Minutes 04/24/1990 - Laserfiche WebLink

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176 April 24, 1990 financial position can be regained through-more efficient fiscal positioning which is what this budget, is proposing--holding the line on general government and education growth and spending, while addressing operating needs through a more effective, efficient and ~coordinated use of oUr~community's financial resources. ~ Of our opportunity, we should be confident because it will be bcrn ~n a business and civic "Workable Partnership" and guided by conservative financial-management prlnciples~and practices. The sections which~fcllow will add detail to Portsmouth'~s f~nancial-blueprint-for the 19~90's. ~ ~-' ~ SCHOOL FUNDINg. The'budget recommends a 5% increase in-local revenue for public education; This increase ~s sufficient to support-the State mandated classroom teacher ra~ses, as well as~to provide raises commensurate with that given to Ci~y~employees~for other school personnel and general operating expenses. The funding level recommended for the School Operating Budget i~ $1,517,209 less than the amount requested b~ the~School Board ($2,739,280). By deferrihg the p~chase of s'cho~l~buses and referring certain capital'-.maintenance'~tems to Capita~Imprevement Plan (CIP) funding, the~recommended reduction can be reduced.to approxima~ly-~$900;000.' For thi~'remaining amount, the School Board wili need.~tO"make internal revisions in their'budget proposal. Although this reduct~on:is~unfortunate, our funding level nonetheless reflects a very~strong'commitment to education. We simply cannot share what~'we do not have. As recommended, the increase in the total School Operating Budget is nearly do~ble the growth in the budget for general .government operations. .Sources of Funding for Schools 1989-90 1990-91 AMOUNT BUDGET* PROPOSED OF CHANGE %CHAN~E Revenue from State School Funds Revenue from 1,525,000 , 1¥390~000 Federal Funds ' ~ Revenue from City '24,441,415 25,663,486 $40,046,785 $42,590~332 $2,543,547 6.35% -135,000 -8.85 1,222,071 5.00 Revenue f~om~Sta%~ ~i ~7,417,311 ~8;406;841 989;530 13.34 Sales Tax ~ Revenue f~om 'other 910;000 ~- 844;000 -66,000 -7.25 Funds '~' ~ Total Revenue $74,340,511 $78,894,659 $4;554,148 6.13% *,inpludes supplemental appropr,iation~Of $379,997~ approved during~the 1989-90 fiscal year.' ~ , :~ EMPLOYEE BENEFITS With the~ substantial decline in Federal and State aid to the local Government, the City has, relied on our employees'to do substantially more with less. They. have undertaken this task~ with commi:tment and dedication. While it Would be desirable to present you with a proposal which reflects their level of service, it is not possible in these times of fiscal restraint.