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Governor McDonnell's Biennial Budget Proposal: Impacts on Suffolk's Education Funding

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talon-carpenter
10 diapositives · 230 Views · Nov 22, 2014

Governor McDonnell’s proposed biennial budget significantly impacts funding for Suffolk Public Schools. It outlines a 45% funding increase ($1.7 million) while also exposing a $3.9 million increase in retirement costs, requiring the locality to contribute an additional $2.1 million. The re-benchmarking process for public education funding has been altered, excluding inflation metrics, leading to outdated cost assessments. Additionally, federal deductions will further reduce available funds, and the remedial summer school budget has been cut by 32%. This proposal demands careful consideration of sustainability in educational finance.

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Governor McDonnell's Biennial Budget Proposal: Impacts on Suffolk's Education Funding
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  1. Governor McDonnell’s Proposed Biennial Budget Four areas that impact our funding: Retirement Funding Re-Benchmarking Federal Deduction Remedial Summer School

  2. Retirement System Governor McDonnell’s proposal increases funding by 45 percent or $1.7 million dollars for Suffolk. Increased Costs for Retirement = $3.9 million. The locality must find $2.1 million additional dollars to pay to the state retirement on behalf of the employees.

  3. Re-Benchmarking This is a process used by the state to calculate the cost of providing public education. Each new biennium the state takes the Annual Financial Reports for all schools systems and derives the cost for all positions and materials calling them “prevailing costs.”

  4. Re-Benchmarking 7 Key components of the funding formula are: 1. Student enrollment 2. Staffing standards for instructional positions 3. Salaries of instructional positions 4. Fringe benefit rates 5. Inflation factors 6. Federal revenues are deducted from support costs 7. Amount of sales tax revenue and division composite indices

  5. Re-Benchmarking -Inflation Governor McDonnell’s proposal removes inflation from the formula. Even though the Consumer Price Index has shown that prices have risen 4% in the last four years. Impact: The state is funding goods and materials at the price that we could purchase items for in 2009, not 2013.

  6. Federal Deduction Governor McDonnell’s proposal includes in its DEDUCTION from our funding, 59.2% of American Recovery and Reinvestment Act of 2009 and State Fiscal Stabilization fund program. Impact: The state is reducing their obligation to fund education by federal money that is NOT available to Suffolk Public Schools.

  7. Remedial Summer School Governor McDonnell’s Proposal includes moving remedial summer school from Lottery Funds(not guaranteed) back to SOQ funding (guaranteed). This is where it belongs. However, he reduced the funding by 32%. Impact: Remedial Summer School funds were decreased by $156,817.

  8. Other Items Reduction of $383,634 in SOQ Special Education funding because the Dec. 1stcount is lower. Elimination of $1 million in Supplemental Operating costs that the General Assembly legislated for FY2012. Composite Index change – $1.5 million