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Richmond Public Schools School Board Approved Budget – FY15 Approved February 28, 2014

Richmond Public Schools School Board Approved Budget – FY15 Approved February 28, 2014. PRESENTED TO CITY COUNCIL March 31, 2014. Major Factors Impacting the Budget FY2014-2015. State Revenue Increase – Governor’s Intro Budget Composite Index Reduced for FY14-16

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Richmond Public Schools School Board Approved Budget – FY15 Approved February 28, 2014

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  1. Richmond Public SchoolsSchool Board Approved Budget – FY15Approved February 28, 2014 PRESENTED TO CITY COUNCIL March 31, 2014

  2. Major Factors Impacting the Budget FY2014-2015 • State Revenue Increase – Governor’s Intro Budget • Composite Index Reduced for FY14-16 • Local share reduced .4779 to .4635 (3%) • Enrollment increase 21,510 to 21,845 (K-12 only) • 9/30/13 Enrollment = 22,039 + 1,736 Pre-K • Final Phase in of 1% Salary for 1% shift of Employee VRS Retirement Share • Substantial Rate Increases for • VRS Retirement/Group Life/Retiree HCC • Health Insurance Rate Increase – 7.3% • Salary Increase: • Teachers-3.0%, Other Staff 2.0%

  3. STAFFING HISTORY – 10 YEARS

  4. Projected Revenue Variance FY2014-2015

  5. Revenue Changes by Major Category FY2014-2015 General Fund Revenue Use of Fund Balance: $ 2,400,000 State Revenue Gain: 8,266,572 Other Revenue Loss: (130,000) Net General Fund Revenue Change $ 10,536,572

  6. Revenue Sources for the Budget FY2014-2015

  7. CITY FUNDING TREND FY09-FY15 • CITY FUNDING TREND FY09-FY15

  8. Projected Budget Summary FY2014-15 • Revenue Increase $ 10,536,572 • = 4.4% increase • Expenditure Increase $(15,384,367 • = 5.7% increase • FY15 Funding Gap $(4,847,795) • = 3.7% of City or 3.0% of City & Sales Tax • GAP W/ MAYOR’S BUDGET $(3,847,795) • +$1.0M in MAYOR’S PROPOSED BUDGET

  9. Expenditure Budget By State Category FY2014-2015 What’s NOT included: Construction/Capital Projects School Nutrition Services State Operated Programs Federal Programs (Title I, IDEA) Other Pass-Through Programs (Maggie Walker, MSiC)

  10. CURRENT METRO AREA SALARY PROPOSALS – FY15 • CHESTERFIELD 1.0% • HANOVER 2.0% • HENRICO 3.0% • (UP TO - BASED ON TENURE) • RICHMOND 3.0/2.0% • (TEACHERS/SUPPORT STAFF)

  11. MAJOR UNFUNDED BUDGET NEEDS FY15 • School Security Equipment $1.4M • Wireless Technology Infrastructure $2.4M • Teacher Laptops $2.0M • VoIP Telephone $4.1M • HR/Payroll Staff Automated Time Sys $3.0M • School Bus Replacements $1.1M • Total $14.0M

  12. CAPITAL IMPROVEMENT PROJECTSFY2015-2019

  13. METRO AREA SCHOOLS INFRASTRUCTURE PROFILE – FY2014

  14. HOPE FOR THE FUTURE: IMPROVED SCHOOL DISTRICT – CONCEPTUAL FRAMEWORK Quality Teaching and Learning High Expectations and Accountability for Adults Coordinated and Aligned Curriculum and Assessment Coordinated & Embedded Professional Development Quality Classroom Instruction Effective Leadership Sustained Improvement Efforts Over Time Focus on All Students Learning Improvement Dynamic & Distributed Leadership Clear and Collaborative Relationships Support for Systemwide Improvement Professional Culture & Collaborative Relationships Effective Use of Data Clear Understanding of School & District Roles & Responsibilities Strategic Allocation of Resources Policy and Program Coherence Interpreting and Managing the External Environment Time

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