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Meeting Date:
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6/6/2024 - 6:30 PM
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Category:
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Old Business and Action Items
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Type:
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Action
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Subject:
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Adoption of FY 2025 Combined Funds Budget
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ACPS 2025 Strategic Plan Goal:
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Goal 2: Instructional Excellence ACPS will ensure that all students have access to and engagement with high-quality instruction. Goal 4: Strategic Resource Allocation ACPS will strategically provide differentiated resources and supports to schools and departments.
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Funding Source or Fiscal Impact (where applicable)
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File Attachment:
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Agenda Item Summary:
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The attached motion to adopt the FY 2025 Final Combined Funds Budget reflects all School Board and Superintendent recommended budget adjustments since the FY 2025 Combined Funds Budget adoption on February 22, 2024.
The FY 2025 Final Combined Funds Budget includes the following:
• Total budgeted revenues and other financing sources of: $370,004,919
• The City Appropriation to schools for FY 2025 totals: $273,034,300
• Total budgeted expenditures of: $378,173,186
o Operating Fund: $347,464,211 including Use of Funds of $6,968,267
o Grants & Special Projects Fund: $18,133,096
o School Nutrition Services Fund: $12,575,879
• A planned use of fund balance: $6,968,267
• FTEs for FY 2025 total: 2,705.70
o Operating Fund: 2,474.00
o Grants & Special Projects Fund: 110.70
o School Nutrition Services Fund: 121.00
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Background:
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ACPS continues to move forward in our efforts to realize the mission and vision established in ACPS 2025 strategic plan, and to prepare every student to have the skills necessary to be successful in the 21st century. We are guided by a commitment to providing equitable access to opportunities, and achieving academic excellence, where every school is high performing and every student succeeds. The adoption of the Combined-Funds Budget is an annual commitment to programs and activities for Alexandria City Public Schools.
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Recommendation:
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Madam Chair, I move that the Alexandria City School Board approve the FY 2025 Combined Funds Budget as follows:
• The FY 2025 Operating Fund budget in the amount of $349,289,067 for both revenues and expenditures. The Revenue includes the use of general fund balance in the amount of $6,968,267 as well as the addition of $1,200,000 Transfer-In from the Capital Improvement Program.
Expenditures will include a Transfer-Out of $1,824,856 to the Grants and Special Projects Fund. The Operating budget includes 2,474.00 FTEs and a
total City appropriation of $273,034,300.
• The FY 2025 Grants and Special Projects budget in the amount of $18,133,096 for revenues and expenditures. The Revenue includes a Transfer-In of $1,824,856 from the Operating Fund to provide supplemental funding support to the Virginia Preschool Initiative (VPI) program. This budget includes a total of 110.70 FTEs.
• The FY 2025 School Nutrition Services budget totals $12,575,978 for revenues and $12,575,978 for expenditures. This budget includes a total of 121.00 FTEs.
The Superintendent is granted the authority to make the necessary minor changes to comply with the intent of the School Board. Additionally, the School Board authorizes the encumbrances remaining as of June 30, 2024 to carry forward from FY 2024 to FY 2025 as an adjustment to the final budget.
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Approvals:
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Recommended By:
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Signed By:
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Dominic Turner - Chief Financial Officer
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Signed By:
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Dr. Melanie Kay-Wyatt - Superintendent
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Vote Results:
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| Original Motion | | Member Kelly Carmichael Booz Moved, Member Dr. Ashley Simpson Baird seconded to approve the Original motion 'Madam Chair, I move that the Alexandria City School Board approve the FY 2025 Combined Funds Budget as follows:
• The FY 2025 Operating Fund budget in the amount of $349,289,067 for both revenues and expenditures. The Revenue includes the use of general fund balance in the amount of $6,968,267 as well as the addition of $1,200,000 Transfer-In from the Capital Improvement Program.
Expenditures will include a Transfer-Out of $1,824,856 to the Grants and Special Projects Fund. The Operating budget includes 2,474.00 FTEs and a
total City appropriation of $273,034,300.
• The FY 2025 Grants and Special Projects budget in the amount of $18,133,096 for revenues and expenditures. The Revenue includes a Transfer-In of $1,824,856 from the Operating Fund to provide supplemental funding support to the Virginia Preschool Initiative (VPI) program. This budget includes a total of 110.70 FTEs.
• The FY 2025 School Nutrition Services budget totals $12,575,978 for revenues and $12,575,978 for expenditures. This budget includes a total of 121.00 FTEs.
The Superintendent is granted the authority to make the necessary minor changes to comply with the intent of the School Board. Additionally, the School Board authorizes the encumbrances remaining as of June 30, 2024 to carry forward from FY 2024 to FY 2025 as an adjustment to the final budget.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 9 Nay: 0. | | The motion Carried 9 - 0 | | | | | Meagan L. Alderton | Yes | | Jacinta Greene | Yes | | Dr. Michelle Rief | Yes | | Kelly Carmichael Booz | Yes | | Tammy Ignacio | Yes | | Christopher Harris | Yes | | Abdel-Rahman Elnoubi | Yes | | Dr. Ashley Simpson Baird | Yes | | Tim Beaty | Yes | |
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