

Shafer said it would be six more months until those tax bills are calculated by the Boone County auditor and treasurer for 2010.

"Then we'll find out how accurate those projections are," he said.

Until the district has accurate numbers, Shafer said, it is premature to determine what kind of cuts will be needed to make up for the loss of those funds.

In April, Zionsville Schools made $2.5 million in various cuts in the general fund for 2010.

A cost-cutting committee composed of community volunteers has been formed to examine ways the school district can save money, Shafer said.

"We'll be able to see if there are ways to reduce the general fund from recommendations from that effort," Shafer said. "The actual budgeting for the general fund won't start until last spring and go on through the summer."

Zionsville Schools Superintendent Scott Robison said the cost-cutting committee is already making some recommendations.

"We're sharing some of the information with the board as preliminary stuff," Robison said. "I'm gathering suggestions and costs that are potentially saved by this group, and then we'll take to the public after the first of the year.

"We think we'll be able to handle the worst-case scenario. It's going involve some real evaluation on costs that can be avoided."

Robison said that might involve a more efficient energy plan.

"We're kind of turning up every stone right now," Robison said.

Newstex ID: KRTB-0095-39481008