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LCPS 2014/15 Budget Overview

LCPS 2014/15 Budget Overview. May 27 , 2014 Regular Board Meeting. Budget Priorities. NM Legislative Requirements 3% average salary increase 3% additional average i ncrease for Educational Assistants increase in ERB Rate from 13.15% to 13.9% of total salary (5.7% increase)

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LCPS 2014/15 Budget Overview

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  1. LCPS2014/15Budget Overview May 27, 2014 Regular Board Meeting

  2. Budget Priorities NM Legislative Requirements • 3% average salary increase • 3% additional average increase for Educational Assistants • increase in ERB Rate from 13.15% to 13.9% of total salary (5.7% increase) • 2.85% increase to Health Insurance Coverage Board Of Education • Smaller Class size • Salary enhancement • Adequate supplies to schools • Access to technology

  3. Instructional Enhancements Target = 85:5-16 Enhancement of “Turn Around” initiatives Expansion of LEAP Start up of APMA (Arrowhead Park Medical Academy) Expansion of Valley View mission (multi-age setting)

  4. State Equalization Guarantee • SEG • Unit value increased $188.20 (4.9%) • SEG increased $7 million (4.15%)

  5. Budget Overview * Other Funds Include Food Service, Athletics and Student support funds (activity)

  6. General Fund Revenue Year-end Cash Balance projected at $9 Million. This is an aggressive projection LCPS was aggressive in projecting revenue for the 2014/15 budget The initial allocation for the transportation cost is an increase of 1%. Rents & Leases is a flow through allocation from PED and will be established at a later date A 4.7% reduction from the prior year.

  7. School (non-payroll) Budget Request Crossroad, MV Hospital and Detention Center are included in table 2 only • School budgets have increased 18% for non-payroll purchases • Largest increases • Software – Purchase of Lexia software for student learning • Supplies/Materials High school request is a larger increase due to the startup cost of ECHS Medical Academy

  8. Department (non-payroll) Budget Request Department Budgets have increased 8% over 2013/14 Most increases are in the area of instruction Reserves in the utility accounts have been eliminated.

  9. Operational Staffing Salaries & Benefits are 92.3% of recurring revenue. • Instructional Staff • New Teachers +37 • Elementary +13 • Mid Schools +17 • In the bullpen + 7 • Dean of Students +1 • Other • Asst. Principals + 3 • Custodian + 1 • Security +1 • Maintenance +2 • Tech +3 • Sec/Cler +3

  10. Questions? Additional analysis in the Executive Summary

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