General Assembly Approved Budget in FY04 for FY06
(FY06 estimates are based an enrollment projection of 12,700)
Composite index for FY06 is .3548 (same as FY05).
General Assembly |
Increase (Decrease |
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| State Funding Source | School Operating |
approved in FY04 |
From FY05 |
||
$ |
% |
||||
| Sales Tax | 9,246,294 |
9,891,517 |
645,223 |
7.0% |
|
| Basic Aid | 31,543,897 |
32,072,623 |
528,726 |
1.7% |
|
| Teacher Salary Supplement | 0 |
0 |
0 |
N/A |
(note 1) |
| Lottery | 888,923 |
901,672 |
12,749 |
1.4% |
(note 2) |
| Special Education - SOQ | 2,056,769 |
2,622,093 |
565,324 |
27.5% |
(note 3) |
| Employer Shared Benefits | 2,641,963 |
3,206,870 |
564,907 |
21.4% |
(note 4) |
| Technology Initiative | 544,000 |
544,000 |
0 |
0.0% |
|
| Other State Funds | 2,830,018 |
2,996,947 |
166,929 |
5.9% |
|
49,751,864 |
49,751,864 |
2,483,858 |
5.0% |
||
| Notes: | |||||
| 1. General Assembly approved budget does not include a teacher salary increase in FY06. |
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| 2. State lottery funds for FY06 are projected in the amount of $1,803,344. At least 50% of these funds must be |
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| 3. The 27.5% increase in Special Education - SOQ funds is the result of an increase in the per pupil SOQ formula amount. |
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4. The increase in Employer Shared Benefits results from an increase in the VRS retirement rate 11.58% to 12.17%. (includes retiree health care credit) |
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| Also includes the continuation of the premium holiday for the employer contribution for Group Life in fiscal year 2006. |
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