July 10, 2023 at 7:30 AM - Budget Committee Meeting

Description:  The purpose of this agenda item is to discuss the next steps in the 2023-2024 budget process. Attached please find the budget timeline. Please note that the Third Draft of the Budget will be presented at the regular July Board Meeting. In addition, Allie Dye will present during the Budget Hearing portion of the regular July Board Meeting. 

Description:  The purpose of this agenda item is to review the third draft of the budget for the 23-24 school year. I have attached the third draft of the budget for your review. Please note that the third draft of the budget is based on the following:
1. The $0/student increase in the per pupil categorical aid, with a $325/student increase in the revenue limit formula
2. An increase in the percentage of State Special Education Categorical Aid to 33.3% (from 30%)
3. The personnel cost line includes an inflationary salary increase of 8%, implementation of the teacher and classified staff compensation systems, a 0% increase in dental insurance rates, and a 3% increase for health insurance rates.
4. The capital maintenance projects are funded from Fund 49
5. The second draft includes an increase of 10 FTE, as outlined on page 13 of the document.
6. The debt service fund includes the new debt issued for the $175 million referendum.
7. All of the remaining budget requests have been placed on hold at this time.

The changes for the third draft of the budget include:
1. New information on the 2023-25 state budget
2. Grant allocations for fund 27
3. Updates to the Community Services budget (Fund 80)
4. Updates to the New Teacher program budget (Fund 99)
5. Update to property tax levy in fund 39 and fund 10. The tax levy in fund 10 was increased to reflect the state budget and the tax levy in fund 39 was then decreased to keep a consistent property tax amount. 
6. Increased open enrollment revenues to reflect additional students and an increase in the per student transfer
7. Increased fund 10 interest revenues to reflect the continued increase in interest earnings
8. Increased wellness clinic budget to reflect a staffing change to an RN position instead of a medical assistant and increased costs for the contract renewal

 

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