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Meeting Date:
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5/2/2024 - 6:30 PM
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Category:
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Old Business & Action Items
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Type:
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Info/Action
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Subject:
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Superintendent's Adjusted Proposed Budget on the FY 2025 CF and FY 2025-2034 CIP Budgets (documents uploaded 5/2/204)
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ACPS 2025 Strategic Plan Goal:
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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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NOTE: The City Council of the City of Alexandria will be adopting the City’s budget on May 1, 2024.
On Thursday, May 2, 2024, the Superintendent will submit her Adjusted Combined Funds and CIP Budgets which must factor in any changes since the School Board approved the budget on February 22, 2024. Revenue and Expenditure adjustments, to the Combined Funds (Operating, Grants & Special Projects, and School Nutrition Services) and adjustments to the Capital Improvement Program (CIP) budget, since the budgets were approved are enumerated below:
Combined Funds Budget (Operating Fund, Grants and Special Projects Fund, and School Nutrition Services Fund)
Operating Fund:
ACPS will recognize approximately $400,000 of additional Virginia Preschool Initiative (VPI) revenue due to a projected increase in funding from the Commonwealth of Virginia. The additional revenue, to the Grants and Special Projects Fund, allows for a reduced contribution to support the program from the Operating Fund.
Additionally, based on more recent estimates from ACPS’ health insurance carriers (specifically Kaiser and United Healthcare), ACPS is positioned to see savings of $984,000 from the Approved Budget. The above-mentioned adjustments to the Operating Fund will be offset by the following items:
● $232K - 2.0 FTEs Advanced Academic Services (itinerant teachers)
● $125K - 1.0 Program Coordinator dedicated to marginalized students
● $100K - Marginalized Student Achievement Program
● $200K - Impact of FY 2024 position reclassifications
● $263K - Communities in Schools funding
● $464K - 4.0 FTEs Teachers at ACHS
● ($400K) - Virginia Preschool Initiative transfer reduction
● ($984K) - Healthcare cost reduction
The result of the Proposed Superintendent’s Adjustments remains a balanced FY 2025 Operating Fund’s budget.
Grants and Special Projects Fund:
ACPS will recognize approximately $400,000 of additional Virginia Preschool Initiative (VPI) revenue due to a projected increase in funding from the Commonwealth of Virginia.
Due to the recognition of reduced health insurance renewal rates, the resulting benefits adjustments to Grants and Special Projects Fund is approximately $56,200 in employee benefits.
The above-mentioned adjustments to the Grants and Special Projects Fund will be offset by the requisite amount of non-compensation account increases for each affected grant and/or special project.
The result of the adjustments will not affect the FY 2025 Total Grants and Special Projects Fund Budget.
School Nutrition Services Fund:
Due to the recognition of reduced health insurance renewal rates, the resulting benefits adjustments to School Nutrition Services is approximately $49,900 in employee benefits.
The above-mentioned adjustments to School Nutrition Services will be offset by the requisite amount of non-compensation increases, specifically to Capital Outlay.
The result of the adjustments will not affect the FY 2025 Total School Nutrition Services Budget.
The Proposed Superintendent’s Adjustments also reflect an increase to the total Combined Fund’s full-time equivalent (FTE) staff by 7.0 FTEs. The adjusted total staffing is 2,703.70 FTEs.
Capital Improvement Program (CIP):
The Superintendent’s adjustments will be reflected on the morning of Thursday, May 2, 2024.
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Background:
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FY 2025 Combined Funds Budget
ACPS submitted a total City appropriation request of $279,571,300 for FY 2025, an increase of 8.1% from FY 2024. The City of Alexandria, which is the largest revenue source to ACPS, will adopt its budget on May 1, 2024 which includes the appropriation to ACPS.
Final state revenue is still being decided at the state level. However, our current budget projects this revenue based on currently available information. Upon finalization of the state’s budget, depending on the scope of any changes, ACPS staff will determine the next appropriate stage to reflect such changes.
FY 2025-2034 Capital Improvement Program
The Superintendent’s adjustments will be reflected on the morning of Thursday, May 2, 2024.
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Recommendation:
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The Superintendent recommends that the School Board approve the Superintendent’s adjustments to the Alexandria City Public Schools Combined Funds Budget and Capital Improvement Program Budget, as submitted.
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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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