(a) Subject to review by the state budget committee under section 6 of this chapter, the DUAB shall determine the fiscal and qualitative indicators to be used for evaluating the financial condition of each school corporation.(b) The fiscal indicators under subsection (a) may include the following factors:Annual capital expenses compared to total capital assetsAverage daily membership (ADM)Common school fund loansControlled project fund referendum revenueDebt to assessed value and debt to ADM ratiosEducation fund referendum revenueFederal revenuesFund cash balances by fund and overallFund deficits and surpluses by fund and overallFund deficits and surpluses combining the education and operations fund and debtGross expenditures per ADMInterfund transfersOperating deficit or surplusOutstanding debt and annual debt service obligationsQualitative indicators as set forth in subsection (c)Salaries and benefitsSeven (7) year trend lines using state fiscal yearsState tuition supportAny other fiscal indicator determined by the DUAB.(c) The qualitative indicators under subsection (a) may include the following factors:Failure to make required contributions or transfersIssuance of tAny other fiscal indicator determined by the DUAB.(c) The qualitative indicators under subsection (a) may include the following factors:Failure to make required contributions or transfersIssuance of judgment bondsMissed debt paymentsMissed payrollPast due vendor paymentsAny findings related to the financial condition of the school corporation by the Indiana education employment relations boardAny other qualitative indicator determined by the DUAB.As added by P.L.213-2018(ss), SEC.15. Amended by P.L.184-2023, SEC.14; P.L.236-2023, SEC.132.
Indiana Legal Code