Proposed Financial Plan for Fiscal 2013-2014BUDGETED FUNDS SUMMARY

2011-2012 2012-2013 2013-2014 %

ACTUAL REVISED PROPOSED Inc/(Decr)

BY FUND:  

OPERATING FUND  $     121,562,123   $        123,539,771  $ 131,758,902 6.65%

GRANTS FUND            11,350,936                 9,042,000  9,105,000 0.70%

FOOD SERVICES FUND              6,868,507                 7,153,172  7,414,703 3.66%

TOTAL ALL FUNDS  $     139,781,566   $        139,734,943  $ 148,278,605 6.11%

Revenue All Funds

Operating Fund $131,758,902

Grant Fund $9,105,000

Food Services Fund $7,414,703

Operating Fund Revenue

State Revenue$74,245,

09756.35%

Federal Rev-enue

$1,169,000

0.89%

City Appro-priation$55,643

,20042.23%

Other Funds$701,605

0.53%

Expenditures by Major Classification

Instruction $108,038,493

72.86%

Admin & At-tendance

$3,760,625 2.54%

Health & Psych $1,974,492

1.33%

Transportation $7,346,897

4.95%

Operations & Maintenance $14,276,033

9.63%

Food Services $7,414,703

5.00% Technology $5,467,361

3.69%

Expenditures by Object Code

Personnel compensation and benefits make up 84.09% of the Operating fund budget.

Com-pensa-

tion59.38%

Benefits24.71%

Operating Costs

15.91%

History of State Funds

2008-2009 2009-2010 2010-2011 2011-2012 $65,000,000 $67,000,000 $69,000,000 $71,000,000 $73,000,000 $75,000,000 $77,000,000 $79,000,000 $81,000,000 $83,000,000

$80,262,870

$73,981,870 $72,450,870 $73,025,966

74,200,097

History of Local Appropriation of funds

2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 Proposed 2013-2014

-

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

RequestedFunded

REQUIRED LOCAL EFFORT (RLE) ANALYSISFiscal Year 2011- 2012 ACTUAL

SuffolkYork

NorfolkIsle of Wight

SouthamptonFranklin

PoquosonHampton

Virginia BeachChesapeake

Newport NewsPortsmouth

0.00% 50.00% 100.00% 150.00% 200.00%

76.56%

95.01%

96.49%

99.79%

109.66%

113.20%

118.36%

124.60%

135.96%

146.30%

152.48%

176.02%

REQUIRED LOCAL EFFORT (RLE) ANALYSISFiscal Year 2012- 2013 Budgeted

Newport NewsSouthampton

HamptonSuffolk

PortsmouthIsle of Wight

PoquosonChesapeake

FranklinNorfolk

YorkVirginia Beach

0.00% 20.00% 40.00% 60.00% 80.00% 100.00%120.00%52.89%

64.35%

68.93%

75.64%

82.48%

85.64%

96.09%

102.01%

105.49%

109.19%

111.12%

115.25%

• Staggered bus schedule of $700,000

• Efficiency savings found from:• PD360/Staff Development• Financial software• Purchase card rebates/PO reduction • Electronic Application portal• Safe Schools/Worker’s compensation benefit• External review of copier equipment usage• Copy cost tracking software• Utility behavioral changes

Proposed Budget includes reductions:

Appropriation renewal FY2013 $2.0 million

Increased Appropriation Request $7.0 million

Total $9.0 million

Proposed Budget:

Investment in people• 2% Cost of living raise $2,000,000• Compliance VRS phase-in 1% (2nd year of 5) $200,000• Teacher Scale Adjustment $930,478•Health Care benefit increase $2,100,000

Total $5,230,478

What does an additional $9 million investment in schools purchase?

• Budget priority Instructional support positions and strategic staffing• Graduation coaches Science Specialists Social Studies Specialist Content specific supervisors/specialists Class

Size Reduction teachers $ 948,081

• Remediation for struggling students $ 161,441

Total $1,109,522

Investment in strategic staffing:

• Restore school allocations -instructional supplies $360,000 • Equipment Replacement $1,100,000 HVAC and Copier

• Fixed Costs increases $1,200,000 Total $2,660,000Grand Total $9 million

Investment in Schools: