Fulton County Schools’ operating budget will top $1 billion for the first time in its history. The board met Wednesday for the second meeting in its budgeting process.
Deputy CFO Marvin Dereef told the school board March 14 that three factors made the budget grow: an increase in the value of Fulton’s tax base, a decrease in state austerity cuts and an increase in enrollment.
Fulton’s pool of taxable property is expected to grow 5 percent in value to more than $32 billion. Officials project this will net the district about $595 million in property taxes, which is the district’s main source of revenue.
The state is expected to withhold only $7.1 million from the amount Fulton is allotted in its funding formula, which is just shy of last year’s $7.3 million withheld. Fulton has missed out on nearly $400 million in state funding since austerity began in 2003.
Georgia’s funding formula is linked to student enrollment, so Fulton’s anticipated growth of 400 students will lead to more money from the state. FCS expects to serve more than 96,000 students in its 105 schools next year.
It is still early in the budgeting process, so Dereef and CFO Dan Jones have to make assumptions and say their projections could change.
On Wednesday, the board reviewed the district’s grant-funded programs, which include services for students with disabilities, school nutrition programs, retirement services and pre-K programs.
These programs have increased the graduation rates of students with disabilities, provided students with locally grown fruits and vegetables and increased the retention of pre-K teachers.
The board will meet again on April 14 when Superintendent Jeff Rose will present his comprehensive budget, long-term forecast and capital improvement program.
Fulton County Schools 2017-2018:
- Enrollment - 96,676
- Schools - 105
- Total revenue - $1,001,455,598
- Revenue from local taxes - $620,724,787 (62 percent)
- Revenue contributed by state - $367,865,237 (37 percent)
Source: Fulton County Schools
*revenue refers to operating budget totals
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