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Board hears state budget changes that could limit districts’ carryover balances; New Albany expects to move funds to capital
Summary
Board members and administrators discussed the recently passed state biennial budget, limits on carryover balances (40% cap discussed), potential impacts on levies and local budgeting, and the district’s plan to transfer $13.5 million from the general fund to capital and other funds to remain compliant.
Board members and district administrators spent the meeting’s longest block outlining how the recently completed state budget could change school-district budgeting statewide and for New Albany-Plain Local specifically.
Board liaison remarks and Superintendent Michael Sawyers explained that the biennial budget (referred to in the meeting as the budget bill) is before the governor and contains a provision limiting how much a district may carry forward into the next year (the board discussed a 40% cap). “The carryover balance basically said that for school districts that have money left over in their budget, that you basically can't carry over from year to year more than 40% of…
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