FCS Budget Update for December 16, 2022

  • Budget Update
    December 2022

    Dear Fulton County Schools Community:

    As Fulton County Schools (FCS) begins its annual budget season, we pledge to remain transparent as we continuously update our community about the Fiscal Year 2024 budget planning process. The comprehensive budget development effort undertaken by the district takes several months and includes multiple steps of review, research, and community engagement. Today’s message is part of a regular series of updates to help our employees, parents, and stakeholders become familiar with key dates, milestones, and external considerations.

    The budget process began when school allotment formulas were approved by the Fulton County Board of Education and transmitted to school leaders allowing them to begin their school-based budget development process. Additionally, the Board set and approved budget parameters so the management team and staff can start budgeting for the upcoming fiscal year. The following Budget Parameters for the Fiscal Year 2024 have been approved by the Board:

    • Seek alternative funding sources
    • Continue to maximize revenue from State QBE via improving FTE count coding
    • Allocate at least 75% of General Fund to schools
    • Identify opportunities for cost efficiencies
    • Maintain a competitive compensation structure
    • To the extent possible be revenue neutral as defined by the tax rollback form
    • Maintain at least two months of fund balance
    • Continue with a transparent Modified Zero-based budgeting process
    • Continue to demonstrate sustainability related to budget recommendations
    • Provide a path to transition to less federal support (Elementary and Secondary School Emergency Relief (ESSER) Funds, etc.).

    Public involvement provides a critical perspective for making decisions and we encourage the public to participate in the process. The following proposed schedule of activities will guide budget development for the school year 2023-2024. The public is welcome at all meetings.

    Please plan to stay engaged and be on the lookout for further communication as we continue to share additional information with our community during this year’s annual budget process.

    Budget Calendar for FY2024

        •  FY 2024 School Board Budget Parameters November 17, 2022
        •  FY2023 Midyear Budget Adjustments December 14, 2022
        •  FY 2024 School Allotment Formulas and Guidelines January 8, 2023
        •  Board Community Input March 2023
        •  FY2024 Enrollment forecasting presentation March 14, 2023
        •  FY2024 Revenue forecast presentation March 23, 2023
        •  Budget Markup #1 March 23, 2023
        •  Budget Markup #2 April 13, 2023
        •  Public Budget Hearing #1 (May 3, 2022) May 9, 2023
        •  Salary Hearing #1 May 9, 2023
        •  Public Budget Hearing #2 May 18, 2023
        •  Salary Hearing #2 (if necessary) May 18, 2023
        •  Adoption of Tentative Budget/Tentative millage rates May 18, 2023
        •  Board Adopts Final Budget June 6, 2023
        •  Millage Rate Adoption Schedule TBD

    More information about the about the budget process is available on the FCS website www.fultonschools.org/budgetservices and will be updated as the process moves forward. Please check back regularly and contact us if you have any questions.

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