Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
Mishawaka board reviews finances, approves March reports and readies explanation for education-to-operations transfer
Summary
The School City of Mishawaka board approved December and March financial reports, voted to advertise additional appropriations and placed its required explanation of an education-to-operations fund transfer above 15% on the record for state review.
Mishawaka — The School City of Mishawaka Board of School Trustees on May 7 approved December and March financial reports, authorized advertising for additional appropriations and agreed to submit documentation explaining why an education-to-operations fund transfer exceeded the state guideline.
The action matters because the district reported an education-to-operations transfer above the 15% threshold cited by the Indiana Department of Education and will send a packet explaining the district’s circumstances and budget strategy.
Finance director Mary Dutoy presented the financial summaries and told the board the education fund closed December with a balance of $9,796,629. She said the referendum operating fund carried about $2,000,002 into 2025 and that various restricted funds — including debt service and capital funds — were being managed for upcoming payments. Dutoy told the board the operations fund was negative $422,845 at the end of March but said the district expects tax revenues in June to move the fund back into the black.
Dutoy also described a larger transfer the district made in 2024 — 18.11% — and said the packet the board will send to state officials will explain the local effect of the circuit breaker and other revenue limits. "Our circuit breaker takes two thirds of our operations levy before we ever see $1," she told the board, saying the district transfers funds to maintain comparable per‑student spending levels.
The board voted, by voice, to accept the December and March financial reports and to approve an itemized list required by the state showing transfers that exceeded guidance. The board also approved advertising for additional appropriations after state legislation increased the foundation amount, and adopted the 2026 budget calendar.
No roll‑call tallies were recorded in the meeting minutes; motions were passed by voice vote with the chair asking for "all those in favor, say aye." Dutoy noted the district will include comparisons to peer districts and explanatory materials when sending the transfer documentation to the Indiana Department of Education.
Board President Parks and Superintendent Stevens participated in the discussion but did not propose alternate motions. Dutoy said the district continues to monitor fund balances and will revisit strategies for operations funding as tax revenues are received.
Looking ahead, Dutoy asked the board to approve the advertising of additional appropriations to account for new state foundation funding and to reallocate curriculum material funds into the education fund per recent legislative changes.
