FY2024 - TENTATIVE TSHEET (as of 05-02-2023) (updated)

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Agenda Item

e. Tentative Budget/Revenue Projections and Tax Levy for FY2024 - Updated May 4, 2023

Summary: Presented by: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance
Request: It is requested that the Board of Education approve the Tentative Budget/Revenue Budget Projections and Tentative Tax Levy for FY2024.
Details: The presentation includes a summary of the estimated revenues and budgeted expenditures for the major funds including the preliminary operating general fund budget, special revenue, enterprise, capital outlay funds.
Contact: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance, 678.676.0278
Status: General Counsel approval not required.
                                                  DEKALB COUNTY SCHOOL DISTRICT
                           FY 2024 GENERAL FUND SUPERINTENDENT'S PROPOSED TENTATIVE BUDGET AS OF 5.2.23

                    GENERAL FUND BALANCE
                    FY 2024 Beginning Estimated
                                                           333,000,000
                         Available Fund Balance

                        ANTICIPATIONS                                                                                  APPROPRIATIONS
                                                                                                                                                                           Change
                                                                                          FUNCTIONS                           FY24 Proposed       FY2023 Adopted
                                                                                                                                                                    + increase/ -decrease
                                                                         INSTRUCTION                                             814,540,654          707,850,740              96,689,914
                                                                         PUPIL SERVICES                                           90,207,141          137,263,249             (47,056,108)
                                                                         IMPROVEMENT OF INSTRUCTIONAL SERVICES                    17,401,569           19,037,168              (1,635,600)
FY LOCAL REVENUE ( Est 6% tax digest growth)             872,374,994     INSTRUCTIONAL STAFF TRAINING                              1,087,907              607,149                 480,758
                                           Interest      13,600,000      EDUCATIONAL MEDIA SERVICES                               16,073,394           16,832,699                (759,305)
                                          Transfers       1,433,772      GENERAL ADMINISTRATION                                   61,960,683           44,169,350              17,791,334
                                                                         SCHOOL ADMINISTRATION                                    79,928,401           73,647,511               6,280,890
                                                                         SUPPORT SERVICES - BUSINESS                              27,098,969           18,590,759               8,508,210
                        LOCAL REVENUE SUBTOTAL           887,408,766     MAINTENANCE AND OPERATION OF PLANT SERVICES             219,852,987          180,834,143              39,018,844
                                                                         STUDENT TRANSPORTATION SERVICE                           77,375,514           83,610,283              (6,234,769)
                                                                         SUPPORT SERVICES - CENTRAL                               32,351,894           31,042,390               1,309,503
                                                                         OTHER SUPPORT SERVICES                                    3,428,743            1,897,064               1,531,680
                                                                         SCHOOL NUTRITION PROGRAM                                    335,000            1,005,000                (670,000)
FY 2024 STATE REVENUE                                     694,060,645    ENTERPRISE OPERATIONS                                        61,672              989,246                (927,574)
                                Local 5-mill Reduction   (175,655,286)   TRANSFERS & OTHER OUTLAYS                                 8,341,294            7,587,334                 753,960
                                  Austerity Reduction          0         DEBT SERVICE                                                      0                    0                       0
                                 Other State Funding       6,181,755

                        STATE REVENUE SUBTOTAL           524,587,114


                        FY2024 REVENUE TOTAL 1,411,995,880

                                                                                                              SUBTOTAL        1,450,045,822        1,324,964,085       1,450,045,822
            Anticipated Fund Balance Drawdown             38,049,942

                                                         1,450,045,822                                                                        APPROPRIATION TOTAL      1,450,045,822

                                                                                                             ENDING FY 2024 FUND BALANCE (projected)                  294,950,058