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Budget Update 2009-2010

Budget Update 2009-2010. February 5, 2009. Our Priorities have not changed…. Students Employees. But it’s a different year…. Learned of potential state shortfalls last summer Received letter from state indicating that K-12 could not be protected in this round of state cuts

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Budget Update 2009-2010

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  1. Budget Update2009-2010 February 5, 2009

  2. Our Priorities have not changed… • Students • Employees

  3. But it’s a different year…. • Learned of potential state shortfalls last summer • Received letter from state indicating that K-12 could not be protected in this round of state cuts • Started planning for potential cuts in current year funding and discussing impact on next year in September

  4. What have we been doing? Jan – met with principals and all depts, joint session with SB and BOS Feb – budget work session with SB Mar – budget summits with SB • Oct – 10% dept reduction plans with Supt, met with EAC • Nov – met with depts/principals, gathered employee suggestions, reviewed with SB • Dec – met with EAC and principals, gathered more suggestions March 26 – plan to adopt a school budget

  5. The Revenue Picture • Governor’s budget reflects reduction in state revenue (over $7 million from RCPS) • Preliminary county transfer ($1.6 million) • State shortfall growing……… $2.9B vs +$4.0B ???

  6. Average Daily Membership • Last year budget 14,600/14,802 actual • This year budget 14,600/14,610 est. • Budget for next year = ??

  7. ADM Trend

  8. Electric, gas, water, sewer Gasoline/diesel Joint capital plan Legal fees Formative assessments LCD bulbs Minimum wage New preschool for mandated programs Internet filtering software Student fee replacement Science Museum Budget Increase Requests

  9. $ (7.2M) State revenue reduction – Best Case Scenario? (0.7M) Declining sales tax revenues – down 23% (2.0M) Critical expenditure increases $( 9.9M) Estimated deficit 5.1M Tier 1 budget cuts 3.1M Tier 2 budget cuts 1.6M Tentative increase in county funding $ ( .1M) Getting close to balancing with best case scenario Budget Summary

  10. Tier 1 Budget Reductions = $5.2MSchool Board Approved December 2008

  11. EEWP Elections this Year • Tier 1 estimated 81 teachers retiring • 99 employees submitted as of Jan 31 • $6.1 million in salaries and benefits • $1.0 million in 20% payout per year • Staffing will determine how many of these positions can be eliminated and how many $ can be saved

  12. Tier 2 Budget Reductions = $3.1MSuperintendent Recommendation

  13. Tier 3 Budget Reductions(Not Approved at this Time)

  14. Use of Reserves – Our Rainy Day Funds • Personnel baseline reserves • Health insurance reserves • Laptop insurance reserves

  15. The Next Step General Assembly Sessions Jan 14 – session began Feb 8 – budget bills released Feb 28 – adopt and adjourn? Apr 8 – reconvened session?

  16. Visit our web site for weekly budget update www.rcs.k12.va.us Budget & Finance

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