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Dawn Page, Chair - Distr ict 8
Maurice Henderson, Vice-Chair - Distr ict 5 Kimberly Bridges - Distr ict 1
Kimberly Gray - Distr ict 2 Norma Murdoch-Kitt - Distr ict 3
Adria Graham-Scott - Distr ict 4 Chandra Smith - Distr ict 6
Donald Coleman - Distr ict 7 Evette Wilson - Distr ict 9
Dr. Yvonne W. Brandon, Superintendent
Factors Impacting the FY2013 Budget
NET CHANGES BY CATEGORY Net Loss of One-Time Funding: $ 8,170,700 Net State Revenue Loss: 985,300 Net Changes from FY2012 to FY2013: 223,100 1% Salary Bonus: 1,560,000 Virginia Retirement System (VRS):
• Rate Increase 11.93% to 17.77% (40%) 8,218,900 VRS Group Life Insurance:
• Rate Increase 0.28% to 1.19% (326%) 1,294,200 Health Care:
• Health Insurance Rate Increase (10%) 2,370,000 Speech Therapy Services: 1,000,000 Projected Deficit: $23,822,200
Sources for the FY2013 Budget
Level of State Funding
FY2009 FY2010 FY2011 FY2012 FY2013*
State 135,629,9 117,908,0 111,921,3 107,450,5 106,468,2
-
30,000,000
60,000,000
90,000,000
120,000,000
150,000,000
Local Composite Index
The Local Composite Index (LCI) is a measure of how much a locality can afford to pay for K-12 education and is determined by three factors:
•Local real value of property
•Adjusted gross income
•Local taxable retail sales
Local Composite Index (LCI)
0.00000.05000.10000.15000.20000.25000.30000.35000.40000.45000.5000
2006-2008 2008-2010 2010-2012 2012-2014
0.3616 0.3447 0.3551 0.3539
0.4352 0.4118 0.4195 0.4203
0.4604 0.4319 0.4370 0.4276 0.4329 0.4272
0.4945 0.4779
Chesterfield Hanover Henrico Richmond
Percentage of Local Funds
24.6%
24.1% 23.8%
24.3%
23.8% 23.5% 23.7%
22.4%
21.6%
21.0% 21.0%
20.3%
18.1%
16.3%
15%16%17%18%19%20%21%22%23%24%25%
Regional Comparison Percent of Local Funding
Richmond’s percentage excludes approximately $52M in “Rainy Day” funds that are part of the City’s total general fund budget.
FACT: On average, the City’s revenue has increased as the school’s allocation has decreased
4.2%
4.0% 6.3%
1.5%
3.3% 4.2%
4.1%
5.5%
3.9% 3.1%
-4.2%
1.4%
11.6%
10.8%
-0.5%
1.6%
5.4% 3.5%
1.2%
2.7%
5.3%
-0.3% 0.0% 0.3%
-4.0% -2.3%
-0.4%
0.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13*
City Schools
4.2%
4.0% 6.3%
1.5%
3.3% 4.2%
4.1%
5.5%
3.9% 3.1%
-4.2%
1.4%
11.6%
10.8%
-0.5%
1.6%
5.4% 3.5%
1.2%
2.7%
5.3%
-0.3% 0.0% 0.3%
-4.0% -2.3%
-0.4%
0.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13*
City Schools
REVENUE (City Funding)
FY2000 24.6%
FY2013 19.6%
ACHIEVEMENTS
• Since 2005, the number of middle school students enrolled in advanced courses has increased by 100%
• Since 2008, advanced placement enrollment has increased by 395%
• The on-time graduation rate has increased by 7.47 % since 2004 to 70.5%
• The number of fully accredited schools has jumped from 19% in 2002-03 to 90% in 2011-12
• Since the 2008-2009 school year, the number of advanced placement courses offered increased by 62%
REVENUE (City Funding)
ACHIEVEMENTS
• Four Richmond schools have been named National Blue Ribbon Schools by the U.S. Department of Education (USDOE), the highest recognition a school can receive
• The number of students receiving industry certifications has climbed from 481 in 2009 to 539 in 2010, an 11% increase
• Richmond Community and Open high schools have been ranked among America’s best by US News and World Report four years in a row
FY2000 24.6%
FY2013 19.6%