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Meeting Date:
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5/30/2024 - 5:30 PM
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Category:
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Report of the Committee on Strategic Planning and Budget (SPB)
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Type:
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Action
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Subject:
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3. Consideration of and Possible Action on the 2024–25 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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FY25 Budget Sections (Attachments 1-6)
Proposed Budgetary Amendments 01-06
Report of May Budgetary Activities (Attachment 7)
FY25 Budget Resolution (Attachment 8)
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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 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 reflects the collaborative efforts of schools, families, the 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 school funding.
The proposed budget reflects the commitment to providing all MPS children with the best possible learning experiences.
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Fiscal Impact Statement:
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The proposed budget for July 1, 2024, through June 30, 2025, is balanced. A balanced budget is one in which funding authorized for each Fund matches the projected revenues.
The projected 2024–25 revenue in the School Operations Fund is $1,166.7 million, which is a 11 percent increase of $119.4 million compared with the 2023–24 fiscal year.
The total proposed budget, which includes operations, nutrition, extension, construction, and grant funding is $1.47 billion. Compared with fiscal year 2023–24, this is a 8 percent decrease that is mainly attributable to the end of the federal Elementary and Secondary School Emergency Relief funds.
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Implementation and Assessment Plan
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Recommendation:
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1. Approve the Committee’s recommendations relative to the budget amendments, as described in the Attachment 7 to this item.
2. Adopt the proposed FY25 budget, including the attached resolutions for the School Operations, Construction, and Extension funds as presented in Attachment 8
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Approvals:
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Recommended By:
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Signed By:
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Jill Kawala - Interim Director/Board Clerk
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