The recent financial problems of Indianapolis Public Schools have been very well documented. Shrinking enrollment and funding along with high facility costs have taken their toll on the school district over the years.
Luckily, IPS has discovered a bit of good news in recent days. The deficit for the 2018-19 school year will be significantly less than expected. IPS had projected a $45 million deficit earlier this year. Thursday night, the board reviewed finances that revealed the deficit will only be around $20 million as opposed to the initial projection of $45 million.
Obviously, a deficit of any degree, let alone in the millions is a problem. However, a deficit of less than half of what is initially projected can only be interpreted as good news.
The difference between the two projections appears to be largely the result of a decrease in the projected cost of transportation. This seems to be mostly the result of new fuel-efficient buses and changes to the bus routes themselves.
If better gas mileage and bus routes in the transportation department lead to a difference of $25 million, it makes you wonder where else the school district can save money simply by increasing efficiency? That possibility certainly projects a little bit of optimism into the financial future of the state’s largest school district.
Read more here. (WFYI)