The Board of Education’s Budget Sub-Committee met earlier today to hear a presentation by FMS Chief Financial Officer Bobbi Newland. Here’s a quick recap of the meeting and the timeline Farmington Municipal Schools is following to complete our next school budget.
- March 24: Budget Sub-Committee Meeting at the Central Office Board Room
- April 06-08: Budget Workshop (Albuquerque)
- April 12: Board of Education Work Session to review Budget Committee Recommendations
- May 10: Board of Education approves preliminary budget for submittal to PED
- May 14: Preliminary Operating Budget to NMPED is submitted
- June 14: The budget is formally adopted by the FMS Board of Education during a public hearing
- June 15: Final Operating budget to NMPED is submitted
The proposed total FMS Budget is 147 million, 328 thousand dollars. Currently, more than 80 percent of the FMS budget is connected to our classrooms. Our cash reserves are above 8 percent.
By law, funds cannot be transferred from the instructional materials, transportation, and capital budgets to the operational budget in order to cover operational expenses such as salaries, utilities, and insurance. Expense overages in most funding sources, on the other hand, can be supplemented through operational funds, which reduces the amount of money available to fund teaching and learning.
In the photo: FMS Chief Financial Officer Bobbi Newland presents the proposed school budget to the Board of Education.
FMS Budget Breakdown
District Operational State Funding
Current Budget: 91 million, 490 thousand dollars
These funds pay for teaching and learning, support for schools, including salaries, benefits, utilities, property/liability insurance, supplies and materials, professional development, substitutes, and some athletic expenses.
Capital State Funding and Local Tax Levies
Current Budget: 30 million, 430 thousand dollars
These funds pay for the construction of schools, improvements to facilities, major additions and renovations, technology infrastructure, computers and hardware, ongoing maintenance, real estate, and equipment for new schools.
Transportation State Funding
Current Budget: 3 million, 400 thousand dollars
Federal, State, and Local Grant Funding
Current Budget: 21 million
These funds pay for programs that support low-income and other at-risk students (Title I), federal school meal programs (USDA), certain special education services (IDEA), certain bilingual and ELL services (Title III), and certain federal mandates for schools in need of improvement (ESSER).
Career and Tech, Music Expansion
The proposed budget also includes two full-time art positions for the district to expand the enrichment programs, as well as an expansion for the Career and Technical Education program to double enrollment in welding and auto shop programs.
Finally, the budget includes a Virtual Program that would house between 250-300 students from grades 6-12. FMS will build the program with dedicated staff for the virtual (online) students, including four teachers, four educational assistants, one administrator, one family liaison, one counselor, and tech support. More information to come on this pilot program.
The next Budget Committee meeting will be on March 24, 2022, at Central Office, starting at 3:00 p.m.