News & Press: IASBO News

GOVERNOR HOLCOMB ANNOUNCES FULL-FUNDING FOR SCHOOL CORPORATIONS FOR FY21

Wednesday, June 17, 2020  

GOVERNOR HOLCOMB ANNOUNCES FULL-FUNDING FOR SCHOOL CORPORATIONS FOR FY21

This afternoon Governor Eric Holcomb announced that the school distribution formula for the next fiscal year will be fully funded.  He stated that he was very pleased to make this announcement with the full support of the General Assembly.  Therefore, an additional $183 million (2.5% state-wide) will be added to the funding formula beginning on July 1.  With the threat from the pandemic and decrease in state revenues, he was happy to report that there would be no cuts to K-12 funding.  He emphasized that education continues to be an important priority for the Governor’s office and the General Assembly.  IASBO thanks the Governor and his staff for making K-12 fiscally whole for the school formula for the next fiscal year.

Secondly, the Governor stated that he fully supports the guidance from Dr. Jennifer McCormick and the DOE regarding the 85/15% issue dealing with ADM counts for the next school year.  Further, at the State Budget Committee meeting today, Senator Ryan Mishler (chair of the Senate Appropriations Committee) and Representative Tim Brown (chair of the House Ways & Means Committee) voiced their support of the DOE guidance on counting ADM in the fall.  This is an issue that IASBO and the other education associations have been discussing with the Governor’s office and legislators for the past several weeks.   IASBO thanks the great leadership of Dr. McCormick for moving forward with the DOE’s guidance on the ADM issue and appreciates the support of the Governor and key legislators. 

These are both positive announcements, and I will have additional thoughts soon as we head into the new fiscal year.  The pandemic and economic concerns are still with us.  All of us must continue to keep the “big picture” on the front burner as we move forward.