Correction: Distressed Schools-Gary Manager story

GARY, Ind. (AP) - In a story Oct. 15 about Indiana's tentative state contract with a company to oversee Gary's public school system, The Associated Press erroneously reported that the contract is with Peggy Hinckley. It is with Gary Schools Recovery LLC, which appointed Hinckley to be the emergency manager overseeing the effort. The AP also erroneously reported the amount in incentive pay the company could receive by delivering a viable structural deficit reduction plan by Jan. 31, 2018, and meeting other goals. It could get up to $650,000, not $550,000.

A corrected version of the story is below:

Tentative contract could bring Gary schools team $3.9M

A tentative contract could allow the emergency management team for the financially troubled Gary Community School Corp. to earn up to $3.9 million during the current academic year

GARY, Ind. (AP) - A tentative contract could allow the emergency management team for the financially troubled Gary Community School Corp. to earn up to $3.9 million during the current academic year.

The contract with the Gary Schools Recovery LLC team headed by emergency manager Peggy Hinckley still must be approved by the State Budget Agency, the Department of Administration and Indiana's attorney general.

But The (Northwest Indiana) Times reports the contract sets a $3.25 million base payment for the 2017-18 school year.

Another $650,000 in incentive pay is available to the Gary Schools Recovery team if it delivers a viable structural deficit reduction plan by Jan. 31, 2018, and meets other goals.

Hinckley was chosen last summer to lead the team's effort to balance the school district's budget, reduce more than $100 million in debt and improve the schools to attract more students.

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This story has been corrected to ... APNewsNow.