The Culver School Board has finalized preparations for the new school funding structure. Starting January 1, each school corporation’s General Fund will be replaced by an Education Fund, while the Capital Projects, Transportation, and Bus Replacement Funds will be combined into an Operations Fund.
Superintendent Karen Shuman says the school board passed a series of resolutions Monday, establishing the new funds and allowing the money to be transferred over to them on January 1. However, there are certain expenses that are currently budgeted in the General Fund that will have to be paid out of the Operations Fund in the future. To anticipate those costs, the school board also agreed to move just over $145,000 from the new Education Fund into the new Operations Fund, once they’re both in place.
Going forward, the school corporation plans to make similar transfers on a quarterly basis. Shuman says there’s currently a bit of a learning curve, with 2019 being the first year of the new funding model.