Posted on September 22, 2018
Author Jacque Ryan, WKVI
North Judson San Pierre school board members held a hearing over the 2019 budget, capital project plan and bus replacement plan when they met on Tuesday.
No public comments were provided. The hearing was adjourned and members moved onto the budget adoption section of the meeting, where a number of items were listed for their consideration.
In addition to adopting the 2018 General Fund and Rainy Day Fund appropriations reduction resolutions, members adopted the budget and the capital projects and bus replacement Plans for 2019.
Members also adopted a resolution for an advertised budget reduction, resolutions to establish the Education and Operation Funds, as well as resolutions to establish the initial funding for those funds.
The final resolution permitted funds to be transferred from the Education Fund to the Operation Fund.
Superintendent Dr. Annette Zupin provided some clarification about this resolution, stating that certain non-education related expenses that used to be paid out of the General Fund will now need to be paid out of the Operation Fund.
However, since the funds that were previously stored in the General Fund will now go into the Education fund, a resolution has to be in place to allow those transfers to be made. Zupin added that any future transfer requests will still need to come before the school board for approval.
Showing posts with label Education Fund. Show all posts
Showing posts with label Education Fund. Show all posts
Saturday, September 22, 2018
Monday, June 25, 2018
NJ-SP Officials Discuss Necessary Budget Changes Due to State Policy Passed in 2017
Posted on June 23, 2018
Author Jacque Ryan, WKVI
When North Judson-San Pierre school board members met on Tuesday, they discussed an upcoming change that will impact how the school corporation keeps track of finances.
Superintendent Dr. Annette Zupin reminded the board members about a House Enrolled Act (HEA 1009) passed in 2017 that will go into effect on January 1, 2019. This will impact all schools, not just NJ-SP. According to Zupin HEA 1009 will eliminate a few different accounts including the capital projects, transportation, bus replacement and general funds. Those will all be replaced with two new funds; the Education fund and the Operations fund.
She explained that the Education fund will be utilized for distributions of tuition support and it will only be used for expenses allocated to student instruction and learning.
On the other hand, the Operations fund will be used to pay for non-academic expenses. Funds and levies will be consolidated here, including the transportation, bus replacement and capital projects funds. Zupin noted that plans will still need to be submitted for Capital Projects and Bus Replacement.
Though the new rules won’t go into effect for months, the budget process for next school year is currently ongoing so the changes it will cause are incredibly relevant to the schools’ financial advisors.
Dr. Zupin said that Business Manager and Treasurer Guy Richie and the corporation’s other business managers have been working diligently to assess past finances and prepare the budget for next year, with this shift in mind.
Moving forward, Zupin said it will be important for officials to monitor, analyze and interpret how the Education and Operations Funds interact. She added that they’ll also need to continue observing enrollment to ensure a proper student-to-teacher ratio.
Zupin stated that a work session will be held in August to allow for more discussion over this topic. For more information, click the following link to download the Indiana Department of Education press release about HEA 1009.
Author Jacque Ryan, WKVI
When North Judson-San Pierre school board members met on Tuesday, they discussed an upcoming change that will impact how the school corporation keeps track of finances.
Superintendent Dr. Annette Zupin reminded the board members about a House Enrolled Act (HEA 1009) passed in 2017 that will go into effect on January 1, 2019. This will impact all schools, not just NJ-SP. According to Zupin HEA 1009 will eliminate a few different accounts including the capital projects, transportation, bus replacement and general funds. Those will all be replaced with two new funds; the Education fund and the Operations fund.
She explained that the Education fund will be utilized for distributions of tuition support and it will only be used for expenses allocated to student instruction and learning.
On the other hand, the Operations fund will be used to pay for non-academic expenses. Funds and levies will be consolidated here, including the transportation, bus replacement and capital projects funds. Zupin noted that plans will still need to be submitted for Capital Projects and Bus Replacement.
Though the new rules won’t go into effect for months, the budget process for next school year is currently ongoing so the changes it will cause are incredibly relevant to the schools’ financial advisors.
Dr. Zupin said that Business Manager and Treasurer Guy Richie and the corporation’s other business managers have been working diligently to assess past finances and prepare the budget for next year, with this shift in mind.
Moving forward, Zupin said it will be important for officials to monitor, analyze and interpret how the Education and Operations Funds interact. She added that they’ll also need to continue observing enrollment to ensure a proper student-to-teacher ratio.
Zupin stated that a work session will be held in August to allow for more discussion over this topic. For more information, click the following link to download the Indiana Department of Education press release about HEA 1009.
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