Subject: FY 2022 Midyear Budget Review

Staff Contact: Leigh Burden, assistant superintendent, Department of Financial  

                        Services

Other Staff Present: Marty Smith, chief operating officer

                                 Alice Wigington, director, Office of Budget Services

Meeting Category: December 16, 2021 – Regular Meeting

School Board Action Required: Action

Key Points:

In the School Operating fund, funds available are increasing by $3.4 million due to FY 2021 revenue and expenditure adjustments made after the FY 2021 Final Budget Review. The adjustments include a $3.3 million increase in revenue in sales tax based on actual receipts and the federal IDEA and CARES grants.  A $0.1 million decrease in expenditures results in a net increase of $3.4 million in available funding.

Recommended FY 2022 expenditure adjustments reflect a net increase of $2.5 million to provide security surveillance cameras at ten middle schools, graduation cost support for school year 2022, funds for the special education comprehensive review, and an increase in federal grant expenditures. In addition to the expenditure adjustments, position authorization to recognize 54.5 ESSER grant positions approved by the School Board and 2.0 positions for the middle school security camera program.    

As a result of the expenditure variance, the total funding available from the FY 2022 Midyear Review totals $1.2 million and it is recommended that the savings be added to the FY 2023 Beginning Balance.

Changes to other School Board funds for FY 2022 are detailed in the attachment.

Recommendation:

That the School Board approve revenue and expenditure changes reflected in the FY 2022 Midyear Budget Review as detailed in the agenda item.

Attachment:

FY22 Midyear budget agenda item