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The annual Fulton County Schools (FCS) budget proceedings have been underway for several months. In our efforts to continuously keep our community informed about the Fiscal Year 2025 planning process, this report is part of a series of budget updates that will occur between now and the Board’s final vote later this spring.
Superintendent’s General Budget Recommendation Presented to Board
At the April 25, 2024 Board of Education meeting, Chief Financial Officer Marvin Dereef and Chief Human Resources Officer Gonzalo La Cava presented the General Fund budget recommendation for FY25. Thanks to the leadership of Dr. Looney and the cooperative and diligent leadership efforts in district departments and at schools, with School Governance Council support, FCS has a budget recommendation that aligns with the parameters adopted by the Board in October and November 2023.
Economic and Enrollment Trends Impacting Budget
With school enrollment down, several factors in addition to inflation have contributed to an increase in the FY25 budget, including rising health insurance compensation and teacher retirement system rates. For the General Fund, which is the primary operating fund, projected revenue is $1.3 billion with recommended expenditures at $1.4 billion. Seventy-eight percent of the General Fund budget is allocated directly to schools.
Budget sources presented by Mr. Dereef include an increase in local fair share and currently assumes a millage rate reduction to 17.13, one of the lowest rates compared to other school districts in metro Atlanta. In summary, the budget request is a 2.56% increase from the current budget.
The district will continue lean operations, including streamlining processes to be as efficient as possible, looking for opportunities to share resources, investments in innovation, diversification of revenue stream, and maximizing funding to minimize the burden on taxpayers.
Employee Compensation
A major highlight of the FY25 budget is the compensation recommendation for district employees. For the past three years, the Board, along with Superintendent Looney, have demonstrated unwavering commitment by approving raises exceeding 12% for all FCS staff. This has enabled our district to remain highly competitive within the metro Atlanta market. This strategic approach to providing competitive wages has yielded significant results, particularly in the recruitment and retention of teachers.
The FY25 budget proposes a 4.5% salary increase and a step increase for all eligible FCS staff. Given the district’s unwavering commitment to safety and security, the budget also aims to develop a salary schedule that increases police officers' base pay by $5,000.
All Budget Information Available on Website
Comprehensive information about the budget, including the budget book, is available on the FCS website for the public to review before the first budget hearing on May 7, followed by the second hearing on May 15. After that, the Board will vote to adopt the tentative budget. The final adoption of the FY2025 Budget is scheduled for June 11. Download the full budget recommendation.
Fulton County Schools
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