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WASHOE COUNTY SCHOOL DISTRICT

WASHOE COUNTY SCHOOL DISTRICT. Budget Town Hall Meeting January 23, 2008. How did we get here?. December 14, 2007 Notified by the Governor of a State budget shortfall of $440 million. How did we get here?. January 7, 2008 Informed by the Governor that State shortfall was $500 million.

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WASHOE COUNTY SCHOOL DISTRICT

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  1. WASHOE COUNTY SCHOOL DISTRICT Budget Town Hall Meeting January 23, 2008

  2. How did we get here? • December 14, 2007 Notified by the Governor of a State budget shortfall of $440 million.

  3. How did we get here? • January 7, 2008 Informed by the Governor that State shortfall was $500 million.

  4. How did we get here? • January 18, 2008 Informed by the Governor that the State shortfall was $517 million.

  5. What does this mean? • This means a 4.5% reduction: • $283,000,000 = All State Agencies • $208,000,000 = Rainy Day Fund (Leaves $59 million; could go as low as $30 million) • April = Deadline for how districts plan to make cuts. • Date for remittance of funds to be determined.

  6. State General Fund Revenues Economic Forum Forecast vs. Revised Projections

  7. Budget Reduction Calculation

  8. New State Program Funding Not Yet Awarded

  9. Remaining Reduction Required From Statewide Specific Resources (If all new funding listed previously is eliminated: FY2008 = $24,831,885 FY2009 = $4,444,464 Total = $29,276,349

  10. Washoe County School District’s Budget Cut $4,288,547

  11. Where do we go from here? Possible Reduction Alternatives: • Postponement of K-5 Science Textbook Adoption: $2.5 million • Investment Interest Earnings = $500,000 • Contingency Fund = $1 million • Bus Replacement Delay = $500,000 • Postpone Computer Refresh Program = $1.7 million • Ending Fund Balance

  12. Board of Trustees will make final decision between now and April 1, 2008. Questions?

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