Governor's cuts have schools seeing red

Indiana slashes $297 million from K-12 schools. The cuts will be evenly applied to all school corporations in the state using the current funding formula, which means 3.5 perent less state money for districts. If the new revenue forecast proves accurate, the K-12 reductions, coupled with the previous cuts and use of most, if not all, of the state's rainy-day reserves, will keep Indiana in the black through the 18 months remaining in this budget cycle