Business & Finance

CPCSC Financial Update

Crown Point Community School Corporation is proud of our longstanding commitment to fiscal responsibility. We wisely use our community's tax dollars to invest in our students, our staff and our facilities.

Information is from the 2022-2023 CPCSC budget and/or the 2023 IEERB Teacher Compensation Report.

Where Our Money Comes From

Where Our Money Comes From*

Indiana’s education funding formula is the largest source of revenue for CPCSC and accounts for roughly half of the dollars brought in each year. Property taxes account for 28%. Although more than 70 local and state grants contribute money to CPCSC annually, they make up less than 2% of the district’s total revenue. These grants are valuable for student programs but do not significantly increase annual income. Many people are surprised to learn that federal funding only contributes 7% to the district’s income.

Pie chart divided into six segments, each represented by a different color

Our Expenses

Our Expenses*

CPCSC invests our resources to benefit all students, maintain efficient operations, and deliver a quality education. The majority of district funds are used for salaries and benefits. Our greatest asset is the amazing team of teachers, support staff, and administrators we employ. As a service organization, we spend most of our money on people. The average CPCSC teacher salary is $71,000 (the state average is $57,700), and new teacher salaries start at $59,000 (the state average is $45,655). CPCSC new teacher salaries are above the average salary for all teachers in the state.

Illustration of a one-dollar bill divided into several sections by vertical black lines.

Understanding the Tax Rate

For CPCSC homeowners, the 2024 overall tax rate is the 3rd lowest it has been in the 13 years since the district passed an operating referendum. Despite the $350 million in capital projects, the debt rate has remained steady and is lower today than it was just 9 years ago. During the 2010’s the district’s target tax rate was between $1.30-$1.40. The target tax rate for 2020’s has been reduced to between $1.20-$1.30.

For Crown Point Schools, the overall tax rate is made of three rates including debt service, operations fund, and referendum operating fund. Each rate is determined by the school district’s budget needs and the property tax base, then combined to form the total tax rate. This total rate is applied to the assessed value of property within the district to generate the necessary revenue for the school district’s operations and obligations, accounting for 28% of CPCSC’s income. The tax rate impacts the funding available for education, influencing the quality of facilities, programs, and resources provided to students. When the revenue from these taxes is used to fund schools, it can enhance property values and the quality of life within the community.

Planning for the Future

CPCSC is nearing the completion of $350million in capital improvement projects. These projects were funded through bonds, so residents had no increase in their tax rate.

CPCSC expanded buildings to accommodate future growth and added more than 100 classrooms. We created more community, athletic, and performance spaces, and added 21st century learning spaces such as elementary STEM rooms, a high school CNA lab, and science and robotics labs. Every building in the district received money for capital projects, which means every student benefits from the upgrades.

While Crown Point, Cedar Lake, and Winfield have growing populations, families are staying in their homes after their children graduate. New students are replacing our graduating seniors at an equal rate. This means our anticipated student growth over the next ten years is expected to be low.