Public schools of petoskey
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Public Schools of Petoskey. Budget Update and Outlook February 5, 2003. At Risk. Original Budget: $262,385 Pro-rated for Added Schools:($ 10,132) 3.8% Reduction of Original: ($ 9,971) Amount Budgeted:$242,282 Amount Spent YTD: $242,282. State Aid.

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Public Schools of Petoskey

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Public schools of petoskey

Public Schools of Petoskey

Budget Update and Outlook

February 5, 2003


At risk

At Risk

  • Original Budget: $262,385

  • Pro-rated for Added Schools:($ 10,132)

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

    Amount Budgeted:$242,282

    Amount Spent YTD: $242,282


State aid

State Aid

  • Amount Subject to

    Proration (Sec. 22b)$4,958,193

  • Proration Percentage:3.8%

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


Fy 2003 04 budget

FY 2003-04 Budget


Fy 2003 04 budget1

FY 2003-04 Budget

  • 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


State aid fy 2003 04

State Aid FY 2003-04

  • Amount Subject to

    Proration (Sec. 22b)$4,958,193

  • Proration Percentage: 11.0%

  • Est. Revenue Loss:$ 545,401


Fy 2003 04 cost increases

FY 2003-04 Cost Increases

  • Step Increases alone: $173,884

  • Retirement Rate to 15%: $286,284

  • Health Increase 20%: $515,746

    • Total Cost Increases $975,914

  • Lost Revenue: $545,401

  • Next Years Budget Challenge: $1,521,315


How we spend our

How We Spend Our $$


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