School Board Meeting Budget Update - March 6, 2018

Executive Director of Finance Patty Camery provided the School Board with an update on the FY19 budget during the Board’s meeting on March 6, 2018. Mrs. Camery reviewed anticipated revenue levels based on the Governor’s Proposed Budget as well as the budgets approved by the House of Delegates and State Senate. She also noted the local revenue that would be provided to the school division based upon the budget being advertised for a public hearing by the Frederick County Board of Supervisors.  

Mrs. Camery stated that according to the county budget being advertised for public hearing, the school division would receive $83,809,674 in local funds. Under the budget approved by the House of Delegates, the school division would face a budget shortfall of $214,391 if the Board of Supervisors proceeds with the proposed one cent real estate tax increase being advertised. Under the budget approved by the State Senate, the school division would face a budget shortfall of $741,540 if the Board of Supervisors proceeds with the proposed one cent real estate tax increase being advertised. If the proposed one cent real estate tax is not approved, the shortfall based upon the budget approved by the House of Delegates would be $784,391 while the shortfall based upon the State Senate’s budget would be $1,311,540.  

Mrs. Camery reminded the Board that the Superintendent’s Proposed Budget requested $1.4 million be transferred from the Debt Service Fund to the School Operating Fund because debt payments will decrease by $1.4 million in FY19. She noted the budget being advertised for public hearing by the Board of Supervisors doesn’t include that transfer.  

In addition, Mrs. Camery shared that the budget advertised by the Board of Supervisors does not include the additional $2.7 million requested by the Superintendent for the Capital Projects Fund. Those funds would be used to support one-time capital expenditures related to facility maintenance.