Moody’s Investor Service released a financial grade for Indianapolis Public School system. Continue reading →
Chalkbeat Indiana did an in depth write up pertaining to school funding in Indiana. I’m posting some graphs the author laid out in showing grade scores and performance between IPS and Carmel school systems. IPS is being shown as one of the poorest (families avg $20k/yr) while Carmel is one of the wealthiest (families avg $60k/yr). What makes this fascniating is the school systems are right down the road from each other.
The graphs are self explanatory. The second one shows funding to each school with IPS getting almost $3,000 more per student then Carmel students. The author links that since Carmel residents make more money and have more access to “private tutors” their scores are higher. While that maybe one factor, what this write up does not take into account is the role of having intact families. Two thirds of IPS children live in single parent homes. Carmel has only about 10% single parent homes. An amazing stat that needs to be brought into perspective.
Indiana public schools are swinging into full gear and with that, their financial books are starting to get published in the back pages of your local newspaper. Most of their financial information from a broad spectrum is posted on the state website and can be found in the Department of Education “School Financial Reports” portal.
The debt held by public education has swelled in recent years in municipalities. For numerous years, Indiana school boards were able to pass tax increases and spending agendas without much say from the public. Since 2008 school boards must get these items on a ballot for voters to decide.
Here are some listings of a handful of school corporations around the state and how much “total principal” they owe. Time period covered is July 1, 2012 to June 30, 2013:
Brownsburg $188 Million
Avon $236 Million
Indianapolis Public Schools $642 Million
South Madison Schools $69 Million
Greenwood Community $20 Million
Plainfield Community $127 Million
Greenfield-Central Com Schools $96 Million
Carmel Clay Schools $153 Million
Zionsville Community Schools $200 Million
Fort Wayne Community Schools $133 Million
Rochester Community $13 Million
Seymour Community Schools $22 Million
Vincennes Community $31 Million
Lake Station Community Schools $15 Million
Tell City-Troy Twp School Corp $24 Million
Fremont Community Schools $5 Million
Vigo County School $58 Million