Title
Proposed letter to the Honorable Dr. Juanita Miller, Ed.D., Chair, Prince George’s County Board of Education, in support of their First FY 2022 Financial Review and Transfer Request.
Background
The Public School Laws of Maryland require Board of Education and County Council approval of transfers between major State categories. Subsequently, the Prince George’s County Public Schools forwarded their First Financial Review and Transfer Request to the Council for consideration on June 9, 2022. The Financial Review was approved by the Board on March 24, 2022.
The Transfer request includes budget realignments and transfers between existing major State categories within the FY 2022 Board of Education Approved Budget. This FY 2022 Financial Review includes savings from salary lapse that will be redirected towards an early payment of the FY 2023 portion of the Other Post Employee Benefits (OPEB) annual contribution. The transfer request maintains a balanced budget and ensures fiscal stability through June 30, 2022, and it further assists in the comprehensive plan to reconcile the FY 2023 Operating Budget. Total revenue and expenditures remain at the Board of Education Approved Budget level of $2,775,176,835.