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Jennings County board holds first presentation of 2026 budget; officials warn assessed-value changes could cut revenue
Summary
Board heard the first presentation of the 2026 budget. District staff outlined advertised fund totals, capital projects and bus-replacement plans, and explained how assessed value (AV) changes and pending state law could affect revenue.
The Jennings County School Corporation board received a first presentation of the proposed 2026 budget, including advertised amounts for major funds, capital project priorities and the district’s bus replacement plan.
The presenter said the first-version advertised totals for the district were an education fund of $35,000,000, debt service of $4,500,000, operations of $13,000,000 and a rainy day figure presented as $500,000,000. The presenter noted the slide years were incorrect on three bottom-line dates and told the board that the broad figures are intentionally advertised high to provide a margin of protection.
The presenter described budget components: the education fund supports salaries and instructional costs; operations covers insurance, utilities and facility maintenance; and debt service covers lease payments, common school loans and bond interest. Cash-balance slides showed an approximate $400,000 drop in cash balance year over year measured at Dec. 31, 2024 compared with Dec. 31, 2023.
The presentation also addressed assessed value (AV) sensitivity and recent state policy change. "If the AV was to drop 15%, you'd see we go from the 1.1 down to about 0.992," the presenter said, describing a potential $1.4 million loss tied to AV declines. The presenter said Senate Bill 1 introduces an additional layer of effect that will likely reduce AV and that staff will provide more detailed analysis at later presentations.
Capital priorities discussed included safety and security entrance work funded in a 2024 geobond and other projects that could be included in a 2025 geobond, such as HVAC work at Brush Creek. The board was shown a multi-year bus replacement plan and a capital-asset summary; the presenter said the plan is high-level and that details will be included in the packet submitted to the state.
Board members had no action on the budget at this meeting; the presentation was the first of multiple planned readings and the public hearing and adoption dates will follow the district’s published schedule.
