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
Student Support
Dec 2009
$5,300.15
Dec 2010
$5,247.00
Dec 2011
$5,086.50
Aug 2012
$5,051.43
2013
$5,045.61
2014 Foundation
$4569
2015 Foundation
$4587