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Madison City Schools

Madison City Schools. 2018 Budget. FY 2018 Proposed Budget 1 st Public Hearing August 24, 2017. Empowering Students for Global Success. Budget Process. Each Board of Education is required to: (1)Hold at least two open public hearings; (2)Conduct hearing during a regular Board meeting;

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Madison City Schools

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  1. Madison City Schools 2018 Budget FY 2018 Proposed Budget 1st Public Hearing August 24, 2017

  2. Empowering Students for Global Success

  3. Budget Process Each Board of Education is required to: (1)Hold at least two open public hearings; (2)Conduct hearing during a regular Board meeting; (3)Conduct hearing at a convenient time and place; and (4)Publicize the date and time of the hearings. State mandated process designed to develop a tool for the school system to use in order to provide an overall plan for the use of financial resources that will best serve the needs of the student body and encourage the concept of site based management.

  4. Budget Process (continued) Madison City Schools 2018 Budget Objectives • Maintain pupil/teacher ratios • Control expenses • Identify/Justify Requirements • Maintain adequate fund reserves Purpose of Hearings • Enhance Planning Process • Accountability/Transparency • Inform Community • Provide a Forum for Public Input • Foster Public Support for School System Basis of Budgeting • All anticipated revenues from State, Federal and Local sources are included • Conservative revenue estimates have been used on local sources • Resources have been assigned to various programs to best serve the needs of students Key Factors Affecting Budget • Instructional Needs • Enrollment • Personnel Costs • State Funding • Federal Budget Constraints • Local Revenue Projections • Facilities • Capital Planning

  5. Budget Highlights • State Funding Highlights: • Increased Average Daily Membership (ADM) by 371.85 to 10,279.20 • Funded teaching units increased by 23.33 to 582.77 • Foundation Allocation increased $2,165,462 to 49,800,114 • Other Current Expense Allocation increased by $758,567 to $11,229,937 • 10 Mill Chargeback increased by $254,970 to $6,769,420 • Local Funding Highlights: • Enrollment projection at 10,418 • Locally funding 15.37 teacher units ($1,200,000) • Average local revenue growth projected at 3.8% • Projected revenue losses of $1,789,693 required budget cuts of $635,069 (Central Office Departmental funds) • Capital Project Highlights: • Potential Liberty Middle School Renovation $9,494,000

  6. MCS Student Population 2018 LMS Addition RES and CES Reno Loss of Madison County Tax Revenue Madison Reno BJHS Renovation Pre-K JCHS Transportation Mill Creek Stadium Central Office Columbia Madison Renovation Rainbow W. Madison Renovation Heritage School District Started

  7. Madison City Schools 2017-2018 Budget

  8. Total Budget

  9. Total Budget

  10. Madison City Schools 2017-2018 Budget Ending Fund Balance equates to 44 Operating Days

  11. General Fund Revenues

  12. General Fund Expenditures

  13. Special Revenue Budget Special revenue funds included in the budget are comprised of federal funds that have specific guidelines and limitations on the expenditure of these funds. Local school public funds are also included in this group. Listed below are the primary programs for FY 2018.

  14. Debt Service Fund This fund reflects the annual debt payment (principal and interest) of the Madison City Board of Education on its outstanding debt as of October 1, 2017. Madison City Schools Total Debt is $165,108,180

  15. Debt Service Fund Annual Debt Payment Over Time $400,000 Reduction $1,500,000 Reduction $900,000 Reduction

  16. Capital Projects Budget This fund is used to acquire or construct major capital facilities such as a new school. Capital Project Expenses for FY 18 • Liberty Middle School Renovation $9,494,000 • Construction Manager Fees $325,000 • Lease of School Buses $800,000 • Bank Fees $150

  17. Expendable Trust/Fiduciary This fund is used to account for assets held by the school system in a trustee capacity for private organizations. This fund is made up of Local School Non-Public accounts. Listed below are the budgeted expenditures for each school.

  18. Questions?Please submit any questions to jlgray@madisoncity.k12.al.us

  19. FY 2018 Proposed Budget 1st Public Hearing August 24, 2017

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