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December 14, 2006
TO: Board of Education
FROM: Art Rainwater
RE: 2007-08 Budget Discussion Items
The 10 categories illustrated on the attached sheet will be considered in preparing a balanced budget for presentation to the Board in early April. There are a range of dollar impacts for each item that will be considered by the Management Team.
As indicated in the budget materials presented this evening the assumptions used in completing the five-year forecast, show a gross budget gap for 2007-08 of $9 — $12 million. These are preliminary calculations. As we finalize the forecast in January of 2007, we will refine this estimate. Through the process to construct a balanced budget for consideration by the Board in April of 2007, we will further define the impact on existing programming and staffing.
| Step One | Gross gap $9-12 milllion | December 2006 |
| Step Two | Forecast | January 2007 |
| Step Three | Balanced budget | April 2007 |
| Step Four | Adjustments based on actual numbers | Fall 2007 |