The Bartholomew Consolidated School Corp. plans to use more than $1 million of local income taxes it receives in 2018 for capital needs.
School board members Monday unanimously voted to approve a resolution designating $1.3 million collected through local income taxes to be placed in the district’s capital projects fund.
The capital projects fund is used to support the district’s technology department, in addition to maintenance projects and upgrades for different BCSC school buildings, said Chad Phillips, assistant superintendent for financial services.
The capital projects fund for 2018 has been set at nearly $14.2 million, a 5.77 percent increase compared to this year, according to the district. The school board passed its $115 million budget on Oct. 23.
Phillips said the projected $1.3 million figure was determined by the state’s Department of Local Government Finance. However, the state agency calculated that amount before Bartholomew County raised its local income tax rate from 1.25 to 1.75 percent in early October, he said.
Phillips also said the district remains uncertain whether the DLGF’s projected amount for 2018 will change.
“If we end up collecting more than what was projected by the DLGF, then that amount will go to the general fund,” Phillips said.
