Budget Process and Funding

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Budget Process and Funding

Throughout the process, the Office of Budget and Planning (budget office) periodically reviews staffing levels, revenue and expenditure projections, and monitors state legislation. This year, the budget office conducted surveys in the fall and spring to solicit community and employee group feedback. The budget office incorporated the feedback with the School Board’s mission and goals to develop the fiscal year 2016-17 budget. In response to the current economic conditions facing the City of Portsmouth (the City), the School Board has submitted a sound, balanced budget.

Meetings are held with the Division Superintendent, School Board Finance committee, and the School Board throughout the process to provide a timely, detailed overview of the budget process. The budget office presents categorical breakdowns of the proposed budget, details programs included/excluded, projects staffing level changes, must funds items, recommended budget items, and unfunded initiatives.

Information concerning projected revenues and expenditures related to the Grants fund and the Food Services fund are obtained from the Finance and Food Services departments, respectively. The projected Grants fund revenue is based on current grants awarded with the anticipation that the school division will receive the same grant funding in the upcoming year and anticipated new grant awards currently being pursued by the division. The Textbook fund budget is based on the projected state revenue and the minimum required local match as directed by the state.

On May 10, 2016, the City of Portsmouth, Virginia City Council (the City) adopted Ordinance 2016-30 to appropriate $191.8 million to the School Board for fiscal year 2016-17. On May 26, 2016, the School Board adopted the following fiscal year 2016-17 budget:

FY 2016 - 17 ADOPTED BUDGET
GENERAL FUND: $ 143,551,503
GRANTS FUND: $ 18,650,117
CAFETERIA FUND: $ 8,420,100
TEXTBOOK FUND: $ 1,532,441
RISK MANAGEMENT FUND: $ 19,656,132
TOTAL ALL FUNDS $ 191,810,293

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