Pursuing Excellence Pursuing Excellence through efficient and effective operationsthrough efficient and effective operations

School BoardSchool Board’’s Approved FY2013 Financial Plans Approved FY2013 Financial Plan

February 28, 2012February 28, 2012

Dr. Marcus J. Newsome, SuperintendentDr. Marcus J. Newsome, Superintendent

Employers want these skills

2

• adaptability/flexibility

•Critical Thinking/Problem solving

•Teamwork/collaboration

•Leadership

•Information Technology

•Application

•Professional work ethic

•Creativity/Innovation

•Written Communication

•lifelong learning/self-direction

•Understanding of globalization

•Civic/community participation

What skills will I need

to graduate college and

career ready?

� No classroom reductions

� Restoration of FY2011

2%-3% pay cut

� Beginning in FY2013,

new employees will contribute

5% of salary to VRS

3

School Board’s Approved Financial Plan

FY2013 Summary

FY2012 Approved Budget $522.1

Changes for FY2013:

VRS rate increase (12.21% to 18.96%) 16.7

health care cost increase 1.3

restore pay cut ($7.0 M total - current year bonus) 1.0

attrition (retirements, etc.) (2.0)

replacement buses 2.0

use of prior year’s reserve (6.5)

new employees pay 5% share of VRS (0.6)

4

FY2013 Approved Expenditures

($ in millions)

Changes for FY2013 (cont):

textbook funding (0.5)

eliminate unallocated positions (9 FTES) (0.3)

reduce central operating budgets (5%) (0.3)

reduce fund balance (0.2)

other changes * (0.1)

FY2013 Approved Budget $532.6

* Includes a $25K funding reduction for the Education Foundation

5

FY2013 Approved Expenditures

($ in millions)

FY2012 Approved Budget $522.1

Changes for FY2013:State aid 3.1State sales tax 5.4County revenue 2.3 CCPS (prior year savings) (2.7)County (one-time capital) 2.0Federal funding (9.7)Gainsharing 3.0Student parking fee (increased to $50) 0.1Federal/state/county 7.0

FY2013 Approved Budget $532.66

FY2013 Approved Revenues($ in millions)

• Full funding of SOQ re-benchmarking

• Realistic funding recovery strategy for VRS teacher pool

• Suspend required local match for these initiatives: Class Size Reduction and VPSA Technology

� Flexibility to use SOQ algebra readiness for any instructional support

� Flexibility to use preschool

initiative funding

7

Legislative Priorities for FY2013

Classroom

Teachers

Principals

Superintendent

School Board

Schools’ Directors(elementary, middle ,

high)

Community

Technology

Director

Instructional Directors(curriculum & instruction,

exceptional education)

Support Directors(transportation, facilities,

school nutrition)

Division Direction

Identify Needs:

Staffing

Materials

Facility

Use expertise to:

Evaluate &

Align

Sets Priorities

8

The FUTURE

How does our community

expect

our school system to

prepare for the FUTURE?

Executive Team – Budget Advisory Council – County Budget Committee

CCPS

Technology

Plan

PDK

Audit

MGT

Study

Expertise of many teams

and committees

2+ years of study

183 public meetings

200+ community

members

60+ meetings

Over 40,000 hours

46 different community

members &

200+ recommendations

over 25 years

Comprehensive

Plan

Design for

Excellence 2020

Committee on

the Future

School Board &

Superintendent

Target for Chesterfield County

2020

Maximize

Program Offerin

gs

Facility Use

9

Design for Excellence 2020

(technology component) May/June 2012

Comprehensive Plan June/July 2012

2014-2018 CIP (schools) September 2012

FY2014 Operating Budget (schools) November 2012

10

Future Important Dates

Questions