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FY24 Budget Development
A school system’s budget serves as an operational plan, stated in financial terms, for carrying out the mission of the school district. The development of a budget requires planning for the upcoming school year and results in allocations of funding to accomplish a district’s stated goals.For Henry County Schools, budget development typically begins in December with review and analysis of historical trends, strategic priorities, and enrollment forecasts. The launch of state legislative activity in January and the monitoring of State and local activity through March support revenue forecasting, that then informs the school system’s expenditure capacity. Collaborative inputs from school leaders, district leaders, and the community are obtained to inform expense planning. Georgia law requires the Superintendent to recommend a balanced budget for action by the governing school board. Tentative presentation of a proposed budget and final adoption of a proposed budget must be accomplished by June 30th annually.
Click here to view Henry County School’s budget development calendar.
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March Budget Workshop
On March 27, 2023, the Board of Education held a Special Called Meeting to review emerging recommendations to be included in the Superintendent’s tentative budget proposal. Chief Financial Officer Shanika Clay provided a report on the FY23 year-end outlook and fiscal management practices which support sustainability of the school system. Based on information known to date, Chief Clay shared the tentative forecast of revenues and expenditures, to include investments in competitive compensation for all staff members. Superintendent Mary Elizabeth Davis shared that the preview discussed was subject to evolve prior to the April Board Meeting date, as additional information from the State Legislature and the local tax assessor becomes available.
Click here to view FY24 Budget Workshop report.
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FY24 Budget Overview
In the March 2023 meeting of the Board, Chief Financial Officer Shanika Clay provided a report on the FY24 revenue forecast for the general fund and emerging investment priorities. The report outlined forthcoming mandates from the State legislature which will increase school district expenses relating to employer paid healthcare contributions and the compensation of classified employees. The report outlined additional competitive compensation, strategic action plan, and operational investments that will be included in the Superintendent’s recommended budget when it is tentatively presented for adoption on April 17, 2023.
Click here to view Henry County School's budget outlook.
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FY24 Budget Outlook
In the February 2023 meeting of the Board, Chief Financial Officer Shanika Clay provided a report highlighting activity of the State’s 2023 legislative cycle that impacts school budgets. The report outlined key changes the State has proposed regarding the employer paid share of health benefits and its impact on the current year (FY23) budget, as well as the budget under development for FY24. Chief Clay also shared the preliminary costs estimate to implement the Governor’s proposed $2,000 salary increase for all certified staff members and signaled forthcoming analysis for all remaining job families.
Click here to view Henry County School's budget outlook.
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FY24 Budget Priorities
In the January 2023 meeting of the Board, Chief Financial Officer Shanika Clay provided a report on top budgetary priorities that will inform FY24 budget development. The report outlined the Board’s commitment to continue building upon prior year investments and to support investments required by the five-year, community-inspired strategic plan.
Click here to view Henry County School's FY24 budget priorities.
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FY24 Budget Development Cycle and Calendar
In the December 2022 meeting of the Board, Chief Financial Officer Shanika Clay provided a report on the status of the FY24 budget development cycle and accompanying calendar. Budget development has many key inputs for expenditure considerations that must align with the district’s five-year, community-inspired strategic plan. The Board’s commitment to this important budget-setting process helps to maintain the district’s vision of every student receiving a high-quality, world-class education.
