[A. CALL TO ORDER]
[00:00:06]
EVENING EVERYONE. I WILL NOW CALL TO ORDER OUR SPECIAL CALLED MEETING FOR THE PURPOSE OF HOLDING THE SECOND OF TWO REQUIRED BUDGET HEARINGS AT 6:30 P.M. AND I WILL NOW TURN
[B. Budget Hearing]
IT OVER TO YOU, DOCTOR PACE. THANK YOU, MADAM CHAIR, AND MEMBERS OF THE BOARD, TO OUR COMMUNITY WHO HAS JOINED US HERE, WHO HAS JOINED US HERE, OR THAT ARE TUNING IN ONLINE. I WELCOME YOU TO THE SECOND OF TWO REQUIRED BUDGET HEARINGS. I WOULD LIKE TO INVITE MRS. SHAMIKA CLAY, THE CHIEF FINANCIAL OFFICER OF HENRY COUNTY SCHOOLS, TO THE PODIUM TO FACILITATE THE BUDGET HEARING. MRS. CLAY. GOOD EVENING, MADAM CHAIR. MEMBERS OF THE BOARD AND DOCTOR PACE. IN TODAY'S HEARING, I'LL PROVIDE AN OVERVIEW OF THE SUPERINTENDENT'S FINAL BUDGET RECOMMENDATION FOR FISCAL YEAR 2027. AS HAS BECOME PRACTICE, I'LL START WITH A REVIEW OF THE DISTINCT FUNDS THAT ARE INCLUDED IN THE SUPERINTENDENT'S RECOMMENDATION. PER POLICY, THE BOARD TAKES ACTION ON THESE AGGREGATE FUNDS ANNUALLY DURING BUDGET ADOPTION. THE FIRST OF THE FOUR FUNDS IS THE GENERAL FUND, WHICH IS THE ACCOUNT USED FOR OUR DAILY OPERATIONS LIKE SALARIES, INSTRUCTIONAL SUPPLIES AND MAINTENANCE COSTS. NEXT IS THE SPECIAL REVENUE FUND, WHICH ACCOUNTS FOR THE GRANTS GIVEN TO HENRY COUNTY SCHOOLS FOR DESIGNATED AND SUPPLEMENTAL PURPOSES. THE SPECIAL REVENUE FUND ALSO INCLUDES THE FINANCIALS ASSOCIATED WITH OUR SCHOOL NUTRITION AND AFTER SCHOOL ENRICHMENT ENTERPRISING ACTIVITIES. NEXT IS THE CAPITAL PROJECTS FUND, WHICH INCLUDES THE REVENUES AND EXPENDITURES RELATED TO CAPITAL IMPROVEMENTS AUTHORIZED BY THE BOARD. AND FINALLY, THERE'S THE DEBT SERVICE FUND, WHICH CAPTURES THE REVENUE AND EXPENSES ASSOCIATED WITH LONG TERM DEBT INCURRED TO FINANCE CAPITAL PROJECTS. THESE DISCRETE FUNDS, WHICH ARE REQUIRED BY GOVERNMENTAL ACCOUNTING STANDARDS, ALLOW SEPARATE TRACKING OF REVENUE AND EXPENSES TO ENSURE PUBLIC RESOURCES ARE ALIGNED TOWARDS INTENDED PURPOSES. THE FY 27 BUDGET CYCLE FORMALLY LAUNCHED IN DECEMBER WITH THE PUBLISHING OF THE BUDGET CALENDAR. THE 2026 STATE LEGISLATIVE SESSION KICKED OFF IN JANUARY, AND OUR DISTRICT ENROLLMENT FORECASTING PROCESSES WERE COMPLETED. THE BOARD SHARED PRIORITIES AROUND ENSURING RESPONSIBLE AND SUSTAINABLE INVESTMENTS IN EMPLOYEES. INSTRUCTIONAL RESOURCES AND LEARNING ENVIRONMENTS WERE PUBLICLY SHARED AS WELL. WITH CLARITY OF PRIORITIES, THE FINANCE TEAM MONITORED THE STATE LEGISLATIVE SESSION AND MET WITH LOCAL OFFICIALS TO SUPPORT DEVELOPMENT OF A PRELIMINARY BUDGET, THE LEGISLATIVE DYNAMICS AND LOCAL ECONOMIC TRENDS OBSERVED IN FEBRUARY AND MARCH LED TO THE RECOMMENDATION TO SHIFT THE BUDGET CALENDAR BY ONE MONTH, RESULTING IN THE PRESENTATION OF THE BUDGET OVERVIEW IN THE APRIL BOARD MEETING AND TENTATIVE ADOPTION OF THE SUPERINTENDENT'S BUDGET RECOMMENDATIONS IN MAY. FOLLOWING THE FIRST OF THE TWO REQUIRED BUDGET HEARINGS SINCE LAST MONTH'S TENTATIVE ADOPTION, WE HAVE RECEIVED INFORMATION FROM THE STATE REGARDING OUR FY 27 ALLOCATION, AND WE HAVE IDENTIFIED ADDITIONAL TRANSPORTATION EXPENDITURE CONSIDERATIONS FOR THE GENERAL FUND. WE WILL REVIEW THE DETAILS OF THE CHANGES AS WE PROCEED THROUGH THE SLIDES. THE FORECAST FOR THE SPECIAL REVENUE CAPITAL PROJECTS AND DEBT SERVICE FUNDS ARE CONSISTENT WITH THE TENTATIVELY ADOPTED BUDGET, BUT WE WILL PROVIDE AN OVERVIEW OF THE PLANNED BUDGETS FOR THESE FUNDS. FOR THE BENEFIT OF THIS HEARING, WE WILL START OUR REVIEW WITH THE GENERAL OPERATING BUDGET, WHICH IS THE HOME OF OUR DAILY OPERATIONS BOARD. YOUR SHARED PRIORITIES, WHICH ARE LISTED ON THE LEFT OF THE SLIDE, WERE INCORPORATED INTO THE SUPERINTENDENT'S RECOMMENDATIONS. YOU DESIRED THAT OUR FUNDS BE ALLOCATED TO ENSURE SUSTAINABILITY AND CONTINUITY OF THE GREAT WORK THAT HAS BEEN ACCOMPLISHED THE PAST SEVERAL YEARS. OVER THE PAST FIVE YEARS, THIS BOARD HAS INVESTED TO SUPPORT THE RECRUITMENT AND RETENTION OF HIGH QUALITY STAFF, SIGNIFICANTLY INCREASING COMPENSATION WHILE NAVIGATING STATE MANDATED BENEFIT INCREASES, INVESTED IN ACCESS TO HIGH QUALITY CURRICULUM AND EQUIPMENT, ESPECIALLY IN THE AREAS OF SCIENCE, TECHNOLOGY, ENGINEERING, MATH AND ENGLISH LANGUAGE ARTS. INVESTED TO HIRE STAFF FOR STEM WORLD LANGUAGES AND ORCHESTRA PROGRAMS, CALLED FOR BY OUR COMMUNITY AND INVESTED TO HIRE STAFF TO SUPPORT THE MENTAL HEALTH AND SAFETY OF STUDENTS AND EMPLOYEES OF THE SCHOOL SYSTEM. A BUDGET IS A FISCAL ARTICULATION OF PRIORITIES, AND THE BOARD OF EDUCATION HAS BEEN CONSISTENT IN PRIORITIZING INVESTMENTS THAT PROVIDE ACCESS, OPPORTUNITIES AND OUTCOMES FOR THE STUDENTS OF HENRY COUNTY SCHOOLS. WITH CLARITY OF PRIORITIES, WE WILL REVIEW REVENUE NEXT AS THIS WAS A KEY COMPONENT IN UNDERSTANDING OVERALL BUDGETARY CONSTRAINTS. OUR REVENUE FORECAST IMPROVED BY $3.7 MILLION FROM THE TENTATIVELY ADOPTED BUDGET, AND THIS IS SOLELY DUE TO AN IMPROVED OUTLOOK OF THE STATE REVENUE FORECAST ACROSS STATE, LOCAL AND FEDERAL SOURCES. WE ARE NOW ANTICIPATING YEAR OVER YEAR REVENUE GROWTH OF $11.2 MILLION VERSUS THE 7.4 MILLION SHARED LAST MONTH, FOCUSING FIRST ON STATE REVENUES, WHICH ARE SHOWN ON THE BOTTOM LEFT OF THE SLIDE, WE NOW ANTICIPATE AN INCREASE OF $12.9 MILLION YEAR OVER YEAR IN CONSIDERATION OF THE QBE ALLOCATION GUIDANCE[00:05:05]
WE'VE RECEIVED FROM THE STATE, THE $3.7 MILLION IMPROVEMENT FROM OUR INITIAL FORECAST IS ATTRIBUTABLE TO FTE COUNT IMPROVEMENTS AND NEW FUNDING AUTHORIZED BY THE LEGISLATURE TO SUPPORT LITERACY WITHIN ELEMENTARY SCHOOLS WITH GRADES K THROUGH THREE, THE LOCAL FORECAST REMAINS UNCHANGED. WE ANTICIPATE A DECLINE OF $1.4 MILLION YEAR OVER YEAR, DRIVEN BY THE ASSUMPTION OF DIGEST CONTRACTION OF NO MORE THAN -1% IN THE LOCAL TAX DIGEST. THIS ASSUMPTION WILL REMAIN UNLESS REVISION IS WARRANTED. WHEN THE FINALIZED TAX DIGEST IS RECEIVED FROM THE ASSESSOR'S OFFICE IN JULY. WITH THE UNDERSTANDING OF NEW FUNDING AVAILABLE TO SUPPORT INVESTMENTS, LET'S NOW REVIEW THE INVESTMENTS THAT HAVE BEEN PRIORITIZED THIS BUDGET CYCLE. WE WILL START WITH INVESTMENTS DRIVEN BY STATE LEGISLATION, WHICH IS THE FIRST GROUP OF EXPENDITURES SHOWN ON THE SLIDE IMPLEMENTING THE STATE MANDATED INCREASES FOR HEALTH CARE COSTS, AND THE TRS CONTRIBUTION RATE IS ESTIMATED TO RESULT IN INCREASED EXPENDITURES YEAR OVER YEAR OF $4.2 MILLION. THE NEXT GROUPING OF EXPENDITURES OUTLINES INVESTMENTS OF $6.1 MILLION. CONNECTED WITH THIS BOARD'S UNITED PRIORITIES AROUND INVESTING IN STAFF AND RESOURCES. REGARDING COMPENSATION IMPROVEMENTS, THE SUPERINTENDENT HAS RECOMMENDED ALLOCATION OF $3.5 MILLION TO PROVIDE THE MONETARY INCREASE ASSOCIATED WITH STEP PROGRESSIONS WITHIN OUR CURRENT SALARY SCALES. ADDITIONALLY, INVESTMENTS OF $2.6 MILLION HAVE BEEN IDENTIFIED TO PROVIDE THE STAFFING AND RESOURCES NEEDED FOR STRATEGIC PLAN IMPLEMENTATION, AS WELL AS THE ANTICIPATED OPENING OF WOLF CREEK ELEMENTARY AND THE STEM HIGH SCHOOL IN AUGUST OF 2027. THE LAST GROUPING OF EXPENDITURES, WHICH TOTALS $7.5 MILLION, RELATES TO INVESTMENTS NECESSARY TO SUSTAIN ACADEMIC ENVIRONMENTS AND GENERAL OPERATIONS. JUST LIKE HOUSEHOLDS, THE SCHOOL SYSTEM IS EXPERIENCING INCREASES IN THE COST OF EVERYDAY ITEMS INSURANCE, FUEL FOR BUSSES AND UTILITIES. ADDITIONALLY, WE ARE EXPERIENCING INCREASING COSTS TO PROVIDE SUPPORT SERVICES TO STUDENTS WHILE SIMULTANEOUSLY SEEING A DECREASE IN FEDERAL GRANT AWARDS. SINCE TENTATIVE ADOPTION, WE DETERMINED AN ADDITIONAL $257,000 WAS NEEDED TO SUPPORT TRANSPORTATION OF STUDENTS TO ACADEMIC FIELD TRIPS AND ATHLETIC EVENTS. TOTAL PRIORITIZED INVESTMENTS TOTALED $17.8 MILLION NOW, VERSUS THE 17.5 MILLION TENTATIVELY ADOPTED IN MAY.GIVEN THE PRIORITIZED INVESTMENTS CONTINUE TO EXCEED THE REVENUE GROWTH FORECAST OF 11.2 MILLION, WE CONTINUE TO RECOMMEND ACADEMIC AND OPERATIONAL ADJUSTMENTS OF $14.2 MILLION TO SUPPORT THE PRIORITIZATION OF THESE INVESTMENTS IN STEM, USE OF THE RESERVED FUNDS IN CONSIDERATION OF THE PRIORITIZED INVESTMENTS AND ADJUSTMENTS. THE ANTICIPATED FY 27 EXPENSE FORECAST TOTALS $600.3 MILLION. TOTAL EXPENDITURES EXCEED FORECASTED REVENUES BY $20.7 MILLION AND WILL RESULT IN USE OF THE FUND BALANCE FOR FY 27, WHICH IS AN IMPROVEMENT FROM THE TENTATIVELY ADOPTED BUDGET. THE FORECASTED LANDING OF THE FUND BALANCE AT JUNE 30TH, 2027 IS NOW 19.3% OF EXPENDITURES. AS JUST SHARED, THE SUPERINTENDENT'S RECOMMENDATION FOR GENERAL FUND EXPENDITURES FOR FY 27 TOTAL $600.3 MILLION, WHICH YIELDS A PER STUDENT EXPENDITURE OF $14,492 PER STUDENT. THE SUPERINTENDENT'S BUDGET RECOMMENDATION CONTINUES OUR SYSTEMS PERSISTENCE IN PUTTING RESOURCES CLOSE TO STUDENTS, WITH 97% OF FUNDS ALIGNED TO TEACHING, LEARNING, ENVIRONMENT, MAINTENANCE, SAFETY, AND STUDENT TRANSPORTATION. THIS IS A STATISTIC AND VISUAL WE ARE PROUD TO SHARE EVERY BUDGET SEASON, BUT THERE IS AN OPPORTUNITY TO DECONSTRUCT THIS INFORMATION FURTHER TO HELP OUR STAFF AND COMMUNITY UNDERSTAND WHAT THIS TRULY MEANS. SO LET'S REVIEW THE FUNCTIONAL SUMMARY A BIT DEEPER. AT THE FAR LEFT OF THE SLIDE, YOU SEE THE BUDGET DOCUMENT THE BOARD TAKES ACTION ON ANNUALLY WHEN IT ADOPTS A BUDGET. THE FIRST COLUMN OUTLINES THE FUNCTIONAL CATEGORIZATION OF REVENUES AND EXPENSES. THE FUNCTIONAL CATEGORIES ARE PRESCRIBED BY THE GEORGIA DEPARTMENT OF EDUCATION, WHICH SUPPORTS THEIR ANNUAL DATA COLLECTION OF BUDGET AND FINANCIAL INFORMATION OF GEORGIA SCHOOL SYSTEMS. THE SECOND COLUMN OF THE DOCUMENT OUTLINES THE GENERAL FUND BUDGET, SPECIFICALLY MOVING TO THE FIRST COLUMN IN THE SLIDE, I HAVE ORGANIZED THE GENERAL FUNDS EXPENSES PER THE BUDGET DOCUMENT, INTO THE CATEGORIES OF THE PRIOR SLIDE OF TEACHING AND LEARNING, MAINTAINING AND SECURING LEARNING ENVIRONMENTS AND STUDENT TRANSPORTATION, AND THE SUBSEQUENT COLUMNS. THE CONSTRUCT OF HOW STATE, LOCAL, AND FEDERAL REVENUES SUPPORT THESE EXPENSES IS PROVIDED. SO LOOKING FIRST AT THE CATEGORY OF TEACHING AND LEARNING AND SPECIFICALLY HIGHLIGHTING THE FUNCTIONS OF INSTRUCTION, PUPIL SERVICES AND SCHOOL ADMINISTRATION INSTRUCTION IS A FAIRLY INTUITIVE TITLE. SO YOU CAN IMAGINE THAT THIS IS WHERE WE ACCUMULATE COSTS ASSOCIATED WITH STAFF LIKE OUR TEACHERS, PARAPROFESSIONALS, SUBSTITUTE TEACHING SERVICES AND THE LIKE, AS WELL AS COSTS ASSOCIATED WITH PHYSICAL AND DIGITAL RESOURCES. WE PURCHASE IN SUPPORT OF INSTRUCTION. PUPIL SERVICES ACCUMULATES COSTS FOR MATERIALS AND STAFF LIKE COUNSELORS, SOCIAL WORKERS, PSYCHOLOGISTS, NURSES, CLINIC
[00:10:01]
AIDES, AND MENTAL HEALTH AND WELLNESS FACILITATORS. AND FINALLY, THE SCHOOL ADMINISTRATIVE FUNCTION CAPTURES COSTS OF STAFF LIKE PRINCIPALS, ASSISTANT PRINCIPALS AND SCHOOL CLERICAL STAFF, AND ANY SUPPLIES AND SERVICES RELATED TO THE DAILY FUNCTIONS OF A SCHOOL BUILDING. YOU'LL NOTE THAT THE STATE AND LOCAL FUNDING ARE ALMOST EVEN IN TERMS OF CONTRIBUTIONS TO THE FUNCTION OF TEACHING AND LEARNING. THE LOCAL DOLLARS SUPPORT COMPETITIVE COMPENSATION BEYOND THE STATE SALARY SCALE TO RECRUIT AND RETAIN HIGHLY EFFECTIVE STAFF. FOR EXAMPLE, HIS ENTRY SALARY FOR T4 TEACHERS IS $53,910, COMPARED TO THE STATE SALARY OF $43,592. THAT RESULTS IN A LOCAL SUPPLEMENT OF $10,318 FOR EVERY EMPLOYEE THAT'S A TEACHER. LOCAL REVENUES ALSO SUPPORT THE HIRING OF STAFF BEYOND THE STATE'S FORMULA EARNINGS. FOR EXAMPLE, IN FY 26, WE EARNED 95 COUNCILORS AND 72 ASSISTANT PRINCIPALS, PER THE QBE FORMULA. HOWEVER, THIS BOARD IS COMMITTED TO ENSURING OUR LEARNING ENVIRONMENTS ARE SUPPORTIVE AND THUS AUTHORIZES FUNDING THAT ALLOWS FOR THE EMPLOYMENT OF 123 COUNSELORS AND 112 ASSISTANT PRINCIPALS. ADDITIONALLY, LOCAL FUNDS PROVIDE 100% OF THE FUNDING REQUIRED FOR CLASSIFIED STAFF'S CONTRIBUTIONS TO HEALTH AND RETIREMENT BENEFITS, AS THE STATE ONLY PROVIDES FUNDING FOR SOME EARNED CERTIFIED POSITION COUNTS. THE MAINTENANCE AND OPERATIONS FUNCTION CAPTURES COSTS ASSOCIATED WITH PERSONNEL, SERVICE PROVIDERS AND MATERIALS NEEDED TO KEEP OUR FACILITIES IN GOOD CONDITION. THE SAFETY AND SECURITY FUNCTION WAS INTRODUCED BY THE STATE A FEW YEARS AGO, WHEN IT STARTED TO PROVIDE GRANT FUNDING, AND IS LARGELY COMPRISED OF THE COSTS ASSOCIATED WITH THE SRO PROGRAM, OUR CAMPUS SAFETY MONITORS AND OTHER SAFETY MATTERS. LASTLY, THERE'S THE COSTS ASSOCIATED WITH PROVIDING STUDENTS TRANSPORTATION TO SCHOOL AND RELATED EXTRACURRICULAR PROGRAMING. EXAMPLES OF THE TYPES OF PERSONNEL COSTS CAPTURED HERE INCLUDE BUS DRIVERS, BUS MONITORS, AND MECHANICS. SPENDING RELATED TO TRANSPORTATION EFFORTS SUCH AS FUEL INSURANCE AND REPLACEMENT PARTS ARE CAPTURED WITHIN THIS FUNCTION AS WELL. AS YOU CAN SEE, THE LOCAL DOLLAR PROVIDES MAJORITY SUPPORT ACROSS THESE FUNCTIONS, 74% OF THE FUNDS NECESSARY TO ENSURE DAILY MAINTENANCE AND SECURITY OF OUR LEARNING ENVIRONMENTS ARE LOCALLY DERIVED. LOCAL FUNDS CONTRIBUTE 79% OF THE EXPENSES ASSOCIATED WITH STUDENT TRANSPORTATION. NOW LET'S ZOOM BACK OUT TO THE BROADER PICTURE. IN THE TABLE, YOU CAN SEE THE ACTUAL AND ANTICIPATED FUNCTIONAL SUMMARY OF EXPENSES FOR THE PAST FOUR BUDGET CYCLES, ALONGSIDE THE RECOMMENDED FY 27 CONSTRUCT. OUR ORGANIZATION HAS HAD A PRACTICE OF CONSISTENTLY ALLOCATING 97% OF AVAILABLE FUNDS TO THE OBJECTIVES OF TEACHING, LEARNING, ENVIRONMENT, MAINTENANCE, SAFETY, AND STUDENT TRANSPORTATION. ANOTHER CONSTANT IS THAT 92% OF OUR EXPENSES RELATE TO PEOPLE. BECAUSE EDUCATION IS A PEOPLE CENTERED PRACTICE. HENRY COUNTY SCHOOLS IS THE LARGEST EMPLOYER OF THE COUNTY, AND OUR STAFF DRIVE, FEED, TEACH, CORRECT, COACH AND SUPPORT STUDENTS DAILY, OR PROVIDE THE CENTRALIZED SUPPORT SERVICES FOR SCHOOLS TO OPERATE. AND WHEN WE CONSIDER THESE CENTRALIZED SUPPORTS, I CAN SHARE THAT OUR SYSTEM IS EFFICIENT IN THE DEPLOYMENT OF THESE FUNDS AND REVIEW OF THE MOST RECENTLY AVAILABLE DATA COLLECTION FROM THE DOE OF THE TOP TEN PUBLIC SCHOOL SYSTEMS IN GEORGIA. HENRY COUNTY SCHOOLS IS ONE OF THREE SCHOOL SYSTEMS THAT HAS GENERAL AND ADMINISTRATIVE COSTS OF 3% OR LESS. OUR EXPENSES PER STUDENT ARE LESS THAN EIGHT OF THE OTHER SYSTEMS, WHICH IS A LARGE CONTRIBUTOR TO OUR SYSTEM. ACHIEVING FOUR STARS ON GEORGIA'S FINANCIAL EFFICIENCY STAR RATING SYSTEM, WHICH CONSIDERS THE EXPENSES OF A SCHOOL SYSTEM IN RELATION TO ITS ACADEMIC ACCOUNTABILITY DATA. WRAPPING UP OUR REVIEW OF THE GENERAL FUND, WE WILL NOW REVIEW THE OTHER FUNDS ADOPTED BY THE BOARD. I'LL START WITH A REVIEW OF SPECIAL REVENUES. AS A REMINDER, THE SPECIAL REVENUE FUND IS COMPRISED OF FUNDING RELATED TO DIRECT GRANTS, WHICH MAY OPERATE ON A REIMBURSEMENT BASIS, ENTERPRISE ACTIVITY AND SCHOOL BASED ACCOUNTING ACTIVITY. IF YOU LOOK AT THE COLUMN FURTHEST TO THE RIGHT, YOU CAN SEE WE ANTICIPATE AVAILABILITY OF $59.4 MILLION IN FUNDING TO ADDRESS THE SPECIFIC NEEDS AND PROGRAMING DEFINED PER SOURCE OF FUNDS. REVENUE IS SLIGHTLY UP COMPARED TO THE PRIOR YEAR, BUT THE FORECAST OF EXPENDITURES TOTALING $62.6 MILLION EXCEEDS THIS FUNDING AND WILL REQUIRE USE OF RESERVED FUNDS WITHIN SPECIAL REVENUES. THE LAST TWO FUNDS WE WILL REVIEW ARE THE CAPITAL PROJECTS FUND AND THE DEBT SERVICE FUND. REGARDING CAPITAL PROJECTS, WE'VE EXPENDED THE BOND PROCEEDS THAT ALLOWED FOR FORWARD FUNDING OF PROJECTS BUT ANTICIPATED ACCUMULATED INTEREST. BUT WE ANTICIPATE ACCUMULATED INTEREST FROM THE PROCEEDS OF $1.4 MILLION WILL BE AVAILABLE IN FY 27 TO CONTRIBUTE TOWARDS OUR EXPENSES. THE REMAINDER OF THE FUNDS NEEDED TO COVER THE FORECAST OF $105.2 MILLION OF COSTS WILL COME FROM EAST LOS PENNIES THAT HAVE BEEN COLLECTED OR WILL BE COLLECTED DURING FY 27. THE DEBT SERVICE FUND ACCOUNTS FOR THE TAX PROCEEDS THAT ARE EXPLICITLY DEDICATED FOR THE REPAYMENT OF DEBT HELD BY HENRY COUNTY SCHOOLS. WE FORECAST COLLECTIONS OF $90.9 MILLION IN. THE DEBT SERVICE SCHEDULE REQUIRES $41.7 MILLION OF REPAYMENTS. ADDITIONALLY, IN ALIGNMENT WITH THE BOND STRUCTURE, IT IS NOTED THAT WE[00:15:04]
ANTICIPATE $60.4 MILLION OF SURPLUS FUNDS COLLECTED FOR PAY AS YOU GO WILL BE TRANSFERRED TO ENSURE THE CAPITAL PROJECTS FUND HAS THE NECESSARY RESOURCES TO ACCOMPLISH ITS OBJECTIVES. OBJECTIVES, THE. WITH THE REVIEW OF ALL FUNDS COMPLETE, WE'LL REVIEW HIGHLIGHTS OF THE SUPERINTENDENT'S FY 27 BUDGET RECOMMENDATION, WHICH INCORPORATES RESPONSIBLE INVESTMENTS AND COMPENSATION AND HIGH QUALITY INSTRUCTION AND SUPPORT SERVICES. REGARDING COMPENSATION, WE MUST INGEST STATE MANDATED INCREASES, WHICH SUPPORTS EMPLOYEES HEALTH AND RETIREMENT BENEFITS. IT IS RECOMMENDED TO SUSTAIN THE ADOPTED SALARY SCHEDULES AND HONOR SALARY STEPS FOR ELIGIBLE EMPLOYEES, AND TO MONITOR ECONOMIC AND LEGISLATIVE CONDITIONS TO EVALUATE ADDITIONAL COMPENSATION OPPORTUNITIES LATER. DURING FY 27, THERE ARE NINE NEW POSITIONS RECOMMENDATIONS FOR FY 27, WHICH INCLUDE THE ADDITION OF AN ORCHESTRA TEACHER TO COMPLETE THE BOARD'S STRATEGIC PLAN, INVESTMENTS THAT ENSURE ACCESS TO ORCHESTRA AT EVERY MIDDLE AND HIGH SCHOOL.THE ADDITION OF A CLINIC AIDE FOR A CAMPUS LOCATION, THE ADDITION OF THE START UP STAFF REQUIRED FOR THE LAUNCH OF WOLF CREEK ELEMENTARY AND THE STEM HIGH SCHOOL, AND THE ADDITION OF A SAFETY STAFF MEMBER. BEYOND POSITIONS, THE BUDGET SUPPORTS THE ACQUISITION OF RESOURCES FOR CAMPUSES THAT WILL COME ONLINE IN FY 28 AND THE SUSTAINMENT OF PRIORITIZED INSTRUCTIONAL AND WELLNESS INVESTMENTS. AS I CONCLUDE, I WOULD LIKE TO COMMEND THIS BOARD FOR YOUR UNIFIED GOVERNANCE AND FISCAL STEWARDSHIP. THIS EVENING, YOU WILL HAVE THE OPPORTUNITY TO TAKE FINAL ACTION ON THE SUPERINTENDENT'S RECOMMENDED BUDGET. THE RECOMMENDATION ALIGNS TO YOUR GOVERNING COMPETENCE, ENSURING THAT OUR SYSTEM IS SET TO EMPOWER ALL STUDENTS WITH EXCEPTIONAL OPPORTUNITIES AND ACCESS THAT LEAD TO SUCCESS IN A GLOBAL SOCIETY. DOCTOR PACE, THAT CONCLUDES OUR PREPARED AND I YIELD THE FLOOR TO YOU. THANK YOU, MRS. CLAY. I WILL TURN THE FLOOR OVER TO OUR PARLIAMENTARIAN PARLIAMENTARIAN TO FACILITATE ANY PUBLIC COMMENT RELATED TO THE INFORMATION PRESENTED IN TODAY'S HEARING. THANK YOU, DOCTOR PACE. WE DO NOT HAVE ANY PARTICIPANTS FOR PUBLIC COMMENT FOR THIS BUDGET HEARING. HOWEVER, FOR THOSE VIEWING AT HOME, PUBLIC COMMENTS MAY ALSO BE SUBMITTED AT PUBLIC COMMENTS@HENRY.K12.GA.US. I'LL TURN IT BACK OVER TO YOU, DOCTOR PACE. THANK YOU. PARLIAMENTARIAN. MADAM PARLIAMENTARIAN. MADAM CHAIR, THAT CONCLUDES INFORMATION WE HAVE PREPARED FOR THE HEARING.
I YIELD THE FLOOR TO YOU. THANK YOU, DOCTOR PACE. AND THANK YOU, MRS. CLAY. WE TRULY VALUE ANYONE WHO HAS JOINED US HERE IN PERSON TODAY OR VIRTUALLY TO GAIN INFORMATION ABOUT THE RECOMMENDED BUDGET. AND WITH NO FURTHER ACTIVITY RELATED TO THIS HEARING, I WILL NOW CLOSE OUR SPECIAL CALLED MEETING AT 6:48 P.M. AND WE WILL RETURN AT
* This transcript was compiled from uncorrected Closed Captioning.