In a rare joint announcement, House Speaker Brian Bosma (R-Indianapolis) along with Senate President Pro Tempore David Long (R-Fort Wayne) and Governor Mitch Daniels announced their support for an additional $150 million investment in K-12 education emphasizing early learning opportunities for Hoosier students. The announcement came prior to the Revenue Forecast Technical Committee meeting. The updated revenue forecast predicts Indiana will receive more than what was projected under prior forecasts. "Everyone has been working together this session to find a fiscally-sound budget," said Rep. Rhonda Rhoads (R-Corydon) today. "Given the current economy, that goal was becoming quite a task. However, the recent revenue forecast has shown improvements in the state's income, which in turn will free up more resources for education." The increased revenues in addition to prudent reserve balances prove that the disciplined financial efforts by Republicans in the General Assembly and the governor are paying off for the State of Indiana. Education currently makes-up more than 50 percent of the state's budget, and a portion of K-12 education was cut in 2009 due to fiscal revenue being severely low. While Indiana carefully begins to increase funding for education, many other states across the nation have had to continue to make dramatic cuts to education funding. In Ohio, South Dakota, Florida and Pennsylvania, funding for K-12 education was cut by 10 percent. Even though $150 million dollar increase is not fully restoring the cuts that were made, due to the unknown financial climate the Speaker stated there is still a need to be prudent. Education is the only area in the state budget that will now show an increase in funding. A quarter of the $150 million will be used to complete the extension of full-day kindergarten to every school district in the state. A smaller fund will go toward a "teacher excellence" fund, which will reward teachers through pay-based on performance, not seniority. "As a retired teacher, I have seen the benefits full-day kindergarten can provide to students at such an early age. Being in school the entire day versus only half the day can have a profound effect on a student's track for long-term academic success; not to forget, a sound investment for our economy and workforce," said Rep. Rhoads. "Our Caucus' core value continues to be fiscal integrity. Because of that primary goal we are able to forward our commitment to K-12 education and put an emphasis on early education," said Speaker Bosma. |
