Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Choice Funding topic
No spam. Unsubscribe anytime.
Marion CFO: about $77 million will pass through for scholarships, reducing district budget capacity
Summary
CFO Rios Welsh told the board roughly $77 million is being deducted from district revenues to accommodate students on Family Empowerment Scholarships, a state policy that the district must record as pass-through expense.
During the July 28 presentation, Chief Financial Officer Rios Welsh said state policy requires the district to record Family Empowerment Scholarship funds as pass-throughs for students who participate in choice programs. "We have to deduct almost 8,300 students that are receiving family empowerment scholarships...which effectively means that we are taking about $77,000,000 off of the top of our budget," Welsh said.
Welsh said the district recognizes the revenue and the corresponding expense on its books, and that the policy reduces dollars otherwise available for district-operated schools. He described the scholarship program as a state policy outside the district’s control and said the district will provide more detail during the scheduled August work sessions.
