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Town of Speedway board reorganizes, adopts 2026 expenditure goal and moves $1.3 million to rainy day fund
Summary
At its Jan. 13 meeting the Town of Speedway School Board unanimously approved officer nominations, adopted a 2026 expenditure goal tied to Indiana Code 20-42.5-3-4, and passed a resolution to transfer $1,300,000 from the referendum fund into the district rainy day fund; several routine budget and personnel items were also approved.
The Town of Speedway School Board unanimously approved a slate of organizational and budget actions at its meeting on Jan. 13, adopting officer nominations, a district expenditure goal for 2026 and a $1.3 million transfer into the district rainy day fund.
Board business opened with the required annual reorganization. A board member moved to name Adam Gonzalez president, Luke Bickel vice president, Tom Smith secretary, Nancy Johnson corporate treasurer and Luke Bickel as ISBA legislative liaison; Speaker 3 nominated Laura De Gea as ISBA policy liaison. The board approved the nominations, 5–0.
The board approved the minutes from its Dec. 9, 2025 meeting and then adopted the district’s recommended expenditure goal for 2026, a routine action tied to Indiana Code 20-42.5-3-4 that directs the district’s target percentages for spending on student instruction. District staff told the board Speedway continues to exceed the target percentages in its instructional spending.
On budget housekeeping, the board approved internal adjustments to the 2025 budget appropriations (transfers between subaccounts used to close the books) and adopted a resolution transferring $1,300,000 from the referendum fund to the rainy day fund. A board member praised central office staff and said: “Nancy Johnson does a great job,” noting the transfers and reserves reflect careful fiscal work by district staff.
The board also acknowledged $276,393.42 in grants received and approved the January personnel report, which included two coaching resignations, one disability leave request, several coaching and long-term substitute hires and volunteer coach recommendations. All recorded motions and votes at the meeting passed by unanimous voice or show-of-hands votes, 5–0.
Votes at a glance - Board reorganization (nominations for president, vice president, secretary, treasurer and ISBA liaisons): Passed, 5–0. - Approval of minutes (Dec. 9, 2025): Passed, 5–0. - Adopt 2026 expenditure goal (per Indiana Code 20-42.5-3-4): Passed, 5–0. - Approve adjustments to 2025 budget appropriations (internal transfers to close books): Passed, 5–0. - Resolution to transfer $1,300,000 to rainy day fund (from referendum fund): Passed, 5–0. - Approve 2026–27 Speedway High School course description guide (see separate coverage): Passed, 5–0. - Approve personnel report (January): Passed, 5–0.
What’s next: The board adjourned to an approval-of-claims session; routine monitoring and updates related to the new state accountability guidance and any required curriculum adjustments were noted as forthcoming.
