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 Rainy Day Fund. Show all posts
Showing posts with label Rainy Day Fund. Show all posts
Saturday, September 22, 2018
Thursday, January 18, 2018
School Superintendents Monitor State Legislative Proposals
Posted on January 18, 2018
Author Michael Gallenberger, WKVI
Local school superintendents are keeping an eye on some bills being considered by the Indiana General Assembly.
One of the big concerns is that the state hadn’t set aside enough money to distribute to local schools according to the state’s funding formula. West Central Superintendent Don Street says he’s watching the efforts currently underway to fix the problem. “There’s a bill going through that will allow some more money through the state Rainy Day Fund, surplus cash,” he explains. “That money will be allocated to schools to help us not have a deficit from what we had been promised or anticipated in getting, based upon our ADM and some of the other formulas involved with that.”
Meanwhile, Eastern Pulaski Superintendent Dan Foster says he’s keeping an eye on changes to the state’s A-to-F grading system. “If you’ve read any of the articles, basically about half of the State Board of Education didn’t know this was coming at that meeting, and yet, it got passed,” he says. “So now they’ll open public comments in a few weeks, and we’ll see where that goes. Hopefully, calmer heads will prevail, and it won’t be as bad as we think.”
But beyond that, Foster says there are some bills that aren’t specifically related to education, but would still have a big impact on public schools. During Monday’s school board meeting, Foster highlighted two different Senate bills that aim to raise Indiana’s minimum wage. “That’s going to hit us in the budget, and where does that money come from? We’re a tax-based organization. We don’t have the option to go raise our prices.”
Senate Bill 308 proposes raising the minimum hourly wage to $11.31, while Senate Bill 121 would gradually raise it up to $15 between now and 2021
Author Michael Gallenberger, WKVI
Local school superintendents are keeping an eye on some bills being considered by the Indiana General Assembly.
One of the big concerns is that the state hadn’t set aside enough money to distribute to local schools according to the state’s funding formula. West Central Superintendent Don Street says he’s watching the efforts currently underway to fix the problem. “There’s a bill going through that will allow some more money through the state Rainy Day Fund, surplus cash,” he explains. “That money will be allocated to schools to help us not have a deficit from what we had been promised or anticipated in getting, based upon our ADM and some of the other formulas involved with that.”
Meanwhile, Eastern Pulaski Superintendent Dan Foster says he’s keeping an eye on changes to the state’s A-to-F grading system. “If you’ve read any of the articles, basically about half of the State Board of Education didn’t know this was coming at that meeting, and yet, it got passed,” he says. “So now they’ll open public comments in a few weeks, and we’ll see where that goes. Hopefully, calmer heads will prevail, and it won’t be as bad as we think.”
But beyond that, Foster says there are some bills that aren’t specifically related to education, but would still have a big impact on public schools. During Monday’s school board meeting, Foster highlighted two different Senate bills that aim to raise Indiana’s minimum wage. “That’s going to hit us in the budget, and where does that money come from? We’re a tax-based organization. We don’t have the option to go raise our prices.”
Senate Bill 308 proposes raising the minimum hourly wage to $11.31, while Senate Bill 121 would gradually raise it up to $15 between now and 2021
Thursday, February 18, 2016
N.J.-S.P. Places Money in Rainy Day Fund for First Time
The North Judson-San Pierre School Corporation is hoping a change in how leftover money is budgeted will help keep the corporation running until significant spending cuts take effect. The corporation has decided to make money available for use in the corporation’s Rainy Day Fund.
During Tuesday’s school board meeting, Interim Superintendent Bob Boyd explained how the fund works. “When you end the budget year, if you have dollars left over, those dollars can stay in that fund from which they are originated, or you can go to an all-funds balance – they call it a Rainy Day Fund,” he said. “The General Assembly allows us by statute to pool all of those dollars into an all-funds balance called a Rainy Day Fund that can then be used through appropriation for a rainy day activity, an emergency of some kind.” He says right now, the corporation’s emergency is cash flow, since it needs to have money available to meet payroll on an ongoing basis.
N.J.-S.P. Business Manager Guy Richie says while the corporation has never made use of its Rainy Day Fund, the concept isn’t exactly new, “We established a Rainy Day Fund, I think maybe 13, 14 years ago, but we never did want to actually put money into it. We ran this place without having to dip into other funds. [That’s] what you’re really doing here. But obviously we’ve gotten to the point we need some help for the General Fund.”
To provide that help, the school board unanimously approved a transfer of just under $100,000 from the Capital Projects fund and nearly half a million dollars from the Transportation Fund into the Rainy Day Fund. Richie says that because the corporation has an appointed school board, the transfer will go before the Starke County Council on March 21, who will decide whether to approve it as an additional appropriation. If it’s approved, the corporation will then be able to start spending that money.
The revitalization of the Rainy Day Fund came during the same meeting that the school board approved a framework for the “right sizing” of the corporation. Interim Superintendent Bob Boyd says the corporation won’t see the full benefits of the new framework until 2017, and the cash reserves in its operating budget are currently running out.
Boyd pointed out that the corporation’s General Fund does not get any income from property taxes, and a referendum that would have changed that was rejected last fall by voters in the district.
Subscribe to:
Posts (Atom)