Subject: FY 2022 Approved Budget
Staff Contact: Leigh Burden, assistant superintendent, Department of Financial Services
Other Staff Present: Marty Smith, chief operating officer
Alice Wigington, director, Office of Budget Services
Meeting Category: May 6, 2021 – School Board Meeting
School Board Action Required: New Business
Ignite Link: Goal 4 – Resource Stewardship
Summary/Background (Key Points): FY 2022 Approved Budget
FY 2022 Advertised Budget
On February 18, 2021, the School Board adopted the FY 2022 Advertised Budget. The budget totaled $3.2 billion, an increase of $75.5 million, or 2.4 percent, over the FY 2021 Approved Budget.
For FY 2022, funds are budgeted that will allow FCPS to meet the most pressing needs of the school system in an unprecedented environment. The budget includes a request for an additional $104.4 million, or 4.9 percent, in the County transfer to provide a three percent compensation increase for employees; to continue expanding preschool special education class offerings; to address retirement rate increases and rising health care costs; to expand and support our response to meet student technology, social emotional, and instructional needs arising from the pandemic; and to offset decreasing revenue from state, federal, and other sources.
County Budget Impact
The County Executive presented his FY 2022 Advertised Budget Plan on February 23, 2021, which included a School Operating Fund transfer increase of $14.1 million, or 0.7 percent, as compared to FY 2021. As part of the County’s budget markup, additional funding of $15.2 million was recommended for FCPS.
Impact of State Budget to FCPS
The final state budget results in an increase in state funding of $5.2 million as compared to FCPS’ FY 2022 Advertised Budget.
|
Revenue Adjustments |
Amount |
|
FY 2022 Advertised Gap |
($104.4) |
|
County Transfer |
$29.3 |
|
State Aid |
$5.2 |
|
Beginning Balance |
$8.7 |
|
Total New Revenue |
$43.2 |
|
|
|
|
Gap to be Adjusted by Superintendent’s Recommendations |
($61.2) |
|
|
|
|
Expenditure Adjustments |
Amount |
|
Reduce Compensation Increase from 3% to 2% |
($24.6) |
|
Defer Instructional Resources (textbook and basal materials) -potentially replenish with yearend) |
($12.2) |
|
Shift FCPSOn and TSSpec positions to ESSER II |
($9.4) |
|
Projected Enrollment and Student Needs |
($7.4) |
|
Health Savings |
($5.9) |
|
Staffing Reserve (potentially replenish with yearend) |
($3.3) |
|
Utilities Savings |
($1.1) |
|
Defer Special Education Services Review Placeholder |
($1.0) |
|
State mandate - three specialized support positions per 1,000 students |
$3.6 |
|
|
|
|
TOTAL |
($61.2) |
Recommendation:
That the School Board adopt the FY 2022 Approved Budget as detailed in the
FY 2022 Advertised Budget modified by the adjustments included in the agenda item.
Attachments:
FY22 Approved Budget Presentation
FY22 Approved Budget Agenda Item