Bibb School Board approves $410.7M FY 2024 budget despite projected deficit
The Bibb County School Board approved a $410.7 million fiscal year 2024 budget on Thursday, presented by Superintendent Dr. Dan Sims, despite projected revenues coming in at $391.8 million.
MACON, Georgia (41NBC/WMGT) — The Bibb County School Board approved a $410.7 million fiscal year 2024 budget on Thursday, presented by Superintendent Dr. Dan Sims, despite projected revenues coming in at $391.8 million.
The decision follows three board work sessions, two public hearings and a tentative adoption of the budget. District officials are optimistic about the budget despite the projected deficit, which will be addressed by drawing from the District’s reserve fund, reducing it to an estimated $103.7 million.
The approved budget includes salary increases for certified and classified staff and additional staffing in response to increased student enrollment.
Click here to see the full budget.
The District faces potential financial challenges in the future as emergency federal funding ends, coupled with rising costs of goods and services, which could lead to a budget deficit by 2027.
“We are looking at all of our programs, all of our schools, we’re looking at our revenue options,” Chief Financial Officer Sharon Roberts said earlier this week. “We are looking at all options to make sure that does not happen in that year.”
The Board of Education will continue seeking ways to boost revenue and reduce spending.
“What’s the immediate impact on our budget or reserve right now?” board member Daryl Morton said. “The budget that I’ve seen does not include any sort of tax increase. Given the reserves we have, we can handle that in this budget. The question is: What do you do moving forward?”
According to Board Treasurer Kristin Hanlon, the District’s #Built4Bibb five-year strategic plan, which the Board also approved on Thursday, maximizes opportunities for students while maintaining financial stability.
“A lot of our decisions for spending in the next five years will be driven by the needs associated with that plan,” she said.
The plan was developed with feedback from parents and students, as well as businesses and leaders in the community.
Some potential solutions for the deficit include consolidating schools, rezoning, cutting staff positions and raising taxes.
“Things will happen, decisions will need to be made, but it’s way too premature to talk about what those decisions would be,” Hanlon said.
Rogers says the top priority now is to reduce current expenditures and that raising taxes is a last resort. She said earlier this week the Board plans to form a committee to examine options and present proposals following final approval of the Fiscal Year 2024 budget.
