Minutes-09-26-2023 Joint Meeting with School Boards

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43 resources are needed beyond those provided by the state, and that OCS must lean more heavily on local funds. Bonnie Hauser continued the presentation. Slide #3 Fund Balance Update FY23 Beginning Balance $ 4,932,927 FY23 Ending Balance $ 3,419,757 Obligated/Assigned 347,392 FY24 Unassigned/Available $ 3,872,36.5 9.2e.2o23 lh' Vd'19dPrgYchd Balanc► 7% ENGAGE. CHALLENGE. INSPIRE. Bonnie Hauser said their fund balance is at about 7.0%, which is above the policy recommendation of 5.5%. She said they prefer to carry enough fund balance to cover one month of local and federal salaries and benefits which is about $3 million. She said that last year, OCS drew down about$1.5 million from fund balance, mostly for stipends and bonuses. She said they paid planning period stipends for teachers who gave up planning periods to cover classes, stipends for state mandated training, incentives for substitutes, and other stipends for people who went above and beyond the call of duty. She said they also provided bonuses to attract and retain bus drivers and math teachers. She said that staffing is in a better place, so the school board decided to discontinue most of those strategies. She said they also added stronger controls so the board can better monitor spending in this area. She said that if OCS needs it, they have $4.7 million in capital from county, which has not yet been committed. She said the board has committed the $43 million in capital which was given through the end of last year. Slide #4 FY 2024 Budget Decisions f1l) 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 • Introduce School autonomy through at risl�Q(� ePLSA L L E N G E. INSPIRE.