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Board of Education Finance Committee Meeting
Tuesday, May 7, 2013, 5:00 PM
Meeting Information and Documents:
- Meeting Location:
DeLayo Martin Community Room Alice and Bruce King Educational Complex, 6400 Uptown NE - Meeting Notice: Posted on April 19, 2013 at 6:17 PM
- Agenda Packet: Posted on May 3, 2013 at 4:57 PM
- Minutes
- Calendar import:
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Additional Details
Finance Committee Meeting
AGENDA
Tuesday, May 7, 2013
5:00 PM
DeLayo-Martin Community Room, Alice and Bruce King Educational Complex, 6400 Uptown Blvd.NE
Albuquerque, New Mexico
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I. |
Call to Order |
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A. |
Approval of the May 7, 2013, Finance Committee Agenda (Discussion/Action) |
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II. |
Presentation of FY14 Preliminary Budget (Discussion) |
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III. |
Adjournment |
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A. |
The next Finance Committee meeting will be held on Tuesday, May 21, 2013, at 7:45 a.m., at the Alice and Bruce King Educational Complex in the DeLayo-Martin Community Room |
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Albuquerque Public Schools
Minutes of the Finance Committee
May 7, 2013
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A Finance Committee meeting of the Albuquerque Public Schools Board of Education was held on Tuesday, May 7, 2013, beginning at 5:00 p.m., in the Alice and Bruce King Educational Complex, DeLayo-Martin Community Room, 6400 Uptown Blvd., NE. Attending were: Don Duran, Marty Esquivel, Lorenzo Garcia, Analee Maestas, Steven Michael Quezada and David Peercy (via telephone).
Absent: Kathy Korte
- I. Call to Order
Dr. Duran called the meeting to order at 5:05 p.m.
a. Adoption of the May 7, 2013, Agenda
Mr. Esquivel motioned for approval of the agenda with Mr. Quezada seconding the motion in the affirmative. Motion carried.
- II. Presentation of FY 14 Preliminary Budget
Mr. Moya and Mr. Hendrickson presented the Preliminary FY14 Budget:
- APS SEG Funding-largest increase since FY08-$614.1M
- Operational Fund is largest funding component-$658.6M
- Total Budget is $1,319.8M
- Keep cuts away from schools
- No set % cuts for departments
- SEG Revenue Increase-$24.1M
- Known changes-$9.8M
- Discretionary changes-$3.8M
- Grand total projected expenditure increases $28.1M
- Projected budget shortfall-($4.0)
- Supplemental Sped MOE funding fix is non-categorical-$7.0
- Projected shortfall if Sped MOE generates additional SEG-$3.0
- Recent History of Budget Cuts-5 year total=($105M)
- Operational Surplus-$3M
- Estimated FY13 Cash Balance- $27M
- Beginning Budgeted FY14 Cash Balance-$27M, Ending Cash Balance-$30M
The final FY14 Budget will be voted on by the full Board on May 22, and submitted to PED on May 28, 2013. The technical review will be on June 12, 2013.
- III. Future Agenda Items/Requests
- IV. Adjournment
Dr. Duran adjourned the Finance Committee meeting at 6:25 a.m. The next Finance Committee meeting will be held on Tuesday, May 21, 2013, at 7:45 a.m., in the DeLayo-Martin Community Room.