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Board acknowledges Indiana Department of Education notice on funding floor; district met 60% teacher‑salary rule in FY24
Summary
The district received and acknowledged a Jan. 3 notice that its fiscal 2024 teacher‑salary funding floor fell below the prior-year floor. Administration explained causes and said the district’s FY24 teacher salary+benefits percentage was 62% (above the 60% threshold). The board acknowledged the notice and will post the required statement online.
The board discussed a notice from the Indiana Department of Education indicating that the district’s fiscal 2024 spending subject to the state’s “funding floor” fell below the prior year’s floor. Kendra Franks reported the FY23 funding floor had been set at $7,035,700; for FY24 the district’s comparable figure was $6,918,249.
Franks and staff explained multiple legitimate reasons the district could fall below the prior year’s floor even while state tuition support increased: changes in benefit selections during open enrollment, hiring newer teachers at lower salary steps when more-experienced staff retire, and other personnel changes. She emphasized there is no automatic monetary penalty; state guidance requires the board to acknowledge the notice publicly and post the acknowledgement on the district website. The district also reported that for FY24 it met the Indiana rule that at least 60% of Education Fund expenditures be spent on teacher compensation and benefits (FY24 reported at 62%).
The board formally acknowledged the department’s notice, and administration said the required posting will be made to the district website.
