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Meeting Date:
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4/25/2019 - 6:30 PM
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Category:
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SCHOOL DIVISION WORK SESSION
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Type:
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Action
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Subject:
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Adopt FY 2019/20 School Operating Fund and Special Revenue Funds Budget
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ACPS Division Objective :
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Objective 5 We will optimize resources.
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Enclosure:
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File Attachment:
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Summary:
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On April 16, the Board of Supervisors adopted a final budget and tax rate. This budget reflects continued growth in local revenues. State revenues are also projected to increase, but a final amount is yet to be determined. Federal revenue estimates remain the same.
Staff recommends the Board adopt a budget based upon their February 5 request with adjustments (included in Attachments). The adjustments include a $238,689 projected reduction in state revenues and increase in local revenues in other areas.
On the expenditure side, the proposed $1,000,000 in compensation strategies is replaced by an additional 0.7% increase in teacher salaries, for a total of a 3.0% teacher salary increase. Staff recommends an additional $159,388 use of fund balance to close a gap of $159,388 to balance the budget.
Special Revenue Funds have changed slightly since the February 5 request due to the teacher salary increase adjustments. All adjustments in the Special Revenue Funds are revenue neutral.
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Funding:
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Funding impacts are included in Attachments.
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Recommendation:
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Adopt the FY 2019/20 School Board Operating Budget and Special Revenue Fund Budget.
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Approvals:
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Recommended By:
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Signed By:
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Maya Kumazawa - Director of Planning and Budget
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Signed By:
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Rosalyn Schmitt - Chief Operating Officer
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Signed By:
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Dr. Matthew Haas - Superintendent
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