The Budget Commission met yesterday to review a number of issues – the following are the highlights:
- $6 million in additional revenue based on the revised property tax digest.
- 38 additional teachers, with a cost of $3.2 million added to the budget.
- Class size waiver still remains at +5, but administration plans on average class size of 24 for Elementary Schools and 30 for Middle and High Schools.
- $750 thousand of additional funds for Charter Schools due to the increase in property taxes.
- Administration offered up $750 thousand in personnel cuts – $500 thousand from existing vacancies in Finance, Operations and IT and $250 thousand in cuts in Curriculum & Instruction.
- Atlanta Beltline payment of $8 million to APS is being taken out of the revenue budget as its payment is seriously in doubt.
- Deficit increased from $21.5 million to at least $26.7 million.
- General Fund reserve at the end of FY14 down to $42.8 million – nearing the $41 million critical threshold.
- Budget Commission instructs administration to propose an additional $1.3 million in cuts at next meeting. The Commission wants multiple options – previous ones presented can be included (additional furlough days, outsourcing custodians, etc.), but they want new ones as well.
- There remains a significant risk to the revenue projection as the $6 million sale of property to AIS may not occur.
I will review each of these items in more detail in a subsequent post.