Monday, April 28, 2014

FY15 budget hearing: presentation

Mr. Allen presenting; posting as we go: I'm told that this presentation is different ('though I don't think there's different information...nope! There is! Changes in the House budget)
  • flat enrollment
  • low inflation (for the second year straight)
  • federal grant reductions and phase out (RTTT & Level 4 grants)
  • certain costs exceeding 'normal inflation' (workers comp, health care, etc)
getting both save harmless and $25/pupil minimum aid
state projected to fully fund circuit breaker (at 75%)
charter school reimbursement has increased in House budget (don't know district level detail yet) & charter school assessment is down ($500,000 savings/additional revenue between Governor and House budget for WPS)
"we expect to receive McKinney-Vento" next year, and would be no loss of service regardless
estimating federal grants to be level funded, but won't have them until after the budget is concluded, probably
80 teachers, 204 IAs, after school and summer programs, staff development, specialized programs: all from federal grants
Net School Spending: required growth (CM fully intends to meet required growth) plus amount below Net School Spending from this year
$314,854,113 (and as always remember, that includes charter and school choice students) projected foundation budget for FY15
charter reimbursement up a bit from Governor's budget
required local contribution is up a bit as well: now $4,554,886 (as the state is projected to get additional local aid)
other local contribution and I'm reading between the lines here, but what the City Manager's going to do beyond required minimum looks like it's really up in the air as yet
FY15 revenue change from FY14 $732,179
considering all funds, about $11M budget gap
multi-year projection in the budget book (page 20); projected a $6M gap
what else changed?
professional projections had us going up in enrollment by 253 students: $2.9M difference
inflation factor was less than estimated (0.65% below): $2M difference
budget gap anticipated $6.1M gap PLUS $4.9M in projections...and there's your budget gap
Worcester School Committee receives budget on Friday, May 9 and it will be up online that evening, as well. Plan your weekend accordingly!

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