public schools of petoskey
DESCRIPTION
Public Schools of Petoskey. Budget Update and Outlook February 5, 2003. At Risk. Original Budget: $262,385 Pro-rated for Added Schools:($ 10,132) 3.8% Reduction of Original: ($ 9,971) Amount Budgeted:$242,282 Amount Spent YTD: $242,282. State Aid. - PowerPoint PPT PresentationTRANSCRIPT
Public Schools of Petoskey
Budget Update and OutlookFebruary 5, 2003
At Risk Original Budget: $262,385 Pro-rated for Added Schools: ($ 10,132) 3.8% Reduction of Original: ($
9,971)Amount Budgeted: $242,282
Amount Spent YTD: $242,282
State Aid Amount Subject to Proration (Sec. 22b)
$4,958,193
Proration Percentage: 3.8%
Est. Revenue Loss this Year: $ 188,411
FY 2003-04 Budget
FY 2003-04 Budget State General Fund short $2 Billion State School Aid Fund Short $366 Million State General Fund contributes $198
Million to School Aid Fund. Governor has indicated the need for
across the board GF cuts to alleviate the shortfall.
Bottom Line: 11% Reduction next year
State Aid FY 2003-04 Amount Subject to Proration (Sec. 22b)
$4,958,193
Proration Percentage: 11.0%
Est. Revenue Loss: $ 545,401
FY 2003-04 Cost Increases Step Increases alone: $173,884 Retirement Rate to 15%: $286,284 Health Increase 20%: $515,746
Total Cost Increases $975,914
Lost Revenue: $545,401 Next Years Budget Challenge: $1,521,315
How We Spend Our $$
Fringes51%
Transfers4%
Purchased Services24%
Supplies16%
Capital Outlay5%