Sec. 2. Subject to section 1 of this chapter, a school corporation‘s early graduation award for a state fiscal year is the amount determined using the following formula:

STEP ONE: Determine the number of students who met the following conditions during the student’s expected graduation year (as defined in IC 20-26-13-4) for the school year ending in the previous state fiscal year:

Terms Used In Indiana Code 20-43-10.5-2

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(A) The student was enrolled in the school corporation on the fall count day of ADM established under IC 20-43-4-3.

(B) The student successfully completed Indiana high school graduation requirements before the day in February fixed by the state board for the spring count of students under IC 20-43-4-3.

(C) The student was not enrolled in the school corporation on the day in February fixed by the state board for the spring count of students under IC 20-43-4-3.

STEP TWO: Multiply the STEP ONE result by one thousand five hundred dollars ($1,500).

As added by P.L.201-2023, SEC.212.

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