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School board preliminarily approves parameters for up to $6.6 million bond; outlines budget timeline
Summary
The McCutcheon School Corporation board unanimously approved a resolution preliminarily setting financial parameters for a possible $6.6 million bond issue and reviewed the timeline for adopting the 2026 budget and capital plans, with staff warning of future pressure on the operations fund and uncertain state tax changes.
The McCutcheon School Corporation Board on Tuesday unanimously approved a resolution preliminarily authorizing financial parameters for a potential bond issue of up to $6,600,000 and reviewed a five‑month budget adoption timeline leading to formal adoption in October.
The board voted 7-0 to pass the preliminary resolution. Doctor Penrod, presenting the district’s budget schedule and the bond proposal, said the resolution establishes the financing parameters now and that a public hearing will be held at the August meeting before any final decision.
The timeline outlined by Penrod calls for a high‑level budget workshop in August, public advertising and a public hearing on capital projects, bus replacement and the operating budget at the September meeting, and formal adoption of the 2026 budget, a 2026–2028 capital projects plan and a 2026–2030 bus replacement plan at the October…
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