"Deficit financing" for a budget year means actual expenditures exceeding the employer's current year actual education fund revenue and, for a school employer for which the voters have passed an operating referendum tax levy under IC 20-46-1 or a school safety referendum tax levy under IC 20-46-9 , the amount of revenue certified by the department of local government finance, excluding money distributed to a charter school under IC 20-46-1-21 or IC 20-46-9-22 . Except as provided in IC 20-29-6-3 (c), revenue does not include money estimated to be or actually transferred from the school corporation's operations fund to its education fund. Revenue does not include money allocated for supplemental payments in a resolution passed under IC 20-29-6-3 (d).

[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-7.5-1-2(q).]

As added by P.L.1-2005, SEC.13. Amended by P.L.48-2011, SEC.7; P.L.244-2017, SEC.55; P.L.213-2018(ss), SEC.24; P.L.213-2018(ss), SEC.25; P.L.211-2019, SEC.24; P.L.254-2019, SEC.1; P.L.272-2019, SEC.5; P.L.189-2023, SEC.26; P.L.75-2025, SEC.2; P.L.74-2026, SEC.107.