Unraveling complex school funding formula

Hamilton County’s six public school systems will share $357 million next year in state collected tax funds, an increase of $13 million over 2017 disbursements. The money covers most, but not all, of the education costs for the county’s 58,122 students. Local property taxes are used for capital improvements, debt retirement, transportation and to raise supplemental revenue through referendum.

Disbursements to school corporations are based largely, but not entirely, on school population. Socioeconomic factors are also involved in the complex school funding formula.
Figures on school funding were released by State Sen. Luke Kenley’s office and must be considered best estimates from available data. Kenley represents four of the county’s six school districts.

Hamilton Southeastern, the county’s largest school district with 21,150 students, will receive $126.9 million next year compared with $122.6 million this year. That amounts to $5,937 per student in 2018 vs $5,805 this year.

Sheridan Community Schools, the county’s smallest district with about 1,032 students, will get $6.7 million next year compared with $6.6 million this year, but that amounts to $6,577 per student in 2018 vs $6,462 this year which is the highest per student disbursement among county schools.

Noblesville Schools with 10,246 students, is in line for $64.1 million in 2018 up from $63 million this year. That will amount to $6,164 per student in 2018 compared with $6,156 this year.

Carmel Clay Schools with 15,900 students, can expect $95.6 million next year vs $92.3 million this year. The per student benefit amounts to $5,793 this year and $5,982 next year.

The rapidly growing Westfield Washington district, now with 7,529 youngsters, is set to receive $48.3 million next year whereas this year it gets $45.1 million. The per student allowance jumps from $5,993 this year to $6,150 next.

Hamilton Heights where growth has slowed will see an increase in state funding from $14 million this year to $14.5 million in 2018. That amounts to $6,187 per student this year and $6,303 next year. The estimated payments to schools in 2019 were also included in the education bill adopted by the legislature. Those amounts average another one to two percent over 2018 planned payments.