DEPARTMENT: Pre-K 4 SA
DEPARTMENT HEAD: Sarah Baray, Ph.D.
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
FY 2020 Financial Report & Budget Re-Estimate and FY 2021 Annual Operating Budget
SUMMARY:
This item includes an overview of the Fiscal Year (FY) 2020 Financial Report & Budget Re-Estimate (Actuals through March with Annualized Projections) with an informational briefing on the Pre-K 4 SA FY 2020 Budget status through the current fiscal year (July through March).
Additionally, this item includes a briefing and Board work session on the development of the proposed Pre-K 4 SA FY 2021 Operating Budget. The Board will consider the proposed FY 2021 Annual Operating Budget during the May 19, 2020 Board meeting.
BACKGROUND INFORMATION:
The Board adopted a budget on April 9, 2019 for the Pre-K 4 SA fiscal year that began on July 1, 2019. Total Appropriations approved by the Board are $47,647,248. This includes funding for four Education Centers with a total enrollment of 2,000 students for the 2019-2020 school year, funding for year four of the competitive grants program and authorized 431 positions. On May 2, 2019, City Council approved the FY 2020 Pre-K 4 SA Annual Operating Budget.
As stated in the Pre-K 4 SA bylaws, an Annual Budget is required to be adopted by the Board by May 1 of each year and approved by City Council prior to the start of the new program year on July 1. Due to impacts of the COVID-19 pandemic, the timeline for budget adoption has been adjusted to allow for remote Board meetings. This work session will present projected annual budgets for the remaining year of the program maintaining current levels of services so that the Board of Directors can provide input and guidance on budget priorities for the remainder of the 8 year program budget. The proposed Annual Operating Budget for FY 2021, comprised of all funds, totals approximately $41 million. The Board will consider adoption of the proposed FY 2021 Annual Operating Budget dur...
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