The BOE also approved a decrease in M&O millage from 15.30 to 15.208 and separately a debt service for bonds millage of 1.418, no change from last year. With the increase in property values assessed by the County of 7.58%, the millage rates represent an increase in property taxes of approximately 4.13%, all exemptions being equal.
Let’s look at the overall school budget for 2024/5 and highlight what the additional $69 million is funding for this year: First the budget increase of $69 million $68 million of the $69 million is for salary and benefits for teachers, paraprofessionals and support positions. Here is the breakdown: 140 new staff members: $14 million New pay scale/Cola of 5% $20.5 million Step Increase(pay band changes) $5.3 million Healthcare and Pension increases $28.4 million Of the 140 new personnel, 118 are teachers and paraprofessionals and 9 are support positions. These numbers reflect the impact of the approved $2,500 in teacher pay as signed by the governor, pay band changes, $1,500 annual supplement for specialized instruction teachers and state-mandated increases for healthcare and the retirement fund. It’s important to note FCS is playing catch up with other districts in teacher compensation and, even with these changes, has not caught up. Teacher retention is an on-going issue and focus for FCS. FCS is BIG and well run With nearly 54,000 students, 8,000 staff members, and 42 schools, FCS is the largest employer in Forsyth County. It has the highest graduation rate in the Atlanta area at over 96%, highest SAT, and ACT scores and the highest Financial Efficiency Rating. It has the lowest cost per student of area districts. The total budget is $714.788 million, with 90.35% going to salaries and benefits and 9.65% to operating expenses. The top 5 line items are: $$Millions Instruction $523.126 Maintenance & Operations $52.712 School Administration $38.458 Transportation (bus) $36.733 Pupil Services $17.228 Central Support $16.927 Key Points on the Budget for Property Owners This budget is the operating budget, where most of your property taxes go. Capital expenditures like new construction, additions to buildings, major equipment and vehicle purchases and the like are paid for through sales taxes (SPLOSTs) and bonds and are handled separately. As highlighted in the 3rd Edition of The Kicker, funding overall is diverse. Property taxes provide 46% of funding for the operating budget and include residential and commercial property. The State of Georgia provides 47% of funding. In Forsyth County we rely more on residential property taxes than other districts for lack of commercial property development. Due to the Over-65 exemptions, where seniors do not pay the school district portion of their property taxes, FCS does not see what would amount to $60 million in additional revenue. We are one of the few counties that offer such an exemption. If you want the deeper dive: Got questions? Ask a Candidate. We have 3 BOE candidates: Jessica Fleming, Debbie Stair and Claudia Woods. We encourage you to reach out to them with questions about the BOE, FCS, their candidacy and, if you can, donate, offer support to their campaigns and VOTE! Comments are closed.
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October 2024
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