The estimated income-tax revenues New Albany provided the school district last week were incorrect.

The estimated income-tax revenues New Albany provided the school district last week were incorrect.

Communications director Scott McAfee said the figures were calculated incorrectly and showed a higher percentage of revenue in fiscal years 2013 to 2016. The actual estimated income tax to be shared with the district is: $4.105 million in fiscal year 2012; $4.231 million in fiscal year 2013; $4.481 million in fiscal year 2014; $4.715million in fiscal year 2015; and $4.972 million in fiscal year 2016.

Figures provided previously to the financial review and reporting committee showed the district would receive: $4.413 million in fiscal year 2012; $6.121 million in fiscal year 2013; $6.462 million in fiscal year 2014; $6.834 million in fiscal year 2015; and $7.231 million in fiscal year 2016.

Superintendent April Domine said even though the school board approved its five-year financial forecast Oct. 24, the change in estimates would not affect the forecast. She said the board passed the forecast assuming anticipated revenues of $4.1 million in fiscal years 2012 to 2016. She said the board would review the forecast again in May and can discuss changes then and amend the forecast then if needed.

The city collects income-tax revenue from its business campuses. For most business campuses, the first 30 percent collected is used pay off infrastructure debt incurred from developing the campuses. The other 70 percent is split equally between the city and the school district that has jurisdiction over the land on which the business paying income taxes is located.

The only business campus that is different is the Blacklick business campus, which houses Abercrombie & Fitch. McAfee said the first 50 percent of income taxes from that campus pays off infrastructure debt and the rest is split between the city and the New Albany-Plain Local School District.