The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-08-26
32-CENT BOOST
ESTIMATED FOR
COMING YEAR
Total Appropriations Are
Set at S9,125,400,
Says York.
BIG SLASH Is MADE
Revised Figures Fail to
Provide for Proposed
New Buildings.
BIG SLASH IS MADE

WV SNHAiitSOs
The 1880 school city budget, to be
presented to the school board Tues
cay night for approval, will require
tax levy of Si.34, an increase of
20 cents over the 1929 levy, c. c.
York, business director, announced
today.
Total appropriations in the budget
Tor next year are 1929. 400.
The completed budget, as an
nounced today, carries a marked re-
auction over the figure as it stood
last week.
1t includes a working balance Of
only 100000 instead of more than
Sl,000,000, as had been proposed,
and makes no provision for new
Schools 81 and 80 and additions to
School, Is and 40, as had been
planned, to prevent reducing the
already low bonding power.
Nearly 100000 Up
The budget total, taking into
consideration the 100000 estimated
miscellaneous revenue for next
year, makes a grand total of SO, 1885,
400, which is nearly 1000, 900 more
than the budget total for this year
sS.073O21.
The levy and the amount it will
raise, BY funds: Special fund. $.592
s4,031, $50; tuition fund, $.679, S4,-
623.990; library fund, SOC, $408, 500;
free kindergarten fund, 5000,
S61.290.
Levy figures, by funds, this year
we're: Special, $.514; tuition, $.437;
library, sos: free kindergarten,
$0O9; total, s102.
The levy is based on total as
sessed valuation of s68l 900 900.
However. the actual valuation fig
IRE probably will be near $689. 0O0,-
600, which would permit a Accent re-
duction in the levy.
Deficit Is Shown
York's statement revealed a s173.-
s84 deficit in the sinking fund. The
special school fund levy for this
year of 1924 provided S605 900 for the
sinking fund payment, but when The
tax board ordered the levy reduced
to $.514 the appropriation for pay
ment from special school fund to
sinking fund was left to bear the
entire reduction of $4,000, York
said.
The law requires a payment OF D
per cent of the outstanding indebt-
ednesS each year.
In addition, he reported, transfers
we're made from the sinking fund
for supplementary books, new build
ings, and additions, Shortridge and
Arsenal Technical high school FUNDS
in the sum of $106.584, a procedure
held to be irregular by organizations
scrutinizing the budget.
Furthermore, he pointed out, pro-
vision for janitors, carpenters and
similar employees was $4,000 less
than requirements.
Total deficit shown in the special
fund is $28O.163, while the tuition
fund deficit this year will be
$137,800.
Capital Outlay Large
The 1890 budget includes an item,
of $1.l18.O00 for capital outlay, not
included in the budget for this year
This includes S450000 for the first
unit of Broad Ripple high school;
S392.0oO for new School 20 and adj
ditions to Schools 6 and 8; ano
100000 to purchase real estate fol
Schools 8, 80, So, AZ and 20.
Total capital outlay appropriation
including equipment and street i'm
provementS, is 81 400 086.
Increase of $271 ,224 in the tuition
fund, from which teachers are paid
is shown, making the fund tota
S4,505,924. This is due to the in
creaSing salary schedule.
Reduction of $500 is shown II
the library fund appropriations.
Temporary loans of S1250,00t
must be retired this year, York re
ported, not including another $780,,
900 temporary loan, which must b.
made at once. OF this amour
100000 will be needed to proyid,
for September teachers salaries.
Will Eliminate Loans
The 100000 working balance in
Guided in the budget this year i
for the purpoSeof gradually elm
mating the necessity for making
temporary loans.
Only $4,000 was allowed in tn
budget for this year to pay in
terest on temporary lonas. wherea
the total interest payments by tn
close of the year will be S46,36S.
The budget fro this year provide
$137,80 less for teachers Salarie
than the contracts of teachers calle'
for. York said. The tuition funt
for next lyear is S.242 higher thai
that of this year.
Dry Raiders Arrest Ten
ANDERSON, Ind, Aug. 26.-Te
persons we're arrested by authori