Editor's Note: This story is part of The Partnership Project, a series of content written in an effort by The Daily News to follow the formal collaboration of Ball State University and Muncie Community Schools. Read more in this series here.
Below are some charts showing the financial stance of Muncie Community Schools (MCS) in 2022, which were provided by Brad DeRome, MCS chief financial officer.
This graph shows the significant increase in MCS’ actual cash balance (all funds) as of December 2021. In 2016, MCS ran a budget deficit, but corrected this by refinancing and selling old properties. MCS was below the $5-million budget line in 2017. At the end of February 2022, MCS had more than $35 million to work with, some of which will be used to pay back a loan the district received from the state of Indiana in 2019. Brad DeRome, Graphic Provided
This graph shows the MCS “Rainy Day Balance,” which is the money set aside for emergency purposes in case of economic turndown. MCS set aside more than $12 million last year for this specific fund, which has seen significant growth since 2018. Brad DeRome, Graphic Provided
This graph shows MCS’ net cash amount beginning December 2018 through February 2022. Net cash is the funds available after liabilities. Because of MCS’ increased financial performance, the district’s net cash amount has increased on average in recent years. Brad DeRome, Graphic Provided
This graph shows the amount of money MCS has with both state loans and money received. Some of the “Rainy Day” portion will be used to pay back these loans between the years of 2020-28. MCS received these loans in 2019. Brad DeRome, Graphic Provided
MCS' total enrollment is pictured above. The first year since 2014-15 that enrollment increased across the district was 2020-21. Enrollment again increased to 4,927 students for the 2021-22 school year. Andy Klotz, Data Provided; Grace McCormick, DN Illustration
“Prior to the [Ball State] partnership in 2018, the district was losing around 500 students or so each year,” Klotz said via email. “That then subsided to around 100 students for a couple years before actually seeing a gain of 100+ students last year – the first enrollment increase at MCS in 15 years.”
Contact Jamie Strouts with comments at jdstrouts@bsu.edu.
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