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Public Schools of Petoskey. Budget Update and Outlook February 14, 2003. The Big Picture: What We Know About FY 2002-03 at the State Level. $127 million deficit in FY 2002-03 Reduction letter has been issued

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Public schools of petoskey

Public Schools of Petoskey

Budget Update and Outlook

February 14, 2003


The big picture what we know about fy 2002 03 at the state level
The Big Picture: What We Know About FY 2002-03 at the State Level

  • $127 million deficit in FY 2002-03

  • Reduction letter has been issued

  • Legislature had 30 days (Feb. 14) to appropriate additional funds or reduce appropriation to avoid across-the-board reductions

  • No legislative action occurred, so the 3.8% reduction will affect our March State Aid payment


At risk fy 2002 03
At Risk FY 2002-03 Level

  • Original Budget: $262,385

  • Reduction for Added Schools: ($ 10,132)

  • 3.8% Reduction of Original: ($ 9,971)

    Amount Budgeted: $242,282

    Amount Spent YTD: $242,282


State aid cuts current year
State Aid Cuts – Current Year Level

  • Amount Subject to Reduction (Sec. 22b) $4,958,193

  • Reduction Percentage: 3.8%

  • Est. Revenue Loss this Year: $ 188,411


Current year changes
Current Year Changes Level

  • Capital Outlay: Remainder Mostly Eliminated

  • Supply Budgets: Reduced 20%

  • Conferences: Reduced / Entry Fees Only

  • Cutting in February is particularly tough as most budget expenditures are made in the beginning of the year.


Spending freeze
Spending Freeze Level

  • Non-Payroll Budget $2,133,682

  • Essential Items (Utilities, etc) $1,147,067

    • Discretionary Budget$ 986,615

  • 20% of Discretionary Budget $ 197,323

    • Revised Discretionary Budget $ 789,292

  • Spent to Date $ 685,331

  • Amount Avail thru End of Year $ 103,961



Fy 2003 04 budget environment
FY 2003-04 Budget Environment Level

  • State General Fund short $2 Billion

  • State School Aid Fund short $366 Million

  • State General Fund contributes $198 Million to School Aid Fund.

  • Governor has indicated the need for across the board GF cuts to alleviate the shortfall.

  • Bottom Line: 11% Reduction next year is the Best Case scenario


At risk fy 2003 04
At Risk - FY 2003-04 Level

  • Original Budget: $262,385

  • Reduction for Added Schools: ($ 10,132)

  • 11% Reduction of Original: ($ 28,862)

    Amount Available: $223,391

    FY 2002-03 Budget: $242,282


State aid fy 2003 04
State Aid - FY 2003-04 Level

  • Amount Subject to Reduction (Sec. 22b) $4,953,690

  • Reduction Percentage: 11.0%

  • Est. Revenue Loss: $ 544,906


Fy 2003 04 cost increases
FY 2003-04 Cost Increases Level

  • Step Increases alone: $237,205

  • LT Leave Staff Returning: $ 97,212

  • Retirement Rate to 15%: $302,529

  • Health Increase 20%: $515,746

    • Total Cost Increases $1,152,692

  • Lost Revenue: $544,906

  • Next Years Budget Challenge: $1,697,598


How we spend our
How We Spend Our $$ Level

Total Expenditures (FY 02-03): $22,909,242




Summary
Summary Level


So now what
So Now What? Level

  • We are looking for bright ideas!!

  • We can easily address $200K in cost savings, but $1.7 million is tougher and should be addressed together.

  • Cost savings suggestions?

  • E-mail ideas to Kent or your building principal; or fill out the supplied form.


How do we increase student achievement
How Do We Increase Student Achievement? Level

  • Even in this environment of budget constraints.

  • We want your ideas

  • E-mail them to Dr. J, Jane Bailey, or Building Principal; or fill out the supplied form.



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