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FCS Budget Update for April 29, 2022

FCS Budget Update

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The annual Fulton County Schools (FCS) budget proceedings have been underway for several months. In our efforts to continuously keep our community informed about the Fiscal Year 2023 planning process, this report is part of a series of budget updates that will occur between now and the Board’s final vote later this spring.

The proposed FY 2023 budget for the 2022-23 school year was presented at the April 14, 2022 Board meeting. Following the budget parameters previously approved by the Board of Education, the district is well positioned for long-term financial stability. 

FY2023 Budget Parameters

  • 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 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

For example, seventy-eight percent (78%) of the recommended $1.151 billion general fund budget is allocated directly to schools, which exceeds the Board parameter of 75%. The proposed budget also anticipates a reduction in the millage rate to 17.49 from 17.59, maintaining the school board’s commitment to low property taxes. A final determination and vote on the millage will happen over the summer after the tax digest is confirmed.

A full 500-page detail of the FY2023 Superintendent's Budget Recommendation can be found on the district’s Budget Services website, along with the FY23 Pencil Perspectives, School Allotment Guidelines and Budget Calendar.

This year’s recommendations also include a compensation package for all FCS employees to see a 5% salary increase from the district in two proposals during FY 2023. Salaries will go up 3% effective July 1, 2022, in addition to the state-funded $2,000 annual raise; and 2% more as well as an additional step-increase coming mid-year FY2023.

The Board will hold public hearings on the proposed budget on May 3 and May 12. A vote to adopt the budget, including the compensation plan, is scheduled for June 8.

The proposed budget is available for all stakeholders on our website, located at fultonschools.org.