Shelby County Schools

Shelby County Schools

Shelby County, Tennessee

District Budget

Fiscal Year 2015-16

Prepared by:

Shelby County Schools

Finance Office

THE OFFICE OF THE SUPERINTENDENT

160 S. Hollywood Street ? Memphis, TN 38112 ? (901) 416-5300 ? Fax (901) 416-5578 ?

Dorsey E. Hopson, II

Superintendent

Citizens and Board Members

Shelby County Schools

Shelby County, TN

The Shelby County Board of Education¡¯s (¡°Shelby County Schools¡±, ¡°SCS¡± or the ¡°District¡±)

Budget for Fiscal Year (FY) 2015-16 is the District¡¯s financial plan that will guide the Board, staff

and stakeholders in working towards the District¡¯s mission: ¡°Preparing all students for success in

learning, leadership and life.¡± A critical component of achieving this mission is Destination 2025,

the District¡¯s 80/90/100% strategic plan; by 2025, 80 percent of our children will graduate from

high school college or career ready, our school district will have a 90-percent graduation rate,

and 100 percent of our students who graduate will enroll in a post-secondary opportunity.

I am pleased to present the Adopted Budget for FY2015-16 that upholds our commitment to

students and their academic achievement ¨C realizing that the cost of educating the future

leaders of tomorrow requires an investment in funding. The total budget for the District is

$1,347,109,782 including all sources, uses, and transfers. The FY2015-16 General Fund Budget

totals $985,869,882, representing approximately 73% of the District¡¯s total budget. The District

is assessing its use of available resources and footprint with the increasing enrollment of charter

and state-designated Achievement School District (ASD) schools while District¡¯s enrollment

declines.

At a projection of just under 95,000 students, Shelby County Schools is evolving from its recent

merger and demerger of municipal districts within the past two years. With the strategic focus

of a leaner, more efficient organization - while providing the best possible educational

experience for our students - the District¡¯s FY2015-16 General Fund budget includes

$35,991,069 in planned use of fund balance to assist with this process. The District began

FY2014-15 with approximately $108,201,849 (adjusted) in unassigned fund balance, net of the

Basic Education Program (BEP) reservation required by state law. The statutory requirement of

the BEP reservation is calculated based upon 3 percent of next year¡¯s General Fund

expenditures. The unassigned fund balance coupled with the BEP reservation is projected to be

under 7 percent of budgeted general fund expenditures in FY2015-16; although, preliminary

year-end figures indicate that it may be lower.

Additionally, both the Shelby County Board of Education and the Shelby County Board of

Commissioners voted to approve approximately $7.9 million in High Leverage Investments in

the General Fund to address academic achievement in high priority schools.

Shelby County Schools offers educational and employment opportunities without regard to race, color, religion, sex, creed, age, disability, national origin, or genetic information.

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Earlier this year, the Board adopted five strategic priorities in support of Destination 2025 that

helped focus our efforts during a challenging budget development discussion to ensure that the

recommendations serve our students in the most effective and efficient manner. These priorities

are listed below, along with the allocation of the District¡¯s total budget of $1,347,109,782:

1) Strengthen Early Literacy 2.14%

2) Improve Post-Secondary Readiness 40.15%

3) Develop Teachers, Leaders and Central Office to Drive Student Success 22.25%

4) Expand High-Quality School Options 22.02%

5) Mobilize Family & Community Partners 13.44%

During the budgeting process, we:

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Aligned budget submissions to the priorities within the District¡¯s 80/90/100% Strategic

Plan;

Reviewed enrollment trends and revenue sources; and

Focused on doing the most good for ALL students with the resources that we have.

By linking financial decisions to academic goals and outcomes, we can make Shelby County

Schools a district of choice to retain and recruit students and teachers.

The District continues to develop a year-round budget process that emphasizes continual

improvement rather than just a four- to six-month task to crunch the numbers. We are

committed to being increasingly strategic in projecting the District¡¯s footprint over the next two

to five years while continuing to strengthen financial decisions that support academic

achievement.

We appreciate your support of public education and Shelby County Schools. A stable funding

plan¡ªwith built-in growth from all of our funding sources¡ªis absolutely essential to help us

transform the District and better prepare our students to excel in the midst of emerging

national and global academic standards.

Acknowledgments

The preparation of this document was accomplished through the commitment, dedication and

tireless effort of the entire Department of Finance. We would also like to extend our thanks to

all District personnel who assisted in the preparation of this document.

Respectfully submitted,

Dorsey E. Hopson, II

Superintendent

Shelby County Schools offers educational and employment opportunities without regard to race, color, religion, sex, creed, age, disability, national origin, or genetic information.

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