Finances are strong

Jay School Corporation finances continue a pattern of growth, setting new highs for year-end balances for the third consecutive year. 

Leaders feel confident in the ability to weather potential challenges.

The Jay School Corporation Board of Finance met Monday following a brief meeting of Jay School Board, learning that the corporation’s education and operation funds were both up slightly at the end of 2025.

“It’s a very good report,” said school board president Ron Laux. “It took all of the employees and all of the people involved to get us where we are. I can’t say enough good about it.”

Business manager Shannon Current told the board of finance, made up of school board members Donna Geesaman, Marcie Vormohr, Chip Phillips, Chad Towell, Aaron Clark, Jon Eads and Laux, that the education fund balance came in at $8.32 million. The operation fund closed 2025 with a balance of $7.62 million.

A slight deficit had been projected through much of 2025 for the education fund, but it finished with an increase from $8.2 million at the close of 2024. The operation fund was up significantly from $6.4 million.

Current noted that a portion of that increase is because about $600,000 in projects that were planned to be paid for last year will instead be paid for in 2026.

The corporation’s two major funds — the education fund goes directly to the classroom while the operation fund covers “overhead” such as administration, buses, utilities, technology equipment and capital projects — continued a long-term pattern of growth. The year-end balance for the education fund in 2017 came in at just under $1.5 million while the operation fund balance has climbed from less than $100,000 in 2015.

In both cases, the 2025 year-end balances were at their highest mark in more than 30 years. Both have now set records for three consecutive years.

The rainy day fund came in at $1.82 million. That is unchanged from the last two years, though Current proposed a $650,000 transfer from the operation fund to the rainy day fund that would move it to $2.47 million.

The food service fund cash balance came in at $960,597, up from $823,153 at the close of 2024.

Current pointed out the significant increases in cash balance since partnering with Chartwells for food service. It had hovered around zero for several years and was $113,867 at the close of 2019. It has been above $500,000 ever since, and funds were used to renovate the commons area to give it more of a feel of a food court. She pointed out that the corporation is required to keep three months of operating expenses, about $660,800, on hand and that food service funds are otherwise used for improvements on the kitchen and cafeteria areas.

The report also noted that enrollment was up to 2,905 from 2,817 the previous year. The employee count was 418, which has been relatively steady over the last five years.

Current also shared an investment report that showed the school corporation earned $869,624.87 in interest in 2025. That was down by about $84,000 from 2024 but still the second-highest over the last 15 years. The school corporation has made $2.6 million in interest over the last three years.

Jay Schools superintendent Jeremy Gulley echoed Laux’s thoughts about the status of the corporation’s finances.

“The fiscal situation of Jay School Corporation is strong,” he said. “It’s secure. And prepared to meet the uncertainties and opportunities of the future.”

Local government officials have expressed concern previously about the potential effects of 2025 Indiana Senate Enrolled Act 1, which makes a variety of changes to tax policy. Those changes are expected to result in the school corporation receiving less funding than under the previous system. Though uncertainty remains and lawmakers have indicated plans to make adjustments to the law during this year’s legislative session, a presentation in August from financial consulting firm Baker Tilly indicated that tax law changes will cost the school corporation more than $500,000 annually.

In other business, the board of finance:

•Elected Laux as president and Vormohr as vice president.

•Appointed Current and Taylor as depositories.

In other business, the board:

•Elected Laux as president, Geesaman as vice president and Vormohr as secretary.

•Approved the following: appointing Josh Atkinson of law firm Coldren, Frantz & Sprunger as school corporation attorney and Amy Matthews of Church, Church Hittle & Antrim as outside counsel, as needed; the appointment of Shannon Current as treasurer and Irene Taylor as deputy treasurer, and both as representatives in small claims court.; authorized Trent Paxson, Current and Taylor as users of the school corporation’s safe-deposit box; the hiring of driver education instructors Nichole Myers, Tim Millspaugh and Christine Addington; a leave of absence for East Jay Elementary School teacher Kayla Nietfeld; and appointing all board members to the school corporation’s board of finance.

•Received conflict of interest statements to be updated and signed.

•Accepted the resignation of West Jay Elementary School sixth grade teacher Brooke Shoemaker.

•Heard Gulley appoint Geesaman, Phillips and Eads to the insurance committee.

•Heard Laux appoint himself, Geesaman and Towell to the negotiations committee, and Vormohr as the legislative liaison.