Title
Proposed correspondence to Alvin Thornton, Ph.D., Chair, Board of Education, regarding their Operating Budget FY 2020 First Financial Review.
Background
The Board of Education (BOE) transmitted their FY 2020 Financial Review and Transfer Request on June 22, 2020. The BOE approved the CEO’s transfer request on March 27, 2020, however, due to the Council’s budget review process and the COVID-19 pandemic, Legislative Branch staff requested that transmittal of the request be held until it could be appropriately scheduled for action on the Council’s calendar.
The transfer request authorizes reassignment of appropriations between major budget expenditures categories in the amount of $7,502,724 in unrestricted funds and $1,954,464 in restricted funds. It also reduces the FY 2020 revenue and expenditure budgets by $2,514,340. The decrease accounts for a State recalculation of Tax Incremental Financing revenue, which occurred after the BOE adopted its Approved Budget. The appropriated budget total for FY 2020 was reduced from $2,183,122,900 to $2,180,608,560.
The request increases funding in the following major categories: Textbooks & Instructional Materials, Other Instructional Costs, Special Education, Student Transportation Services, and Maintenance of Plant. These increases in expenditure funding are offset by savings identified with the following categories: Administration, Mid-Level Administration, Instructional Salaries, Student Personnel Services, Health Services, Operation of Plant, Fixed Charges, Food Services Subsidy, and Community Services.
The transfer and revenue reduction request are required to comply with state law to ensure that expenditures do not exceed state categorical appropriated amounts.