Posted: Wednesday, May 14, 2014

Proposed 2014-15 General Fund Budget – First Reading - Wednesday, May 14, 2014

Prepared by the Communications Department

The 2014-15 Proposed General Fund Budget was accepted for first reading. The Board will consider approval of the General Fund Budget, including any amendments, on Tuesday, June 3, 6:30 p.m., preceded by a public hearing.

Key Points

  • Projected State Base Student Cost increases slightly to $2,120 (approximately 2002-03 funding), but is far below the $2,742 estimated by the State for full funding. The Base Student Cost for Greenville County Schools is much less - $1,544 - based on EFA funding including the State Index of Local Taxpaying Ability. With State increase, Local funding at minimum should increase to maintain balance of funding effort.
  • Generated savings and millage increase are needed to fund State and Federal mandates and Local requirements due to inflation. Reducing use of the Fund Balance (generated savings) to pay for recurring costs is in keeping with strategic initiative.
  • There is a $12 million gap between projected revenue and expenditures. Proposed budget is balanced using $7.05 million from the Fund Balance (generated savings) and a recommended 4.9-mill tax increase (businesses, rental homes, cars) of the 10.7 mills allowed by State law. Owner-occupied homes are not impacted.
  • Proposed budget provides a minimum salary increase of 2% for teachers (depending on schedule step), increases and modifies the bus driver salary schedule, provides a 2% raise for other employees, better maintains musical instruments, and provides support staff for Dr. Phinnize J. Fisher Middle School.
  • Employees’ salary increase offsets annual inflation and employees’ .5% increase for State retirement.
     
Budgeted Expenditures for FY 14 $485,523,000
Federal Mandated Expenditures for FY 15 - $268,000
Goal 2: Ensure Quality Personnel in All Positions
Affordable Care Act (Health Care Reform) .
268,000
State Mandated Expenditures for FY 15 - $17,928,000
Goal 1: Raise the Academic Challenge and Performance of Each Student
High Achieving Students (Replaces State funds moved from EIA to EFA Base Student Cost)
3,251,000
Students at Risk of School Failure (Moved by State from EIA funding) 4,988,000
Goal 2: Ensure Quality Personnel in All Positions
Teacher Step/Salary Increases ($4,198,000 and Certificate Upgrades ($700,000)
4,898,000
State Health Employer Insurance Increase (6.8% Increase Jan. 1, 2014 and 3.9% Increase Jan. 1, 2015) 2,201,000
State Retirement Employer Rate Increase (Effective July 1, 2014) 2,054,000
Goal 4: Effectively Manage and Further Develop Financial Resources
Payments to Charter Schools (Reflects reduction due to LEAD charter moving to State).
536,000
Local Required Expenditures for FY 15 - $4,327,000
Goal 1: Raise the Academic Challenge and Performance of Each Student
Student Growth (Utilizes funding from FY 14 for unrealized growth) 
0
Musical Instrument Maintenance Plan 26,000
Goal 2: Ensure Quality Personnel in All Positions
Increase in Local Portion of the Teacher Salary Schedule 
1,300,000
2% Cost of Living Increase for Support Salary Schedules 2,215,000
Modification to Bus Driver Salary Schedule  494,000
Goal 3: Provide a School Environment Supportive of Learning
Dr. Phinnize J. Fisher Middle School Staffing
292,000
Reduction of Expenditures for FY 15 – ($1,177,000)
Goal 4: Effectively Manage and Further Develop Financial Resources
Transfer Professional Development Expenditures to Special Revenue Fund 
(427,000)
Transfer Portion of Fringe Benefit Expenditures to Food Service Fund (750,000)
Proposed Budgeted Expenditures for FY 15 $506,869,000

Budget First Reading Document

Budget First Reading Presentation


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