The Fayette County Board of Education on Aug. 10 adopted the 2020-2021 General Fund budget totaling $228.84 million. The adoption represents a $610,000 decrease from last year.
The General Fund budget for FY 2020 was $229.45 million, a $610,000 difference from the $228.84 million FY 2021 budget.
Though expenditures are set at $228.84 million, revenues tallied at $218.7 million, which included a $10 million decrease from the state due to budget reductions in the face of the Covid-19 pandemic. That amount will be made up by using $10.2 million from the school system’s fund balance (reserves).
In terms of revenues for FY 2021, state QBE (quality basic education) funding, which is essentially the amount a school system receives per student attending. In total, QBE funding for FY 2021 totals $101 million., while property taxes and motor vehicle taxes total approximately $116 million. The difference in revenues and expenditures was made up by using the fund balance (reserves).
Expenditures included no cost-of-living increases or salary increases, though it did include step increases at $2.4 million, an increase of 12.4 school-based teaching positions (mostly at elementary schools) at $2.4 million, a decrease of 8.5 school-based non-teaching positions at $255,000 and an increase of 10 teaching and parapro special education positions at $800,000.
Noted in the budget presentation were the salary and benefits of starting teachers, those with eight years’ experience and those with 20 years.
A starting teacher (T-4) earns $43,358 and $22,921 in benefits, for a total compensation of $66,279.
A teacher (T-5) with eight years’ experience earns $59,717 and $27,290 in benefits, for a total compensation of $87,007.
A teacher (T-6) with 20 years’ experience earns $79,481 with $32,569 in benefits, for a total compensation of $112,050.
Benefits total 32 percent of total compensation, and included health insurance, TRS (teachers retirement system) contributions and the school system’s Social Security contributions.