Indiana Code Title 20. Education § 20-25-3-13

Sec. 13. (a) Money may not be drawn from the treasury of the board except for appropriations made:

(b) An appropriation may not be made for a period extending beyond December 31 of the current calendar year.

(c) Except as otherwise provided in this article, at the end of a fiscal year, all unexpended balances of all appropriations remain in the fund from which the appropriation was made and do not revert to any other fund.

(d) Education fund and operations fund money that has been obligated but not paid at the end of a fiscal year may be paid without a new appropriation.