GOSHEN — The Goshen school board gave final approval Monday to a $71.2 million 2018-19 budget.
The adopted budget remained unchanged from figures discussed in previous budget discussions held during the board’s Aug. 27 and Sept. 24 meetings.
The total proposed budget for 2019 is down $4 million from the 2018 proposed budget, which totaled $75.2 million.
The district’s funding will look different for 2019 due to the General Assembly passing House Enrolled Act 1009.
The state legislature initially passed the act in 2017, but it will go into effect on Jan. 1.
The goal of HEA 1009 was to give school districts greater flexibility in spending to clarify how much is spent on student instruction versus operations and administration costs.
The law eliminated the general fund and replaces it with an education fund to be used as the exclusive fund to pay expenses allocated to student instruction and learning. It also created an operation fund to replace line items for capital projects, transportation and replacement fund.
Like the general fund, the main source of revenue for the education fund will be state tuition based on enrollment.
The operations fund, which will pay non-academic expenses, will be funded through local property taxes.
As for the Goshen Community Schools’ spending plan, the budget’s newly created education fund is budgeted at $40.5 million, while the budget’s new operation’s fund is estimated at $16.3 million.
The proposed budget also includes $1.75 million for the rainy day fund, $7.78 million for the debt service fund, $1.2 million for the referendum debt fund and $3.5 million for the referendum fund.
The adopted tax levy will be $24.9 million, school officials said, and the adopted tax rate will be 1.97 cents per $100 of assessed valuation.
The corporation’s adopted budget will now be submitted to the Indiana Department of Local Government Finance for review.