Budget Overview and Outlook

January 2024

#NHCSLeadingTheWay
Budget Overview and Outlook

1) FY 2023-2024 Funding Overview

2) FY 2023-2024 Budget Highlights

3) FY 2024-2025 Budget Outlook

4) Next Steps
FY 2023-2024 Budget by Fund $390M
FY 2023-2024 Budgeted Expenditures
FY 2023-2024 Operational Budget Highlights

1) Average employee raise 4%, excluding bus drivers average raise 16%

2) Employer retirement rate increase from 24.5% to 25.02%

3) Employer health insurance rate increase 2%

4) Added esports as a high school fall sport and increased athletic

stipends an average of 4%

5) State grants for tutoring $210k and AI School Safety $3.2M

Local Current Expense-Fund Balance Change
State and Federal Revenue
Projections Compared to Actual
Local Current Expense Fund Balance

June 30, 2023 Total Fund Balance $12,554,353

Less Assigned $2,300,618
Less Fund Balance Appropriated $4,125,272
Unassigned Fund Balance $6,128,463
2024-2025 Budget Outlook

1) Student enrollment projection 24,858

2) Charter School enrollment projection 2,031
3) Projected average employee raise 4%
4) Employer health insurance rate increase 7%
5) Reduction in County Appropriation approx $1.6M
6) Slight increase in State revenue for raises and benefits
7) Eliminate use of Fund Balance
8) ESSER III Ending
Next Steps

1) Board FY 2025 Budget Priorities

2) Zero Based Budget Method for FY 2025
3) Superintendent and Department Budget Meetings
4) Capital Outlay Committee Meeting
5) Board Budget Work Session
6) Superintendent Budget Recommendation
7) Submit County Budget Request to Board of County Commissioners
Questions & Discussion