Per-pupil spending in Indiana, and growth in same, trailed the national averages in 2010-11. But while spending in the booming Hamilton Southeastern Schools topped out at $7,374, the two highest spending school districts in the state both had rapidly shrinking K-12 enrollment.
The Indianapolis Public Schools lost 13.3 percent of its students between 2006 and 2011 and was in danger of being overtaken by Fort Wayne as the largest school district in Indiana. Nevertheless, Indianapolis spent $13,908 per pupil, over $4,500 more per pupil than the state average.
Madison has long spent more per student than most districts. The most recent 2012-2013 budget, via a kind Donna Williams and Matthew DeFour email is $392,789,303 or $14,496.74 per student (27,095 students, including pre-k).