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FCS FY2022 Budget Update: January 29, 2021
Budget season for the Fulton County School District has begun, and we wanted to update our community about the Fiscal Year 2022 annual 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.
In December, we started the process when school allotment formulas and mid-year adjustments were approved by the Board of Education and transmitted to school leaders allowing them to begin their school-based budget development process. In January, the state initiates their budget process, and staff closely monitor and engage with state officials as they develop their funding priorities. CFO Marvin Dereef provided a report to the Board on January 21, 2021 regarding Governor Kemp’s recent proposed budget (link to Board Doc). The recommendations in this plan included increases in some areas; however, the overall economic impacts created by the COVID-19 pandemic may result in a net funding shortfall for Fulton County Schools in the upcoming fiscal year. Staff are simultaneously developing alternatives to remain flexible and react to these potential outcomes.
During March, Board members will begin a formal process for reviewing the data and receiving input from the community. At the March Board meetings, Pre-Kindergarten, Pension, Debt Service, Grants and Special Revenue Fund, and School Nutrition budget recommendations will be presented (including revenue forecasts and enrollment projections) as part of Budget Markup #1. In April, the capital budget will be presented, and Superintendent Looney will share recommendations for the general fund budget. The public is invited to attend budget hearings in April and May prior to final adoption of the FY 2022 budget in June. In keeping with our social distancing meeting protocol due to COVID-19, these hearings may be held virtually.
Public involvement provides a critical perspective for making decisions and we encourage the public to participate in the process. Below is a comprehensive list of key dates and events.
- Board Community Input (March 2021)
- Enrollment forecasting presentation (March 9, 2021)
- FY2022 Forecasted revenue/expenditure projections (March 18, 2021)
- Budget Markup #1 (March 18, 2021)
- Budget Markup #2 (April 15, 2021)
- Salary Hearing #1 (If necessary) (May 4, 2021)
- Public Budget Hearing #1 (May 4, 2021)
- Salary Hearing #2 (If necessary) (May 13, 2021)
- Public Budget Hearing #2 (May 13, 2021)
- Adoption of Tentative Budget/Tentative millage rates (May 13, 2021)
- Millage Rate Public Hearings #1 and #2 (TBD if necessary)
- Final Budget Adoption (June 8, 2021)
- Board adopts millage rates (June 2021)
Additional information will continue to be shared with internal and external stakeholders during this year’s annual budget process. Please continue to be on the lookout for further communication.