Dawn Page, Chair - Distr ict 8

Maurice Henderson, Vice-Chair - Distr ict 5 Kimberly Bridges - Distr ict 1

Kimberly Gray - Distr ict 2 Norma Murdoch-Kitt - Distr ict 3

Adria Graham-Scott - Distr ict 4 Chandra Smith - Distr ict 6

Donald Coleman - Distr ict 7 Evette Wilson - Distr ict 9

Dr. Yvonne W. Brandon, Superintendent

Factors Impacting the FY2013 Budget

NET CHANGES BY CATEGORY Net Loss of One-Time Funding: $ 8,170,700 Net State Revenue Loss: 985,300 Net Changes from FY2012 to FY2013: 223,100 1% Salary Bonus: 1,560,000 Virginia Retirement System (VRS):

• Rate Increase 11.93% to 17.77% (40%) 8,218,900 VRS Group Life Insurance:

• Rate Increase 0.28% to 1.19% (326%) 1,294,200 Health Care:

• Health Insurance Rate Increase (10%) 2,370,000 Speech Therapy Services: 1,000,000 Projected Deficit: $23,822,200

Sources for the FY2013 Budget

Level of State Funding

FY2009 FY2010 FY2011 FY2012 FY2013*

State 135,629,9 117,908,0 111,921,3 107,450,5 106,468,2

-

30,000,000

60,000,000

90,000,000

120,000,000

150,000,000

Local Composite Index

The Local Composite Index (LCI) is a measure of how much a locality can afford to pay for K-12 education and is determined by three factors:

•Local real value of property

•Adjusted gross income

•Local taxable retail sales

Local Composite Index (LCI)

0.00000.05000.10000.15000.20000.25000.30000.35000.40000.45000.5000

2006-2008 2008-2010 2010-2012 2012-2014

0.3616 0.3447 0.3551 0.3539

0.4352 0.4118 0.4195 0.4203

0.4604 0.4319 0.4370 0.4276 0.4329 0.4272

0.4945 0.4779

Chesterfield Hanover Henrico Richmond

Percentage of Local Funds

24.6%

24.1% 23.8%

24.3%

23.8% 23.5% 23.7%

22.4%

21.6%

21.0% 21.0%

20.3%

18.1%

16.3%

15%16%17%18%19%20%21%22%23%24%25%

Regional Comparison Percent of Local Funding

Richmond’s percentage excludes approximately $52M in “Rainy Day” funds that are part of the City’s total general fund budget.

FACT: On average, the City’s revenue has increased as the school’s allocation has decreased

4.2%

4.0% 6.3%

1.5%

3.3% 4.2%

4.1%

5.5%

3.9% 3.1%

-4.2%

1.4%

11.6%

10.8%

-0.5%

1.6%

5.4% 3.5%

1.2%

2.7%

5.3%

-0.3% 0.0% 0.3%

-4.0% -2.3%

-0.4%

0.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13*

City Schools

4.2%

4.0% 6.3%

1.5%

3.3% 4.2%

4.1%

5.5%

3.9% 3.1%

-4.2%

1.4%

11.6%

10.8%

-0.5%

1.6%

5.4% 3.5%

1.2%

2.7%

5.3%

-0.3% 0.0% 0.3%

-4.0% -2.3%

-0.4%

0.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13*

City Schools

REVENUE (City Funding)

FY2000 24.6%

FY2013 19.6%

ACHIEVEMENTS

• Since 2005, the number of middle school students enrolled in advanced courses has increased by 100%

• Since 2008, advanced placement enrollment has increased by 395%

• The on-time graduation rate has increased by 7.47 % since 2004 to 70.5%

• The number of fully accredited schools has jumped from 19% in 2002-03 to 90% in 2011-12

• Since the 2008-2009 school year, the number of advanced placement courses offered increased by 62%

REVENUE (City Funding)

ACHIEVEMENTS

• Four Richmond schools have been named National Blue Ribbon Schools by the U.S. Department of Education (USDOE), the highest recognition a school can receive

• The number of students receiving industry certifications has climbed from 481 in 2009 to 539 in 2010, an 11% increase

• Richmond Community and Open high schools have been ranked among America’s best by US News and World Report four years in a row

FY2000 24.6%

FY2013 19.6%