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Meeting Date:
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5/24/2022 - 5:30 PM
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Category:
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ITEMS OF BUSINESS
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Type:
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Info
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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
Attachment (8) 2022-23 Proposed Budget Resolutions for Operations Construction and Extension
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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 which 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, 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 of MPS's 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 ESSER 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:
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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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