Minutes 04/28/1986 - Laserfiche WebLink

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,60 MONDAY, APRIL 28, 1986 _ The $146 transitional payment included in the Basic Aid will be made to all school divisions regardless of the salary increase for teachers; however, the mandate must be fully met in 1987-88 either by providing a true ten percent increase or meeting one of the alter- natives acceptable to the state. As noted in Supplementary Attachment #2, in comparison with area school divisions our base salary for beginning teachers falls far below the majority of them even with a ten percent increase in salary. _ Also, each of these school divisions, with the exception of Martins- ville, pays the employee's share (5%) of the VSRS annual charge as our City does for its employees. This fact is not reflected in these starting salaries. ATTACHMENT E: Anticipated revenues for 1985-86 have been updated. _ The actual revenues from all sources finally received for 1985-86 will be less than anticipated primarily due to enrollment loss and reduction in the state share for VSRS, FICA, and insurance. _ These revenue projections are for all revenues received in conjunc- tion with the operation of the school division including tuition, textbook rental, adult education, rental of school property, and sale of school buses. _ The anticipated total revenue for 1985-86 at this time is $19,449.00 short of the original projection. Projected revenues for the 1986-87 budget have been updated. _ Our school division is in fact being penalized for having exceeded the minimal effort set by the state. _ The total estimated loss in revenue for 1986-87 will be $180,000- $200,000, which does not include reduction in Basic Aid due to de- creased enrollment ($87,000). _ Revenues from the state and federal governments have not been at the levels anticipated for the following reasons: a. The continuing decline in enrollment will reduce our Basic Aid by an estimated $87,000. b. The enrollment loss categorical reimbursement has been eliminated. c. The state categorical aid for incentive achievement has been eliminated. d. The state categorical aid for the gifted and talented has been included in the Basic reimbursement. e. Vocational funds have been reduced 8% by the state and 4% by Congress. f. The reimbursement for Special Education has been reduced 34% (about $40,000.00). g. The reduced caps on the state's share of fringe benefit costs (retirement, social security, and life insurance) along with the cap on the number of personnel covered by the state penalize our small school division severely. ATTACHMENT F: The status of the anticipated expenditures in the 1985-86 school budget has been revised. _ The actual expenditures for 1985-86 are now projected to be $129,000.00 less than budgeted. The difference is the result of unexpected savings primarily in per- sonnel and fuel.