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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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2. Informational Overview and Public Hearing on the 2020-21 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) 2020-21 Superintendent's Proposed Budget Overview
Attachment (6) 2020-21 Superintendent's Proposed Budget Referendum Supplement
Attachment (7) 2020-21 (FY20-21) Budget Resolutions for School 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. The process 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 prioritizing funding for schools.
The spirit of this information overview is to publicly report and seek input from taxpayers concerning support for students and schools. It is incumbent upon the district to spend funding responsibly. This committee meeting and others planned as part of the budget timetable provide an opportunity for further budget review and discussion with the community and the Milwaukee Board of School Directors.
The budget presented prudently allocates resources to sustain funding in schools to stimulate student achievement. |
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Fiscal Impact Statement:
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The proposed budget for July 1, 2020 through June 30, 2021 is balanced. A balanced budget is one in which funding authorized for the School Operations Fund match the projected revenues.
Projected 2020–21 revenue in the School Operations Fund is $947.2 million, which is a 0.1 percent decrease of $0.7 million compared to the 2019–20 fiscal year.
With the referendum of $57 million added the total will be 1,004.2, a 5.9 percent increase of $56.3 million.
The total proposed budget, which includes operations, nutrition, extension, construction and grant funding is $1.2 billion. Compared to fiscal year 2019–20 this is a 0.2 percent increase that is mainly attributable to a projected increase in Construction Funds and a reduction in Operations and Categorical (grants) funds.
With the referendum the proposed budget, which includes operations, nutrition, extension, construction and grant funding is $1.3 billion. Compared to fiscal year 2019–20 this is a 4.9 percent increase that is mainly attributable to a projected increase in the Operations Fund as a result of a referendum to exceed the revenue limit by $57 million. |
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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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