School Budget Overview

Budget Overview For 2014-15 School Year



2014-2015 School Budgets

Overview
The tables in the FY2015 school overview explain the changes from the school's FY2014 base allocations to the preliminary FY2015 Fair Student Funding allocation.

Ensuring Stability
The transition from the prior year to the current year's allocation ensures that schools are allocated the same baselined funds they received in the prior year with adjustments only for changes in the number and needs of students from the prior year. During FY2014 teacher salaries were unchanged on average from the prior year, therefore the formula for FY2015 will be based on the same teacher salary and use the same per capitas as the formula for FY2014.

Funding for new schools is based purely on the FY2015 Fair Student Formula. For continuing schools, the FY2015 FSF Initial Allocation consists of the FY2014 Base FSF Allocations with adjustments for register change, based on the school's percent of formula at the end of FY2014 (i.e., a school at 90% of formula with a register decrease will not lose the value of one full per capita, but rather, only 90% of a per capita value).

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I. FY14 Revised Base Allocations   a=b+c         $4,182,647
  FY14 TL Fair Student Funding and TL 09 C4E CTT net of one-shots*      b   $4,182,647    
  (FY14 initial Fair Student Funding allocation adjusted for register changes)            
  FY14 TL Funds Over Formula      c   $0    

II. FY15 Fair Student Funding Preliminary Allocation   d=a+f+g+h        $4,172,830
  FY14 TL Revised Base Allocations   a   $4,182,647    
  Adjustment for Register Change   f    ($9,817)    
  Adjustment for System-wide Teacher Salary Growth   g   $0    
  Foundation for New Schools   h   $0    

III. FY15 Fair Student Funding Formula at 100%   i       $5,018,575
  FY15 Initial Percent of Formula            
  [d] FY15 Fair Student Funding Preliminary Allocation - Foundation ($225,000) j= ($4,172,830 - $225,000) = $3,947,830  = 82.36%
  [i] FY15 Fair Student Funding Formula - Foundation ($225,000) ($5,018,575 - $225,000) $4,793,575 
  Note: Funds in excess of 100% are allocated in TL Funds Over Formula.          
             

IV. FY15 Initial Fair Student Funding Allocations   d       $4,172,830
  TL Fair Student Funding (HS)   $4,172,830
  TL 09 C4E CTT (HS)   $0
  TL Funds Over Formula (HS) {amount exceeding the formula}   $0

V. FY15 TL SE Transitional Funding             $41,181

VI. FY15 Current Allocations in Galaxy
Footnotes
  1. Calculations may have discrepancies due to rounding display of percentages applied.
  2. "TL" represents Tax Levy Funding.