Public schools of petoskey
Sponsored Links
This presentation is the property of its rightful owner.
1 / 18

Public Schools of Petoskey PowerPoint PPT Presentation


  • 56 Views
  • Uploaded on
  • Presentation posted in: General

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

Download Presentation

Public Schools of Petoskey

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


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

  • 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

  • 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

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

  • Reduction Percentage: 3.8%

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


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

  • 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 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

  • 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

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

  • Reduction Percentage: 11.0%

  • Est. Revenue Loss:$ 544,906


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 $$

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


Revenue Overview


Expense Overview


Summary


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?

  • 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


  • Login