Agenda 11-02-23; 8-a - Minutes - Laserfiche WebLink

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43 1 resources are needed beyond those provided by the state, and that OCS must lean more heavily 2 on local funds. 3 4 Bonnie Hauser continued the presentation. 5 6 Slide #3 Fund `r . lance Uii let FY23 Beginning Balance $ 4,932,927 FY23 Ending Balance $ 3,419,757 Obligated/Assigned 347,392 FY24 Unassigned/Available $ 3,072,365 r �YO 7 EHGAGE. CHALLENGE. INSPIRE. 8 Bonnie Hauser said their fund balance is at about 7.0%, which is above the policy 9 recommendation of 5.5%. She said they prefer to carry enough fund balance to cover one month 10 of local and federal salaries and benefits which is about $3 million. She said that last year, OCS 11 drew down about$1.5 million from fund balance, mostly for stipends and bonuses. She said they 12 paid planning period stipends for teachers who gave up planning periods to cover classes, 13 stipends for state mandated training, incentives for substitutes, and other stipends for people who 14 went above and beyond the call of duty. She said they also provided bonuses to attract and retain 15 bus drivers and math teachers. She said that staffing is in a better place, so the school board 16 decided to discontinue most of those strategies. She said they also added stronger controls so 17 the board can better monitor spending in this area. She said that if OCS needs it, they have $4.7 18 million in capital from county, which has not yet been committed. She said the board has 19 committed the $43 million in capital which was given through the end of last year. 20 21 Slide #4 FY 2024 Budget Decisions OD Net Local Operations Budget Increase $4,213,138 $538/pp • Legislated increases in Salary&Benefits • Inflation increases for custodial&other contracts • Improved School security&nursing staff • Continue bus driver&substitute incentives • Begin transition of ESSER funding cliff • IntroduceSchool autonomy throughatdskallotme ts 22 GE. CHALLENGE. INSPIRE.