Executive Summary:
The main way that the School Board can direct the organization’s financial performance is by setting budget parameters before the management team and staff starts budgeting for the upcoming fiscal year.
The following Budget Parameters for Fiscal Year 2022 have been developed and presented as follows:
- Seek alternative funding sources
- Continue to maximize revenue from State QBE via improving FTE count coding
- Allocate at least 75% of General Fund to schools
- Identify opportunities for cost efficiencies
- Maintain a competitive compensation structure
- To extent possible be revenue neutral as defined by the tax rollback form
- Maintain at least two months of fund balance
- Continue with a transparent Modified Zero-based budgeting process
- Continue to demonstrate sustainability related to budget recommendations
- Prepare for reduction in State Revenue
MOTION STATEMENT:
I move that the Fulton County Board of Education approve the proposed budget parameters as presented.
DIVISION SUPERVISOR:
Marvin L. Dereef Jr., SFO
Deputy Chief Financial Officer
Administrative Center
470-254-6841
PRESENTER:
Marvin L. Dereef Jr., SFO
Deputy Chief Financial Officer
Administrative Center
470-254-6841
OTHER CONTRIBUTOR:
Tracy Ogletree-Watson, Director, Budget Services
STRATEGIC INITIATIVE:
This Board agenda item is classified as “on-going work”, a set of recurring activities and projects central to daily district operations and support provided to schools, but outside the initiatives identified in Strategic Plan 2022.
FINANCIAL INFORMATION:
N/A