SCHOOL BOARD APPROVES FY ‘24 BUDGET
The Spotsylvania County School Board adopted a provisional FY ‘24 budget on April 25th. This follows the County Board of Supervisors (BOS) decision on April 11th to adopt local tax rates and an overall school budget of $442.67 million (for all funds) that shall not exceed $149.56 million in local funds transfer. To balance the School Operating Fund budget ($378.53 million), the School Board agreed on reductions to the previously approved list of needs presented to the County BOS on February 28th.
Most notably, the adopted budget also funds an average 5% salary increase for all contracted staff (includes one step for teachers), a one-time retention payment of $500 for contracted staff, and an additional step for teachers who have been employed before June 30, 2014.
The adopted budget also funds critical needs such as additional para-professionals, special education staffing, English learner teachers, nursing staff, and a grant writer. Plus, the budget funds healthcare cost increases so that employees will not see an increase in their healthcare insurance costs.
Below is a summary of the FY 2024 Adopted Provisional Budget:
Fund FY’ 24 Final Amount
School Operating Funds $378,534,545
Food Service Fund $14,153,044
Capital Fund $46,538,360
Fleet Services Fund $3,443,976
FY ‘24 Grand Total $442,669,925
The adopted school budget also includes a five-year Capital Improvement Plan in the amount of $46.54 million in FY ‘24. This plan is summarized below:
Together - we prepare our students for the future.