North Knox School Corp approves 1782 notice, $1.4M transfer and reports higher interest income

The North Knox School Corp board on Wednesday approved its annual Form 1782 budget notice and a $1.4 million transfer from the education fund to the operations fund, board members said.

Treasurer Terry Rosler told trustees the Department of Local Government review approved the budget as submitted and that the school corporation’s general fund transfers followed limits set by state statute. "In 2025 we made $464,000 in interest," Rosler said when reviewing the annual interest and investment report, noting the corporation’s interest earnings were substantially higher than the $30,000–$40,000 range seen in earlier years. The board approved the investment report by voice vote.

Rosler said the board transferred $1,400,000 last year and asked that the same transfer be approved again; he noted state statute constrains the amount that may move between funds. Board members also approved a year‑end balancing transfer to reconcile line balances.

On the tax rate, staff reported an estimated levy rate of about 0.5672 for the year, a change the presenter attributed to recent state tax‑reform adjustments that affected assessed value; assessed valuation for the district was reported as about $1,472,514, down roughly $22 million from the previous year. Staff said the district missed the maximum CDF amount by $783 but that the overall budget was approved by state reviewers.

The board approved the 1782 notice by voice vote. Trustees set follow‑up reporting to compare finalized statewide ranks once other districts’ budgets are posted.