1. TWO YEAR FINANCIAL PLAN TO MEET A ONE MONTH’S RESERVE
Tina Hancock
Chief School Financial Officer
June 6, 2019

2. FISCAL YEAR 2020
Combine AfterSchool Care sites to save approximately $75,000
Reduce local units by for a cost reduction of approximately $4.3 million, as recommended by the State Department of Education through non-renewals and attrition
Reduce Support Staff by 16 units, for a cost savings of approximately $1,200,000 through non-renewals and attrition
Reduce outsourced staff for a cost savings of approximately $150,000

3. FISCAL YEAR 2020
Rebid contract labor to reduce costs by approximately $300,000.
Eliminate 7 bus routes and stops outside of the 5 mile radius for an approximate savings of $455,000
Eliminate daily contracts associated with early morning and evening bus duty and tutors for a cost savings of approximately $200,000
Reduce the amount of supplements/stipends paid by $700,000
Implement a fee for local Pre-K classes based upon the sliding scale for OSR Pre-K classes to generate approximately $250,000

4. FISCAL YEAR 2020 .
Split P-8 schools into an elementary school and a 6-8 school, which will be allocated by the state to receive an additional $600,000
Reduce curriculum software contracts for a savings of $500,000
Total Approximate Savings for FY2020 = $8,730,000

5. SAVINGS ANALYSIS
Savings $8,730,000
FTE Equivalent teaching positions
Attrition/Non-Renewal reductions -57 teaching positions
Net 59 positions
We were able to reduce stuff instead of staff. By reducing contracts and reclassifying how funds are spent, we did not have to reduce 59 more staff positions to have a $8.73 million savings.

6. FISCAL YEAR 2021 Reduce software maintenance agreements: $185,000
Generate new revenue streams - $100,000
Savings from collaboration with city government- $200,000
Continue to evaluate staffing
Continue to evaluate software maintenance agreements and other contracts
Continue to evaluate programs and their benefits