Whether preparing financial documents for the Board of School Commissioners, helping schools interpret their budget information, or processing payroll for everyone in IPS, the Finance division offers excellent service with a positive attitude.
For the district, we help ensure the district budget is reconciled and provide information to the School Board and the Superintendent to help guide the overall stewardship and commitment to financial transparency. At a school level, we provide fast access to low-cost, easily ordered supplies through our stocked warehouse and are eager to assist with special orders when we don’t have what a school needs. We address library and textbook needs and process orders and payments for supplies and services. We have contracts in place for schools to purchase items like computers, copiers and furniture. We assist with extracurricular activity payments and travel reimbursement.
When schools or employees, Board members or IPS families have questions like “How are we doing financially?”, “How do I enter a requisition?” or “Can I buy this?”, we are the “one-stop shop” with answers for them. We’re the business office that keeps IPS in business.
Doing Business with IPS
Student Based Allocation
Student Based Allocation (SBA) is a funding formula that distributes resources to schools according to student needs and characteristics. School leaders then decide how to use those resources to best support their students. As of the 2017-18 school year, IPS uses SBA to develop budgets for all schools.
Goals of SBA:
- Equity: Equitably fund each student at each school based on his or her educational needs.
- Flexibility: Provide principals more flexibility to make budgetary and academic decisions that meet the needs of their individual school.
- Transparency: Clearly show exactly how much funding each school receives and why.
SBA is about spending limited dollars wisely
The shift to SBA allows IPS to more efficiently direct resources to where students need them most; but it does not replace the need to make tough decisions about the way money is spent. SBA allows IPS to focus on investing in programs that work, protect the progress made, and put the interests of students first in every decision.