Good afternoon,
Attached are the items I presented to the board.
I will respond to questions from your emails separately. The 25 proposed budget document attached has revenues in the first section followed by the expenses of each funding source with explanations. This budget is a draft prepared for April 16th meeting and subject to change before the May 7th meeting. It is in balance at each fund level.
If you use my word document, “25 Report budget” to guide you through the other documents for state aid and budgeting requirements. You have the attachment expenses from 19-23 by funding source and expenses to date of the report for 2024.
WVDE code as per Proposed Budget Packet 25 stipulates the law for a budget hearing (see page 2 #5). The notice should be in this weeks, “Pocahontas Times”, stipulating the 10-day period for the budget review and comments. This review period starts on April 26th from 8 am – 2pm, each day we are open. You may provide any comments to me in writing, and they will be brought to the board on the May 7th hearing date for consideration. Please keep in mind we have regulations and guidelines in our budgets based on federal and state requirements we must adhere to.
Best regards,
Sherry Radcliff
Pocahontas County Board of Education
Director of Finance/Treasurer
404 Old Buckeye Rd
Buckeye, WV 24924
sradcliff@k12.wv.us
304.799.4505 ext. 2225
304.799.4499 fax
304.799.5017 (Direct Line)
From: Chief Financial Officers <K12-CFO@LISTSERV.WVNET.EDU> On Behalf Of Uriah Cummings
Sent: Friday, March 22, 2024 3:27 PM
To: K12-CFO@LISTSERV.WVNET.EDU
Subject: State Aid Computations 2024-25
Good afternoon,
School Finance has prepared final computations for county boards and public charter schools to update their fiscal year 2025 budgets from what was provided in December.
Fortunately, this is the first year in quite some time the PSSP appropriations have not required a supplemental appropriation due to property tax valuation issues. However, please note that there are anticipated public charter schools who will begin operations in FY25; therefore, revised retirement, PEIA, and public charter school on-behalf allocation schedules will be compiled by May 1st. Due to this fact, these files are labeled (PENDING NEW CHARTERS). All other PSSP/Comp files are considered FINAL. OSF’s guidance is that county boards of education are not required to budget the revised amounts due to the timing of the release of the schedules; therefore, the attached allocations shall be included in the proposed budgets of each county board of education. If you choose to update the proposed budget in May, please make your assigned coordinator aware of this course of action. Otherwise, supplemental budget journal entries shall be completed after July 1st in order to incorporate the revised FY25 on-behalf allocations into the county board’s budget.
I want to specifically note that the PEIA allocations include a 10.5% increase in the average premium amount in which the allocations are based in accordance with the PEIA Board’s proposed employer increases for fiscal year 2025.
The attached schedules have been provided to assist school districts with their budgets for the 2024-25 year:
COMPS25 – Final
PBNSA 25 – (PENDING NEW PUBLIC CHARTER SCHOOLS)
PSSP Abbreviated Summary 25
PSSP Executive Summary 25
Local Share 25 at 19.40c - Final
Retirement – Budget25 (PENDING NEW CHARTERS)
PEIA Preliminary Allocation 25 – (PENDING NEW CHARTERS)
COMPS25 ACE
Charter Comps 25 Final (PENDING NEW PUBLIC CHARTER SCHOOLS)
BOE SA RECON 25 Final (PENDING NEW PUBLIC CHARTER SCHOOLS)
MCVC25 FINAL COMPS
The primary differences between the preliminary computations and the second preliminary computations are as follows:
Pay raises included in the state minimum salary tables due to the passage of HB 4883.
Updated local share amounts based on the Certificates of Valuation provided by the local county assessors in early March. There was an over-projected statewide growth for the December estimates. This growth change decreased the Step 7 a, b, and d allocations which factor growth into the calculations.
A further impact on Step 7d allocations was brought forth through the passage of HB5405 which allows the WVDE to retain $15 million of the Step 7d appropriation to accommodate the participation by county school systems in regional professional learning cadres or teacher leadership networks established or teacher leadership networks designed to support the full implementation of the Third Grade Act. You will notice a substantial decrease in the county allocation in comparison to December allocations.
Actual newly awarded National Board Certified Teacher candidate information was not available as of the preliminary computations and a maximum amount of funding for this purpose was requested instead. The second preliminary computations have now been updated with actual NBCT data and the additional funding has been allocated to applicable county boards. These Step 1 changes also caused changes to Steps 3 and 6b.
An error was found in a district’s FY23 operation and maintenance expenditures (X26). Due to the fact that Step 6a funding is in part based on the statewide average expenditure/sq ft, there was a slight decrease in the funding allocations statewide.
I expect all updated state aid related files to be uploaded to the School Finance webpage at some point Monday, and these files can be accessed at the following link when available: School Finance Data 2024-2025 - West Virginia Department of Education (wvde.us).
We plan on issuing state minimum salary schedules and county salary schedules to be certified by county boards on Monday as well, so be on the lookout for that email correspondence.
If you have any questions or need additional information, please do not hesitate to contact OSF at 304-558-6300.
Sincerely,
Uriah Cummings, CPA MPA
School Finance Officer
WVDE Office of School Operations & Finance
Building 6, Room 650
1900 Kanawha Boulevard, East
Charleston, WV 25305-0330
304.558.6300 P
304.558.8867 F
uriah.cummings@k12.wv.us
No comments:
Post a Comment