The new budget amount is virtually unchanged from the current fiscal year.
Thursday, May 17, 2012
Updated May 18 The Gwinnett Board of Education formally adopted its fiscal year 2013 budget on Thursday (May 17) after holding a second public hearing. The events took place at the May board meeting at the Instructional Support Center in Suwanee. The spending blueprint totals $1.73 billion, virtually unchanged from the current fiscal year. However, the operating budget is down 4.8 percent percent, largely because of continued growth and also from the declining tax digest in Gwinnett County, which affects property tax revenue. Also, no federal stimulus funds were available for FY2013. The state's largest school system (163,000 for 2013) had to overcome an $89- million revenue shortfall to balance the budget. No contract personnel were let …
The state's largest school system must deal with situations that other organizations do not.
It's not just the declining property tax digest in Gwinnett County that causes budget headaches for Gwinnett County Public Schools (GCPS). The system has unique funding challenges, including its own positive reputation. For instance: For 2013, GCPS officials had to overcome an $89 million revenue shortfall to balance the budget, and for 2012, it was over $100 million. The schools use a "rolling budget" process to allow for seamless, year-to-year planning. However, Cost, the CFO, said he is not comfortable with estimating a revenue-shortfall figure for FY 2014. However, a continued decline in property tax revenue from the county is still expected, and Cost said that it still might be 2-3 years before the situation bottoms out. In the past …