The Ball State University Board of Trustees has approved the university taking over the financially troubled Muncie Community Schools days after Gov. Eric Holcomb signed legislation allowing the move.
The board Wednesday unanimously approved a resolution accepting responsibility for governing the district.
Ball State President Geoffrey Mearns told trustees that $2.9 million in aid for the schools already has been pledged by two local foundations, three banks and two families.
Mearns said the schools’ current emergency manager will assist the new university-appointed school board during a 60-day transition period beginning July 1. He also said a finance plan from the emergency manager anticipates pay and benefits for all returning employees going unchanged from current levels.
In a special session Monday, the General Assembly approved a bill allowing the takeover.