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Porter Township School Corporation

Porter Township School Corporation. Financial Moment May 2013. Legislative Update. Biennial Budget FY 14 has a 2% increase state-wide through the formula and a 1.7% increase in dollars per ADM

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Porter Township School Corporation

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  1. Porter Township School Corporation Financial Moment May 2013

  2. Legislative Update • Biennial Budget • FY 14 has a 2% increase state-wide through the formula and a 1.7% increase in dollars per ADM • FY 15 has a 1% increase state-wide through the formula an a 0.5% increase in dollars per ADM (inflation is projected at 1.6%) • These numbers are on average—and not what each district will see • 115 school corporations will receive less money than FY13 and 6 school corporations will be flatlined (42% of all corporations)

  3. Legislative Update • Legislators forgave all charter school loans from the Common School Fund ($91 million) • The use of vouchers were expanded (HB 1003) • The amount of funding per voucher was increased to $4700 in FY14 and increased to $4800 in FY15. (4.4% increase) • The state can transfer up to $25 million per year to tuition support to expand vouchers • The February count will now factor in to the formula • The complexity index will change from using free and reduced lunch data to free textbook data • FY14 FDK will be $2448 and in FY15 to $2472 (increases) • $30 million for school performance awards (ISTEP+, graduation rate)

  4. Legislative Update • $20 million was added to the budget to fund a matching grant for school resource officers • Public school transfers after July 1, 2013: • Must determine how much capacity we have per grade level • If we have more apply to transfer than space is available a lottery is used to select • May deny a transfer if the student has been suspended or expelled in the last 12 months for 10 or more school days, for causing physical injury to a student/employee/visitor to the school, or a violation of a school corporation's drug or alcohol rules

  5. What does this mean? • In 2010, $327 million dollars was cut to public education • In FY14 and FY15 public education will receive an additional $300 million • Previous funding levels have not been restored • State revenue forecast was increased by $290 million • 1% increase to the formula has a cost of about $58 million • The legislators decided to reduce Indiana income tax (2017) rather than putting more money into public education

  6. Transition to Foundation

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