Dear RCSD Families,
I want to provide you with an update on where we are with our 2022-2023 budget development.
Last week, Chief Financial Officer Carleen Pierce and I presented the District’s proposed draft budget to the Board of Education and State Monitor, Dr. Shelley Jallow. On Thursday, during the Board business meeting, Dr. Jallow presented her findings and directed us to prioritize spending based on the academic and financial plans. She also asked us to reduce our dependency on the appropriated fund balance, as we were using over $30 million of our savings to offset a deficit.
Our finances have been impacted by inflation, increasing fuel and energy costs, expenses related to contractual obligations, continued declining enrollment, and increased costs of charter school tuition. We also know that maintaining a healthy fund balance is critical to continued fiscal stability. Therefore, the reliance on our savings must be minimal.
We have received an infusion of federal emergency funds; however, these dollars are temporary and will not be renewed or extended. ARP/CRRSA dollars are designated to address diverse needs arising from the COVID-19 pandemic, including responding to students’ social emotional health and academic needs. While it may appear that the District has a significant financial surplus, this is not the case. As Dr. Jallow said in her presentation, “Burning through fund balance in good times leaves the district more vulnerable to devastating and chaotic staff reductions in bad times.” Under my watch, we will not return to the days where our focus was more on fiscal issues rather than academics.
Today, a revised balanced budget is being presented to the Commissioner of Education that significantly reduces our dependence on the fund balance. In spite of the reductions, this budget reflects a commitment to students and sets priorities for delivering high-quality instruction, social emotional wellness and health, and additional supports for our English Language Learners and Students with Disabilities.
On April 7, we will release our draft budget to the Board and post it on our website. I invite you to attend the first public budget hearing on Thursday, April 14, at 5:30 pm. Board budget deliberations will begin on April 26, and the Board will vote to adopt the final budget on May 10.
Fiscal stability is paramount to ensuring that education remains the top priority in our District. Thank you for your continued support of the RCSD.
Dr. Lesli Myers-Small
Superintendent of Schools
