Public schools of petoskey
Download
1 / 11

Public Schools of Petoskey - PowerPoint PPT Presentation


  • 51 Views
  • Uploaded on

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.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Public Schools of Petoskey' - vaughan-graves


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

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 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



ad