FY 2024 School Board

Budget Work Session

April 24, 2023

Approved Budget Book 1

Current Revenue Outlook
❏ 4/11 - Local Tax Rate: The
County Government approved
the budget and tax rate
including categorical funding for
schools. On this night, 0.034
was added to the tax rate to
provide schools with $10.80
million in local revenue.
❏ 4/12 - State Budget: Gov’s
“skinny budget” amendments
passed unanimously during
veto session. None of those
amendments impacted K-12
2
The County School Operating is Funds 1000, 2000, 4000, and 5000
funding.
 Historical Local $
❏ Since 2001, FY 2024 has been the largest year on year
contribution increase in over two decades.
❏ For FY 2024, the County BOS approved the additional increase in
local funding by state category specifically for:
○ Across the Board Average 5% Salary Increase
○ One-Time Retention Initiative
○ DASS Study (Year 1)
○ Debt Service Payments

3
 FY24 Local Transfer
Operating Fund Local Transfer

Debt Transfer $ 1.21

One Time Reduction -0.15
One Time Addition +1.28
New On-Going +8.46
TOTAL LOCAL TRANSFER: 10.80
4
The County School Operating is Funds 1000, 2000, 4000, and 5000
 Schools’ Budget GAP
Revised Budget GAP
Total SB Approved GAP - $21.85
State Reduction - 4.25
New Local Funds Funded + 9.74
Categorically
$6.84M 5% Salary Increase by County
$1.62M DASS Study
$1.28M One-Time Payment

TOTAL GAP IN FUNDING: - 16.36

5
The County School Operating is Funds 1000, 2000, 4000, and 5000
Schools’ Budget GAP
After funding the County’s categorically funded
items, there is only $5,842,281 in State Funds
available to fund the remaining Approved
Spotsylvania County Public Schools needs.
6
Schools’ Budget GAP
School Administration
Recommended Revisions
for Budget Adoption

7
School Administration Recommendations

The County School Operating is Funds 1000, 2000, 4000, and 5000
8
School Administration Recommendations

The County School Operating is Funds 1000, 2000, 4000, and 5000
9
School Administration Recommendations

The County School Operating is Funds 1000, 2000, 4000, and 5000
10
School Administration Recommendations

The County School Operating is Funds 1000, 2000, 4000, and 5000
11
School Administration Recommendations

*Position approved in FY 2023; in FY 2024, the ongoing expense needs to be added to the baseline budget.

The County School Operating is Funds 1000, 2000, 4000, and 5000
12
School Administration Recommendations

The County School Operating is Funds 1000, 2000, 4000, and 5000
13
School Administration Recommendations

● After removing $14.5M of needs, there still remains $1.86M Budget GAP

● In Order to Balance Budget these additional reductions are being recommended

14
The County School Operating is Funds 1000, 2000, 4000, and 5000
FY24 CIP Recommended Budget Summary

The FY 2024 CIP Maintenance plan reflects the use of Health Insurance and Operational
Carryover Funds. This reduces FY 2024 appropriation amount, however, it does not alter
the overall funding for all projects approved by the School Board.

15
FY24 All Funds School Recommended Budget
Summary
Fund FY24 Final Amount *The School
Operating Budget
School Operating * includes the $4.2M in
Funds 1000, 2000, 4000, and 5000 $378,534,545 state funding to
match the budget
Food Service adopted by the
county on April 13,
Fund 3000 $14,153,044 2023. The schools
will reconcile and
Capital Improvement Plan process a budget
Fund 6000 $46,538,360 amendment once the
state’s final budget is
Fleet Service signed by the
governor and
Fund 7000 $3,443,976 technical documents
are posted by the
FY24 Grand Total $442,669,925 VDOE.
16
Schools’ Budget GAP

Request Recess:
To Draft Budget Resolution

17
Next Steps

18
Closing Remarks and Next Steps

Next Steps:
1. FEB 06 School Board’s Budget Public Hearing.
2. FEB 13/15 School Board Budget Approval.
3. FEB 14 County Administrator’s Proposed Budget.
4. FEB 28 School’s Present FY 2024 Budget to Board of Supervisors.
5. MAR 14 Board of Supervisors Tax Rate Advertisement.
6. MAR 21 Board of Supervisors CIP Work Session.
7. MAR 27 School Board Work Session
8. MAR 30 Board of Supervisors Public Hearing on Budget, Tax Rate, and Capital
Improvement Plan.
9. APR 24 School Board Adopts FY 2024 Budget and CIP

For More Information: 19

https://www.spotsylvania.k12.va.us/page/finance
End of Presentation

20