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Meeting Date:
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10/25/2018 - 6:30 PM
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Category:
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Reports and Communications from the Superintendent of Schools
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Type:
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Action
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Subject:
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2. Action on Proposed Amendments to the Adopted 2018-19 (FY19) Budget for School Operations, Construction, and Extension Funds
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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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1. 2018-19 (FY19) Proposed Budget and Staffing Changes Summary
2. 2018-19 (FY19) Proposed Budget Resolutions for School Operations, Construction, and Extension Funds
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File Attachment:
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Background:
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The Wisconsin Department of Public Instruction (DPI) certified school district’s aid amounts and updated the district’s revenue limit worksheet on October 15, 2018. Since the institution of revenue limits, it has been routine to amend the district's annual budget at this point in the fiscal year in order to adjust projections to actual revenue and enrollment. These changes require adjustments to revenues and expenditures, as well as technical adjustments to the proposed 2018-19 budget as adopted by the Milwaukee Board of School Directors (Board) on May 31, 2018.
Attachment 1 summarizes the recommended adjustments to the budget adopted in May, based on current data and the priorities established in the Board’s three goals of academic achievement; student, family and community engagement; and effective and efficient operations.
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Fiscal Impact Statement:
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Approval of the proposed changes as outlined in Attachment 1 will result in a total budget, including estimated categorical grants, of $1,187,180,618, based upon current law and revenue-limit calculations.
In accordance with Board Rule 1.14(3), “A recorded affirmative vote of two-thirds of the Board membership shall be necessary to … request tax funds or the sale of bonds for the purpose of school construction.”
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Implementation and Assessment Plan
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Recommendation:
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The Administration recommends the Board adopt the budget changes as proposed and that the annual budgetary resolutions be adopted as indicated in Attachment 2 to this item.
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Approvals:
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Recommended By:
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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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