1. 1 2012-2013 Superintendent’s Budget Presentation for Providence School Board April 9, 2012

2. 2 Local Budget Comparison FY 2012 to FY 2013 Providence School Department Fiscal Year 2012-2013 Local Budget Revenue/Expenditure Projection BudgetProjectionChange Revenues2011-20122012-2013 State Aid$177,121,396 $0 Restore Federal Job $8,683,552 Funding Formula Year 27,682,555 Categorical Changes228,566 Supplemental Jobs $ FY 12(128,298) Group Home Updates(90,000) Non Public Transportation (112,426) SUBTOTAL177,121,396193,385,34516,263,949 City Aid124,896,611 0 Medicaid4,250,000 0 Indirect Cost1,700,0001,500,000(200,000) Miscellaneous585,000 0 SUBTOTAL131,431,611131,231,611(200,000) TOTAL REVENUE308,553,007324,616,95616,063,949 Expenditures Total Expenditure308,553,007331,121,02422,568,017 BUDGET GAP$6,504,068

3. 3 FY2013 Budget Overview The Superintendent’s FY2012-13 proposed budget is $331,121,024 The FY2013 Budget is $22,568,017 or 7.31% higher than FY2012

4. Loss of Federal/State Funding and Budget Adjustments $6.3 Million Contractual Increases $9.3 Million o Labor Contracts o Other Contracts Benefit Increases $3.7 Million New People and Initiatives $3.2 Million o New Positions o Technology Initiatives o Decreasing the Walking Distance for High School Students (in partnership with RIPTA) What Explains The Increase? 4

5. Funding Losses & Budget Adjustments 5

6. Contractual Increases 6

7. Benefit Increases 7

8. New People & Initiatives 8

9. 9 Current Budget Unknowns Final State Aid Allocation to the District Final City Appropriation to the District Final Federal Entitlements

10. Recommendations for Closing the Gap 10

11. 11 FY 2013 Expenditures Proposed Expenditures$331,121,024

12. 12 FY 2013 Revenues Projected Revenues $324,616,956

13. How Much of Our Budget is Fixed? 13

14. 14 Budget Schedule (Anticipated) March 26Budget Submitted to School Board April 27Budget Submitted to Mayor May 1 Budget Submitted to Council JuneCouncil Budget Hearings June-JulyFinal State Aid Determined July Council Adopts City Budget July-AugustSchool Board Approval July-AugustCouncil Approves Ordinances

15. Questions ? 15