Franklin BOE Gets Overview of FY2025 Budget

The Franklin County Charter School System is looking at a FY25 proposed budget of $51 million.

At a called meeting last Thursday night, the Board of Education heard from Assistant Superintendent of Operations, Carl Dekker who said both revenue and expenditures are expected to rise next year.

Under Revenues, Dekker said the system is expecting:

Local Revenue: $18,580,414.00
• State Revenue: $29,033,399.00
• Other Revenue: $ 2,897,951.00
• Local 5 Mil Share: $4,939,263
• Equalization Funds:  $917,527

For a total projected Revenue of $46,490,028

However, Dekker said expenses in FY25 are expected to go over $46.4 million for a total of $50,489,107.20.

He said instruction costs will jump from $36.6 million this year to $40.8 million in FY25 and operational costs will rise from $6.5 million to $9.6 million in FY25.

Dekker pointed out the school system has lost funding due to Local 5 Mil Share and Reduction in Equalization Funding.

Some other impacts to the next budget Dekker said are state-mandated changes including State-required increases and additions and salary increases as well as local increases such as increased fuel costs, increases in yearly Step raises, and the hiring of a Virtual Speech Pathologist.

In July, the Board of Education will hold two required millage hearings on Thursday, July 18 at 8a and again at 5:30p before their regular meeting at 6p.

A third millage rate public hearing will take place on Thursday, July 25 at 6p with the regular meeting at 6:30p when the Board is expected to vote on the millage rate.

Then in August, the Board will hold two budget public hearings – On August 8 at 5:30p and again on August 22 at 5:30p.

Following that, the Board is expected to approve the FY25 budget at a called meeting at 6p.