School treasurer reports $13 million in education funds, warns of potential state cuts and protects $12 million rainy-day fund

Laura Huberger, presenting the treasurer's report at the Greater Clark County Schools Board of Trustees meeting on March 11, said the district ended January with a combined education fund balance of about $13,000,071 and that she will protect a $12,000,000 rainy-day fund.

The report, Huberger said, reflects a statutory requirement to combine textbook rental revenue with the education fund; the treasurer's materials show roughly $4 million incorporated into the fund for textbook rental. "Money in the classroom, that mission will not change no matter what the influences that we're facing," Huberger said, summing the district's fiscal priorities.

Huberger gave month-end figures: an education-fund cash balance of about $9.3 million and an additional roughly $3.7 million reported separately in the treasurer's materials, for a combined total she reported as approximately $13,000,071. She said the operations fund ended January near $6.6 million, up from about $5.0 million a year earlier; the debt-service fund was about $5.3 million this January compared with $4.1 million last year.

Huberger cautioned that the operations fund could dip into negative territory before the district receives its tax distributions and said the rainy-day fund is being held to cover temporary cash needs, capital-bond reimbursements and other timing issues. She described the rainy-day balance as a protective measure used to pay for services until bond reimbursements arrive.

She also summarized potential changes in state distributions, saying the state is considering moving some textbook-rental or tuition-support distributions from an annual December payment to more frequent monthly payments tied to real-time student counts. Huberger told the board she separates textbook-rental amounts in the treasurer's report so trustees can see those funds apart from ongoing education operations.

A board member later urged district officials and the public to contact state lawmakers about two pending bills the speaker said would reduce local revenue. "Senate Bill 1 would make us lose a little over a half million dollars over a three-year period," the board member said. "House Bill 1402 . . . is upwards close to $67 million" in potential reductions statewide, the speaker said, adding that the district would be less affected than many others but that the proposals still risk significant cuts. The same speaker said a local reorganization of a fire district involving Jeffersonville and Utica Township could, as constructed, remove roughly $4 million from Greater Clark's operations budget.

Why it matters: The district's near-term budgeting and the 2026 budget process will be influenced by timing of state distributions and any statutory changes to property-tax or tuition-support formulas. Huberger told trustees she will continue to protect the rainy-day reserve and monitor revenues closely as lawmakers consider proposals affecting local government and school funding.

Board action: No vote was required on the report itself; trustees moved on to routine consent and action items after Huberger's presentation.

Looking ahead: Huberger said the district will monitor proposed changes and expects to return to the board with details as the state process evolves and as the district begins work on its 2026 budget.