Years ago, taxes were enacted to pay for education in the community for the children. The population found taxes as a good way to obtain money so other government agencies and public services joined in with raising taxes. When an area was plotted for development, the land was divided into sixteen lots and you had to designate one lot for education. This is why when you drive around in the county you can find schoolhouse relics out in the countryside. There are still various school buildings in the boundaries of today’s Twin Lakes School Corporation.

Education is not part of the U.S. Constitution so it becomes the responsibility of each state. The State of Indiana has determined the amount and the way monies are collected for education. There are four funds predominantly used by school corporations. Two funds are controlled by the State and two have some local control but are limited by State limitations/regulations.

These funds have defined ways the dollars can be spent. Money in one fund cannot be spent on another fund. An example is: Money in the Operations Fund that pays for the purchase of a bus cannot be used for teacher salaries. We can sell a bond to build a structure but we cannot use any of that money for student programs or staff insurance or salaries.

Education Fund

The state sends this money to every school corporation. The amount is determined by the state and Twin Lakes Schools cannot increase this amount. Please remember, our cost remains the same for one class if we have 18 or 28 in the class. The smaller the class size, the more attention for each student.

This fund pays for salaries, wages, insurance and benefits for building level administrators, teachers and aides that are in classrooms or provide student programs, supplies for the student instruction and staff development. All of the student technology is financed from this fund as each student has a chrome book. In 2022 we received $7,236 per pupil. In 2023 we received $7,486 per pupil. In 2024 we will receive $8,126 per pupil. These additional funds per pupil helped us pay for teacher raises over the past three years.

Operations Fund

This fund is controlled by the state. The state determines how much money can be raised locally by taxes. Salaries, insurance, wages and benefits for central office employees, bus drivers and custodians are included in this fund. The maintenance supplies for the corporation and utilities for all the buildings will be paid from this fund. Another requirement of this fund is to purchase school buses. A bus needs to be replaced after 12 years. Vehicles come from this fund as well as fuel for all transportation needs. Another portion of this fund is delegated to capital projects, repairs, replacement of equipment, larger maintenance projects, exterior and grounds work.

Debt Service Fund

This is the fund the school corporation raises local tax money to make payments from. Payments for bonds and interest as well as our building mortgage payments are allocated from here. The dollars raised must match the exact required payments for the year. You are not allowed to “save” money in this fund or maintain cash balances.

The school periodically sells annual general obligation bonds (G.O.) to pay for larger maintenance projects such as HVAC work, playgrounds, roof work, large equipment needs/replacement and other similar items. This bond money cannot be used for salaries. A state formula determines how much schools can sell in bonds each year without public approval.

TLSC maintains the total school tax rate through this procedure to keep its rate as one of the lowest school tax rates in Indiana. The total tax rate has remained in the sixty seven cent range for the past 4 years. Even with a proposed referendum tax of twenty five cents, Twin Lakes' total tax rate will be in the lowest half of Indiana schools.