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Budget Cuts and Their Consequences

Budget Cuts and Their Consequences. Mark Grey Assistant Superintendent, Business Services. 2008-2009 Budget Challenges. FEFP Funding Student Enrollment Property Valuations State Economy Fixed Costs Savings Measures. FEFP Funding. 2007-2008 Budget reduced by $32 million

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Budget Cuts and Their Consequences

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  1. Budget Cuts and Their Consequences Mark Grey Assistant Superintendent, Business Services

  2. 2008-2009 Budget Challenges • FEFP Funding • Student Enrollment • Property Valuations • State Economy • Fixed Costs • Savings Measures

  3. FEFP Funding • 2007-2008 Budget reduced by $32 million • 190 Unfilled district positions • Contingency Fund eliminated • Capital Equipment budgets eliminated • Vehicle Replacements eliminated • Dept budgets reduced • 2008-2009 Budget reduced by $9.06 million from previous year end

  4. Student Enrollment • May 2008 92,952.83 • Projected 08-09 93,745.96 • Budget 1% decline 92,808.51 • Current Differential 144.32 • Will all current students return for the next school year?

  5. Property Valuations • Projected 37,453,748,711 • June 2008 Estimate 36,510,834,328 • Variance (942,914,383) • Budget Impact ($5.45 Million)

  6. State Economy • Will the economy continue to decline, stabilize or improve? • Will there be a mid year reduction if the economy continues to falter? • May 2008 Revenue Conference numbers below estimates.

  7. Fixed Costs • Diesel Fuel increased $3.8 million • Utilities increased $1.0 million • Health Insurance increased $3.0 million • Restore Contingency Fund $3.0 million

  8. Savings Measures • 4 Days/10 Hours Work Week • Middle & High School Scheduling Model • Reduced most dept budgets by 10% • Property Insurance Coverage • Consolidate ESE sites from 4 to 1 • Reduce Athletic contests to FHSAA minimum

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