Cowherd gives update on operating budget development

Fulton Public Schools Superintendent Jacque Cowherd gave the school board another update on the budget situation for the 2012-13 school year during its special meeting Wednesday night.

Cowherd started off his presentation by reminding board members that the district has seen a $2 million decrease in revenue since the 2008-09 school year, and a $1.7 million decrease in expenditures over the same time period.

He then proceeded to share with the board the revenue and expenditure assumptions FPS administrators are making as they develop the Fiscal Year 2013 budget.

Among the revenue assumptions is a decrease in formula-weighted Average Daily Attendance (WADA) — on which state funding is based — from 2,104 students for FY 2012 to 2,095 for FY 2013; a total levy increase from $4.1780 to $4.1892; a decrease in assessed valuation from $164.54 million to $164.23 million; a change in Proposition C funding from $775 per WADA of 2,097 to $380 per WADA of 2,066; a decrease in gaming revenue from $422 per ADA to $380 per ADA and a 15 percent reduction in federal revenue.

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