Highlights of Superintendent’s Recommended FY2006 Budget









Highlights of Superintendent’s Recommended FY2006 Budget

Total Budget = $1,234,346,776
General Fund Budget = $1,020,411,256
The General Fund budget is increasing by $41.4 million (4.2%), while the cost of educating an additional 7,062 students is approximately $50.6 million (at an average per-student expenditure of $7,164).

Salary Increases = at least 2%
All employees will receive a minimum 2% cost-of-living increase.

Estimated Millage Rates: 19.25 (M&0) + 1.30 (Debt Service) = 20.55
This represents a net increase of 0.25 mills over FY2005.

Value of 1 Mill = $24.3 million
An increase of 5.2% from FY2005.

Estimated Increase in Taxes on a $200,000 home = $17 per year
An increase of 1.2% from FY2005.

State Funding for Transportation = $6.3 million
Down from $6.4 million in FY2005.

Five Mill Buy-In = $121.0 million
Up from $111.9 million in FY2005 (an 8% increase).

Beginning Teacher Salary = $35,912 (T-4)
The average teacher salary is projected to be $50,552 (or $65,582 including employee benefits costs).

State Funding Per Student = $3,545
An increase of $132 from FY2005, but $61 less per student than GCPS received in FY2002.

Local Funding Per Student = $3,441
An increase of $138 from FY2005, but $73 less per student than GCPS received in FY2004.

State vs. Local Funding = 50.7% State and 49.3% Local
The State funding percentage has declined from 54.3% in FY2001.

General Fund Reserve = $46.0 million
This represents 4.5% of General Fund expenditures.

Percentage of General Fund Budget Spent on Instruction = 75.9%
The highest percentage in six years, and up from 74.9% in FY2005.

Local Revenue is Increasing by 9.3%
This increase is comprised of growth (approximately $18.5 million), value update (approximately $11.8 million), and millage-rate increase (approximately $9.2 million).

Per-Student Expenditures = $7,164
A decrease of $67 per student from FY2005.