Sec. 4. (a) Subject to review by the state budget committee under section 6 of this chapter, the DUAB shall determine the fiscal and qualitative indicators to be used for evaluating the financial condition of each school corporation. (b) The fiscal indicators under subsection (a) may include the following factors: Annual capital expenses compared to total capital assets Average daily membership (ADM) Common school fund loans Controlled project fund referendum revenue Debt to assessed value and debt to ADM ratios Education fund referendum revenue Federal revenues Fund cash balances by fund and overall Fund deficits and surpluses by fund and overall Fund deficits and surpluses combining the education and operations fund and debt Gross expenditures per ADM Interfund transfers Operating deficit or surplus Outstanding debt and annual debt service obligations Qualitative indicators as set forth in subsection (c) Salaries and benefits Seven (7) year trend lines using state fiscal years State tuition support Any other fiscal indicator determined by the DUAB. (c) The qualitative indicators under subsection (a) may include the following factors: Failure to make required contributions or transfers Issuance of judgment bonds Missed debt payments Missed payroll Past due vendor payments Any findings related to the financial condition of the school corporation by the Indiana education employment relations board Any other qualitative indicator determined by the DUAB.
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