Public schools of petoskey
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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

  • 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

  • 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

  • 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

  • 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

FY 2003-04 Budget


Fy 2003 04 budget environment

FY 2003-04 Budget Environment

  • 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

  • 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

  • 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

  • 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 $$

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


Revenue overview

Revenue Overview


Expense overview

Expense Overview


Summary

Summary


So now what

So Now What?

  • 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?

  • 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.


Questions and answers

Questions and Answers


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