District overview
New Albany-Floyd County Consolidated School Corporation
Funding structure, how it compares to peers, and where major projects stand.
How New Albany-Floyd County schools are paid for and who decides
NAFCS runs the public schools in New Albany and Floyd County, Indiana, including New Albany and Floyd Central high schools, four middle schools, elementary schools and the Prosser Career Education Center. Indiana pays for teaching through the state funding formula, which follows enrollment, while property taxes pay for buildings, buses and debt. A new state law (SEA 1) and property-tax caps are shrinking the local Operations Fund, so more building work is paid for with bonds and leases. A seven-member elected Board of School Trustees sets the budget and hires the superintendent; Dr. Travis Madison left in September 2026, and Dr. Mark Eastridge is interim superintendent.
Proposed 2027 budget
About $165.7 million across all funds, including $92.2 million for education and $39.6 million for operations.
Vision 2030 bonds
Up to $395 million in bonds over several series; the first $75 million series was approved in February 2026.
Falling tax base
Assessed value is expected to drop for the first time in years, and tax-cap losses are projected above $5 million in 2027.
Enrollment slipping
Student counts have slowly declined since 2019-20 and are projected down 1.5% for 2027.
District officials describe NAFCS as in solid financial standing, and the bond plan was presented as not raising the debt tax levy because older debt is being paid off.
Where the district stands
Major projects
Vision 2030 facilities plan
in progressA multi-year building plan touching every campus. Approved so far: middle school renovations at Highland Hills and Scribner, gym renovations at both high schools, a $6.2 million Floyd Central softball field, a Fairmont Elementary expansion and HVAC work. Rebuilding or replacing Georgetown and Grant Line elementaries, and student activity centers at both high schools, are still undecided.
- First bond hearing
- Preliminary bond resolutions adopted
- First $75 million series approved
- Middle school lease financing approved
- Five-year project update; costs requested
Funding
General obligation and lease-rental bonds
Prosser Career Education Center expansion
constructionA new 15,820-square-foot construction trades building is under construction from September 2026 to May 2027, and a health careers renovation is to follow in 2027. The five phases add 320 seats.
- $721,180 building contract
- $2.5 million in bid packages approved
- $4.5 million construction contract
- Health careers renovation expected complete
Funding
District capital funds and donations
2027 budget
adoptionThe proposed 2027 budget was advertised in September; staff warned the tax rate is likely to rise while revenue actually collected falls. Adoption was set for October 19, 2026.
- Budget hearings
- Budget adoption (agenda)
Funding
State formula, property taxes and referendum levy
Recent news
Board of School Trustees agendas, minutes and supporting documents posted in the district's public Google Drive folders (October 27, 2025 through the October 26, 2026 agenda), read in full. Board meeting video streams were not collected.
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