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 Presentation