Dr. Yvonne W. Brandon, Superintendent Superintendent P. Andy Hawkins, COO Finance & Operations Lynn Bragga, Director Budget & Financial Reporting Presented January 22, 2013
Task Force Recommendations 4/18/2012
Task Force Recommendations 4/18/2012 ** This recommendation was from The Robert Bobb Group; the Task Force recommended it be funded, as did the Mayor and City Council.
Task Force Recommendations 4/18/2012
Task Force Recommendations 4/18/2012 Proposed in FY2014 budget per task force recommendation
Factors Impacting the Budget FY Revenue Shortfalls Salary/VRS 1% Implementation Salary Increase 1% No Furlough Days Health Insurance Rate Increase
*Projected Revenue Changes FY2012 Fund Bal.=$6M; Anthem=$4.9M; Stimulus=$5.5M FY2013 Fund Bal.=$8.2M; City=$5.6M FY14 funding reflects a $23M or 8.6% decline since FY2009.
Local appropriation o City of Richmond State support o SOQ Programs o Sales Tax o Lottery Funded Programs Other o Tuition & fees Federal support o Impact Aid o Air Force o Army Reserve *Excludes federally restricted funds such as Title I & IDEA The two major funding sources for the general operating budget are the City of Richmond and the Virginia Department of Education. Revenue Sources for the Budget FY
Revenue SourceFY2013FY2014$ Change% Change Fund Balance$8,229,300$1,400,000- $6,829, % City129,443, % Sales Tax23,761,81124,295,383533,5722.2% State84,575,36988,190,4553,615,0864.3% State - Medicaid1,500, % Other1,826,5001,004, , % Federal654,500710,00055,5008.5% Total$249,991,204$246,543,662- $3,447, % Projected Revenue Variance FY
NET REVENUE CHANGES BY CATEGORY One-Time Funding:- $ 6,829,300 Net State Revenue Gain:4,148,658 Net Other Revenue Loss:-822,400 Net Federal Revenue Gain: 55,500 Net Revenue Change - $ 3,447,542 Net Revenue Changes FY
What it pays for: Instruction Admin, Attendance & Health Pupil Transportation Operations, Maintenance & Facilities Fund Transfers What it does not pay for: Construction/Capital Projects School Nutrition Services State Operated Programs Federal Programs (Title I, IDEA) Other Pass-Through Programs (Maggie Walker, MSiC) The pie chart shown below represents functional spending for the general operating budget as defined by the Virginia Department of Education. Expenditures for the Budget FY *Data based on VDOE Chart of Accounts; not based on Standards of Quality (SOQ) Funding Methodology
ExpendituresFY2013FY2014$/# Change% Change Salaries & Wages$144,057,872$150,066,586$ 6,008,7144.2% Employee Benefits62,421,93164,448,4692,026,5383.2% Non-Personnel43,511,40143,641, ,4480.3% Total $249,991,204$258,156,404$ 8,165,2003.3% FTE’s3, % Note: 83.1% of resources are directed toward salaries & benefits Projected Expenditure Variance FY
NET EXPENDITURE CHANGES BY CATEGORY 1% Salary Increase with 1% VRS Offset$ 450,000 1% Raise (all employees-includes McDonnell’s SOQ Proposal) 1,800,000 Reinstate Furlough Days (5)3,387,200 Health Care (estimated 10% increase) 2,500,000 EpiPens18,000 Athletic Trainers 10,000 Net Expenditure Change $ 8,165,200 Net Expenditure Changes FY
Expenditure Changes In Millions
Revenue Decreases$ 3,447,542 Expenditure Increases$ 8,165,200 FY2014 Funding Gap $11,612,742 Projected Budget Summary FY
Proposed Budget Reductions FY
Proposed Budget Reductions FY
Proposed Budget Reductions FY
FTE Changes *Projected – does not include proposed budget reductions **Superintendent’s Proposed Budget Reductions
Governor’s Budget released December 18, 2012 2013 Legislative Session began January 9, 2013 (short session) Superintendent’s Proposed Budget presented January 22, 2013 Budget work sessions January 28 & 31, 2013 Public Hearing February 4, 2013 Budget work sessions February 4, 7 & 12, 2013 2013 Legislative Session adjourns February 23, 2013 School Board Budget approved February 19, 2013 Approved budget submitted to Mayor’s office February 22, 2013 Mayor’s budget presented to City Council March 6, 2013 City Council’s budget adopted on/before May 31, 2013 School Board Budget adopted June 3, 2013 Proposed Budget Calendar FY Dates & times for work sessions pending approval Dates need to be approved at the formal meeting.