Subject: 1.04 Fiscal Year 2017 Operating Budget Discussion

Meeting: May 18, 2016 - Board of Education Work Session [12:30 p.m.]

Type: Action, Information, Discussion

Goals: Goal 1 Student Achievement - FCPS will equip each and every student to be an empowered learner and an engaged citizen to achieve a positive impact in the local and global community.

Goal 2 Effective and Engaged Staff - FCPS will hire, support, and retain staff who champion individual, professional, and student excellence.

Goal 3 Resource Allocation - FCPS will pursue and utilize all resources strategically and responsibly to achieve identified outcomes and inspire public confidence.

Goal 4 Family and Community Involvement - FCPS will nurture relationships with families and the entire community, sharing responsibility for student success and demonstrating pride in all aspects of our school system.

Goal 5 Health and Safety - FCPS will promote a culture fostering wellness and civility for students and staff.

PURPOSE OF PRESENTATION: The Board of Education will discuss their Fiscal Year 2017 Operating Budget.

BACKGROUND/SUMMARY: The Board of Education of Frederick County (BOE) submitted a $569.3 million requested budget to the County Executive on February 17, 2016. The request was $25.7 million above the required Maintenance of Effort (MOE) Funding required by the County Government. The Board Requested Budget has subsequently been updated to reflect:

County Executive recommended appropriations and changes to in-kind expenses
Additional projected FY2016 surplus to be used in FY2017 budget
Increase to fringe costs (workers compensation, life insurance and retirement administrative fee)
Minor change in state funding
Reduction of one-time costs

These changes are reflected in Attachment A and reduce the variance between projected revenues and expenditures to $13.9 million.

The BOE discussion and action to balance the FY2017 Operating Budget previously scheduled for May 11, 2016 was moved to the work session today. Final approval of the FY2017 Operating Budget is scheduled for the May 25, 2016 BOE Meeting.

Attached for reference is additional information requested by the BOE for this budget discussion.

PRESENTER(S) & TITLE(S):

Leslie Pellegrino, Chief Financial Officer

SUBMITTED BY:

Leslie Pellegrino, Chief Financial Officer

File Attachments

05 18 16 FY17 Operating Budget BOE PPT_Attch C.pdf (196 KB)

05.18.16 FY17 Operating Budget_backup_Attach B.pdf (311 KB)

05.18.16 FY17 Operating Budget_backup_Attach A.pdf (146 KB)

Motion & Voting

Moved to accept all of the PPT savings, with a change to drop a half of a percentage making it 2.5 percent for a total of $326,502 to the Reduction to insurance increase.

Motion by Colleen E Cusimano, second by April F Miller.