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May 14, 2009. The annual budget presents a complete financial plan and includes the following: Important features and major changes from the preceding.

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Presentation on theme: "May 14, 2009. The annual budget presents a complete financial plan and includes the following: Important features and major changes from the preceding."— Presentation transcript:

1 May 14, 2009

2 The annual budget presents a complete financial plan and includes the following: Important features and major changes from the preceding year Projected revenues and expenditures from all sources with a comparative statement for the two preceding years, itemized by year, fund, source and activity Interest, amortization and redemption amounts due on debt funds A general budget summary RSMo Annual Budget Compliance Requirements In no event shall the total proposed expenditures from any fund exceed the estimated revenues to be received plus any unencumbered balance or less any deficit estimated for the beginning of the budget year…. 2/14/20142St. Louis Public Schools

3 The Fiscal Year 2010 budget includes several base assumptions: 1. No deficit spending 2. School closing savings of $12.2M 1 3. Magnet schools staffed better than the MSIP desired ratios (currently underfunded) 4. Student enrollment projected at 24,954 2 vs. 25,906 1,116 2 vs. 1,432 23,838 2 vs. 24, Continuation of school(s) for alternative education not included 2 – Source, Planning Dept., April 17, 2009 Fiscal Year Executive Summary 2/14/20143St. Louis Public Schools

4 The Fiscal Year 2010 budget is marked with several challenges and key issues: 1. Projected revenue = $289.0M 1 Revenue down $17.0M Current/Delinquent Taxes (2.0M) Prop C (1.0M) VICC (1.0M) Basic Formula (11M) ERATE (1.5M) Medicaid (.5M) 1 Includes potential $3.0M DESE funding increase Fiscal Year Executive Summary 2/14/20144St. Louis Public Schools

5 The Fiscal Year 2010 budget is marked with several challenges and key issues: 2. Budget gap of $53.0M 3. FY09-10 projected enrollment to decrease by compared to April 16, 2009 enrollment 4. Charter enrollment projected to increase by 1,000 (10%) 1 - Decrease based on enrollment as of April 16, 2009 Fiscal Year Executive Summary 2/14/20145St. Louis Public Schools

6 2/14/2014St. Louis Public Schools6 FY08-09 Current FY09-10 Proposed CHANGE% Revenues$306$289($17)(5.5) Expenditures$342$289($53)(15.5) Deficit Spend($36)0

7 2/14/2014St. Louis Public Schools7

8 2/14/2014St. Louis Public Schools8 Three Year Revenue Summary

9 Fiscal Year Budget Gap Recommendations ($M) 2/14/20149St. Louis Public Schools

10 Revenue Estimates 1 Enrollment: SLPS & Charter Schools VICC Local Effort and Special Education Legal Settlements Transportation Energy Costs Stimulus Plan 1 - Based on current information 2/14/2014St. Louis Public Schools10

11 Title I – FY10 Regular Allocation 20.1M Title I – FY10 Stimulus Allocation 14.0M Title I Total$34.1M GOB Leveraged$ 6.1M Special Education – FY10 Regular Allocation 7.7M Special Education – FY10 Stimulus Allocation 8.5M Special Education Total$16.2M GOB Leveraged $ 8.5M 2/14/2014St. Louis Public Schools11

12 Increase Student Attendance Tax Rate Increase Stimulus Construction Bonds 2/14/2014St. Louis Public Schools12

13 Other Cost Saving Options 1. Salary Reductions 2. Increase Employee Retirement Contribution 3. Reduce Health Care Costs 4. Reduce Number of Workdays 5. One-time Revenue Desegregation Fund Flexibility No Tax Increase Bond Additional Building Sales ($1M assumed) Fiscal Year /14/201413St. Louis Public Schools


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