Hoosier lawmakers approve plan to close school funding shortfall
INDIANAPOLIS — Hoosier lawmakers agreed Wednesday to spend up to $100 million from state reserves to close an education funding gap caused by greater than anticipated enrollment at Indiana public schools.
House Enrolled Act 1001 authorizes the state budget director to transfer $25 million from Indiana's tuition reserve account to cover any state school funding shortfalls in the current academic year, and up to $75 million during the 2018-19 school year.
The extra money is needed because the two-year state budget adopted last April relied on enrollment estimates that undercounted the number of students attending kindergarten through 12th grade classes at Indiana public schools.
Without the fix, schools would have seen slightly reduced per pupil instructional funding later this year. Indiana annually spends $7.1 billion on elementary and high school education.
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