Agenda Item
Meeting Date:
6/3/2021 - 5:00 PM  
Category:
Consent Calendar  
Type:
Action  
Subject:
FY 2021 Final Budget Year-end Projection  
ACPS 2025 Strategic Plan Goal:
Goal 4: Strategic Resource Allocation
ACPS will strategically provide differentiated resources and supports to schools and departments.
 
Policy:
DB - Annual Budget  
Funding Source or Fiscal Impact (where applicable):
 
File Attachment:
FY 2021 Final Operating Fund Year End Projection.pdf
210603_Memo_FY2021_CF_Yearend_Projection_v1.pdf
 
Agenda Item Summary:
Fiscal year-end projections for the Operating Fund, as well as the other Combined Funds, project a sufficient available balance of funds to support granting a 2.5% bonus to all eligible employees as of May 28, 2021  
Background:
During FY 2021 Final Budget Adoption, ACPS took the unprecedented step to significantly modify the budget on May 8, 2020 due to the projected financial outlook and impact to ACPS operations as a result of the nation’s reaction to the COVID-19 pandemic. A major revision to the FY 2021 Budget was the elimination of Employee step increases and the elimination of a 2.0 percent one-time bonus.

During a Budget Work Session, on May 27, 2021, a FY 2021 Year-end Projection was presented. The projection, which factored in actual spending through April 2021 and projected spending through June 30, 2021-the fiscal year-end. According to the projection, staff, through the Superintendent, presented a recommendation to the School Board to grant all eligible employees, as of May 28, 2021, a 2.5 percent bonus to be paid on June 30, 2021.
 
Recommendation
The Superintendent recommends that the School Board reviews this information.  
Approvals:
Recommended By:
Signed By:
Dominic Turner - Chief Financial Officer
Signed By:  
Dr. Gregory C. Hutchings, Jr. - Superintendent