Transcript Budget Planning FY11

Budget Planning FY11
Joint Meeting
School Board and Board of Supervisors
January 18, 2010
7:30 pm
Assumptions

State revenue projections will be based upon
the 2010 – 2012 biennial budget as introduced
by Governor Kaine on Friday, December 18,
2009.(HB/SB 30).

The student average daily membership (ADM)
is projected to be 1800.
Proposed Funding Changes

Deferral of the new composite indices for the 2010 – 2012
biennium until fiscal year 2012

Increases in the employer rates for fringe benefit contributions paid
to the Virginia Retirement System (VRS)

Adjustment/increase in the funded health care premium

Transfer of FY11 State Fiscal Stabilization Fund from localities to
state to be used as a portion of Basic Aid in fiscal year FY11
FY 11 Projected State Revenue
$2,019,646.00
Categorical Aid
$1,745,106.00
Sales Tax
$4,311,543.00
Basic Aid
FY 11 Local Required Revenue
$1,771,873.00
Categorical Aid
$4,106,151.00
Basic Aid
Standards of Quality (SOQ)
Funding is based on minimum requirements.
For example:
We currently maintain a kindergarten class size of
less than 20 students per class.
Minimum state requirements allow a 24:1 average
with no class being larger than 29:1. A full-time
teacher’s aide is required in each class that exceeds
24 students.
Budgeted Revenue Source History
Budgets FY02 – FY10
Excluding Federal Stimulus Funds
$9,000,000
$8,000,000
$7,000,000
Local
Appropriation
Funding Amount
$6,000,000
State
Appropriation
$5,000,000
Federal
Appropriation
$4,000,000
State Sales
Tax
$3,000,000
$2,000,000
$1,000,000
$0
2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010
Projected Change in Composite
Index FY12
Current composite index: .4878
 Revised composite index: .5205


FY 2011
FY2012
State Share
$8,076,295
$7,693,639
Local Share
$5,878,024
$6,238,346
Figures based on VDOE Projections
Declining Fiscal Resources

The anticipated decline in state funding is
approximately $1,050,000 in FY11.
Local Impact

Greatest impact in reductions:
◦
◦
◦
◦
◦
◦
◦
Basic Aid
Sales Tax
Textbooks
Special Ed (SOQ)
Technology
School Construction
Federal Stimulus
($249,554)
(86,980)
(39,617)
(36,878)
(154,000)
(35,599)
(550,805)
Local Impact

Greatest impact in increases:
◦ Local Match for Textbooks
◦ Local Match for Facilities
◦ Increased VRS Rates &
Funded Health Care Premium
$ 66,336
$ 45,702
$219,619
 Total Benefit Increase 1.88% required by state
 Estimate based on FY10 salaries and health insurance
participation rates
Total Local Impact

In order to maintain our current level of
programs and services and to meet the
requirements for local matches and pay
the required increases in benefits, the
school division would need approximately
$ 1,210,156 to balance the budget.
Major Proposed Reductions
Employee costs: ($400,000)
 Technology: ($126,000)
 Materials, supplies, equipment, & services:
($100,000)
 Facilities: ($147,000)

Unaddressed Needs
Bus Replacement
 Employee Salaries and Benefits
 Summer School
 New Technologies
 Renovations and Facility Improvements

Recap
Reduction of 12 employee positions,
reductions in extracurricular trips, cuts in
technology, materials, supplies, and
facilities.
 Required revenue:

◦ State
◦ Federal
◦ Local
$7,937,578
$ 849,585
$8,495,218*
 * Includes debt service
 * Actual operating -- $7,763,851
($567,917)
$15,264
$269,375