Mayor Karen Freeman-Wilson says the city can't take on the $350,000 in debt that would be required to do the show this year.
Student borrowing is down 11 percent across Indiana University’s seven campuses amounting to more than $30 million.
Indiana ended the fiscal year with a surplus of $483 million, the governor announced Thursday.
The budget contains increased K-12 education funding, permanent infrastructure funding, and pays down some of the state’s debt.
The average student in Indiana graduates with $27,500 of college debt, according to a report from the Project on Student Debt.
College debt is on the rise. One 9th District Congressional Candidates says politicians and educators need to work together to keep costs low.
A report says the inappropriate payments took place over the course of three years.
Former Mayor Henderson, however, argues his administration did not incorrectly report debt or fail to pay sewage usage fees.
The average student at IU graduates with $16,000 of debt, according to an IU report.
The deal is opposed by both Democratic and Republican representatives from Indiana. 3 Hoosier congressmen voted for the bill.