The uncertainty surrounding funding for schools has officials at the John Glenn School Corporation planning for the future.
Business Manager Tom Bendy spent some time during Tuesday’s school board meeting going over specific numbers to give the board members an idea of what is projected in the coming months. He noted that the State may cut a proposed increase in the funding formula related to the Average Daily Membership. Aside from that, there will be less funding coming in due to a drop in sales tax, income taxes, excise taxes, commercial vehicle excise taxes, and federal income tax due to the coronavirus.
A portion of property tax distributions will be made in June and another partial distribution is anticipated in August. The balances should continue to look good in the funds while the corporation awaits those distributions.
Bendy said his push to keep the cash balance healthy may come in handy in the coming months. While cuts are expected, Bendy believes that the school corporation will remain in good shape. He commented that time will tell.
In the short term, Bendy said the board should continue to monitor State revenue and correspondence, position the next school year with staff and supplies, prepare the 2021 budget with conservative revenue and expenditure projections and begin to tighten the current budget in anticipation of cuts coming later this year or next spring.
