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Meeting Date:
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Category:
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Type:
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Subject:
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1. Informational Overview and Public Hearing on the 2022-23 Superintendent's Proposed Budget |
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Strategic Plan Compatibility Statement:
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Goal 1 Academic Achievement Goal 2 Student, Family and Community Engagement Goal 3 Effective and Efficient Operations
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Attachments:
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Attachment (A) Transmittal Letter Attachment (B) Table of Contents Attachment (1) Executive Summary Attachment (2) Organizational Section Attachment (3) Financial Section Attachment (3A) Schools Attachment (3B) Central Services Attachment (3C) Line Items Attachment (4) Informational Section Attachment (5) Proposed Budget Referendum Supplement Attachment (6) Emergency Education Relief Fund Supplement Attachment (7) 2022-23 Superintendent's Proposed Budget Overview |
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File Attachment:
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Background:
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The District's financial planning and budget development is a year-round process that is guided by the Milwaukee Board of School Directors' goals, the Five Priorities for Success, and the approved budget parameters. The proposed budget is organized into four sections: Executive Summary; Organizational; Financial, including Schools, Central Services, and Line Items; and informational, including City Profile, MPS Profile, and Glossary. The attached proposed budget is a reflection of the collaborative efforts of school, family, district, and community stakeholders, and the Milwaukee Board of School Directors. Meaningful discussions took place to determine where and how public dollars are spent, ensuring equitable resource allocation that prioritizes funding for schools. The proposed budget reflects the commitment to provide the best possible learning experiences for all MPS children. |
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Fiscal Impact Statement:
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The proposed budget for July 1, 2022, through June 30, 2023, is balanced. A balanced budget is one in which funding authorized for each Fund matches the projected revenues. Projected 2022-23 revenue in the School Operations Fund is $1,042.4 million, which is a 0.9% decrease of $9.1 million compared with the 2021-22 fiscal year. The $84 million referendum amount is included in the School Operations Fund. The total proposed budget, which includes operations, nutrition, extension, construction, and grant funding is $1.3 billion. Compared with fiscal year 2021-22, this is a 36.0 percent decrease that is mainly attributable to the reduction of grant funds as a result of the recognition of Elementary and Secondary School Emergency Relief II and III in 2021-22; however, the funds can be expended through September 2024. |
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Implementation and Assessment Plan: |
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Recommendation
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Approvals:
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Recommended By: |
Signed By: |
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Lynn Ruhl - Director of Financial Planning and Budget |
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Signed By: |
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Martha Kreitzman - Chief Financial Officer |
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Signed By: |
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Keith Posley, Ed.D. - Superintendent |
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