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Silver Creek board hears finance briefing that flags rising ‘circuit breaker’ losses
Summary
District finance staff told the Silver Creek School Corporation board on April 20 that rising property-tax ‘circuit breaker’ credits and other pressures could cost the district more than $1 million in 2026 and escalate toward $2.2 million by 2028, and outlined near-term large expenditures.
Todd presented the district’s first-quarter financial snapshot to the Silver Creek School Corporation board on April 20, saying the education fund began the year with roughly $5.6 million and revenue through March stood at about $6.6 million while expenditures are tracking at about 24.2% of appropriations.
“That’s where you want to sit,” Todd said, noting the district was under the 25% guideline but faces several large upcoming payments. He identified near-term obligations including three processor payments (roughly $350,000), employer contributions to retirement and VEBA plans (about $550,000), Chromebook purchases (about $350,000)…
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