Endowment Corporation will pay debt service, text book fees


The Switzerland County School Endowment Corporation is again taking a financial burden off both parents and taxpayers.

At the endowment meeting Tuesday night, the members of the corporation voted to pay all of the text book rental fees for students for the coming school year; and also voted to pay the debt service portion of the school corporation’s tax rate.

This is the third year that the endowment corporation has paid text book rental fees. School superintendent Tracy Caddell, who is a member of the endowment corporation, said that this saves Switzerland County families an average of about $100 per child – money that can now be used for other things as the school year approaches.

“I’d like to thank the endowment corporation and the school board for again paying these fees for parents,” the superintendent said. “Both boards are really helping out the families of Switzerland County.

For the fourth straight year, the endowment corporation will also pay the debt service portion of the school corporation’s tax rate.

This move helps every taxpayer in the county, and amounts to a sizable savings for many landowners.

The current debt service rate – which is a portion of a tax dollar that goes to make annual payments on school corporation debt, such as building payments – is about 30-cents.

That means a family with property with an assessment of $100,000 is saving approximately $300 per year.

“Through the work of the endowment corporation, Switzerland County taxpayers are seeing a significant savings,” Tracy Caddell said. “I think both the endowment and the school board needs to be complimented for that, because they are thinking about students and families and landowners in Switzerland County.”

The endowment corporation also approved a payment of $25,000 to the Switzerland County YMCA on Tuesday. This agreement will allow the YMCA to be used for school activities as needed; and it will also allow the continuation of the popular program that provides swim lessons for every second grade student in the corporation.

Members of the Switzerland County School Endowment Corporation are: Kenny Griffin, Tom Scott, Mark Lohide, K.C. Banta, and Tracy Caddell.