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Monroe‑Gregg board approves $170,000 savings plan; defers final decision on PERF withdrawal
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Summary
Administrators presented a budget mitigation plan aimed at roughly $170,000 in savings; the board approved the plan but directed staff to study the implications of freezing or withdrawing from PERF, asking for actuarial detail before any final decision.
The Monroe‑Gregg School District board voted to approve a financial mitigation plan intended to produce about $170,000 in annual savings across education and operations funds, but it directed staff to research the legal and actuarial implications of changing PERF participation before taking final action.
Administration presented a list of proposed savings measures, stressing that the plan was crafted to avoid layoffs where possible and that some items (including the PERF option) require further study by actuaries. The board discussed options to freeze PERF participation for future hires versus fully withdrawing, with speakers noting that an actuarial study is needed to determine any remainder liabilities.
Key figures and proposals: staff said the plan could save roughly $86,000 annually from education‑fund changes and about $93,000 from operations items, totaling roughly $179,000 (rounded in the discussion to about $170,000). Administration also noted that a PERF withdrawal or freeze could trigger liability and that savings are not guaranteed without actuarial analysis.
Public commenters and board members emphasized preserving a $14,000 scholarship fund created from a cell‑tower revenue stream. One resident noted the scholarship program benefits at least seven students and urged that it be retained or funded through donations or a local education foundation.
On the PERF question, district employee Annette Elliott cited a provision of Indiana code and asked the board to consider freezing participation instead of withdrawing; administration responded that they would need an actuarial study to know whether the district would still owe funds if it left PERF.
Board action and next steps: The board approved the plan while explicitly excluding any immediate removal of PERF until staff provides more information on the freeze/withdrawal options and the potential liabilities. The board recorded the action as passing on a 4‑1 vote; the separate agenda item to authorize withdrawal of PERF was later tabled by unanimous voice vote.
