Finance Committee Meeting Materials

2025-26 Finance Committee Meetings

April 6, 2026, Finance Committee Meeting
Staff reviewed the state SOQ bonus payment program, the FY27 proposed operating budget compared to county funding levels, recommendations to close the funding shortfall, and proposed changes to health insurance plan offerings. The presentation can be found at the link below.

• Presentation to Finance Committee (4/6/26)

March 5, 2026, Finance Committee Meeting
Staff reviewed FY27 operating fund baseline adjustments and presented the FY27 proposed budget for all other School Board Funds. The presentation can be found at the link below.

• Presentation to Finance Committee (3/5/26)

February 9, 2026, Finance Committee Meeting
Staff addressed Board member questions, reviewed the FY27 transportation funding request, community eligibility provision expansion to Millbrook HS and Bass-Hoover ES, the capital asset plan request, and debt service funds needed. Staff also reviewed multiple budget shortfall scenarios should the state and county not fully-fund the proposal. The presentation can be found at the link below.

• Presentation to Finance Committee (2/9/26)

February 2, 2026, Finance Committee Meeting
Staff presented the FY27 proposed salary initiative, required increases for health insurance benefit plan, staffing requests, and instructional initiatives including a virtual school program and expansion to summer school offerings. All materials including a line-item budget and draft salary scale scenarios can be found by the link below. Also, the committee approved to forward a contract award to Dell Technologies to the full School Board for approval.

• Presentation to Finance Committee (2/2/26)
• Superintendent's Proposed FY27 Budget Document
• View additional materials from the meeting in BoardDocs
   

December 11, 2025, Finance Committee Meeting
Staff shared the results of the fall internal audit, an update on FY26 financial statements through October 31, 2025, changes to the local composite index for fiscal years 2027 and 2028, proposed changes to the staffing standards and a contract award recommendation to Lexia Learning. A link to the presentation can be found below.

• Presentation to Finance Committee (12/11/25)

October 13, 2025, Finance Committee Meeting
Staff shared the construction bond process, debt service fund projections through the next ten years, debt capacity ratios, operating costs of new schools, and the VPSA educational technology funds resolution for FY26. A link to the presentation can be found below.

• Presentation to Finance Committee (10/13/25)
• VPSA Educational Technology Funds Resolution for FY26

September 3, 2025, Finance Committee Meeting
Staff shared with the committee the Student Activity Fund audit concluded with no findings for all 21 school sites. Staff presented the FY25 athletic financial reports. Staff also presented the FY25 School Board Financial Statements. The School Operating Fund concluded the FY25 with $2.8M unobligated surplus. The committee is forwarding a request to use the unobligated surplus to replace four additional school buses and to replace HVAC units at Bass-Hoover Elementary School and Dowell J. Howard the full School Board. If the School Board approves the proposed use of the unobligated funds, the request will go to the County finance committee and Board of Supervisors for approval. A link to the presentation and all financial reports can be found below.

• Presentation to Finance Committee (9/3/25)
• FY26 Annual Budget Document with Addendum
• FCPS Student Activity Funds Financial Report
• FY25 Spring Middle School Athletic Report
• FY25 Spring High School Athletic Report
• FY25 Year-end Financial Statement

2024-25 Finance Committee Meetings

May 19, 2025, Finance Committee Meeting
Staff provided the committee information regarding federal funds received by the school division and how the funds are used. Staff also reviewed the spring internal audit process and results. Staff also reviewed additional state funds approved by the Governor for FY26. The committee took action to forward to the full board an approval to add 22 new positions using the additional state funds. A link to the presentation can be found below.

• Presentation to Finance Committee (5/19/25)

February 27, 2025, Finance Committee Meeting
Staff addressed School Board members’ questions from the previous Finance Committee Meeting. Staff shared estimated state revenues based on the House and Senate version of the state budget which could result in $3.0M additional funds for FCPS next fiscal year. Staff reviewed the proposed FY26 budget for all other school funds including school nutrition, textbooks, debt service, capital projects, private purpose, consolidated services, construction, health insurance, special grants, NREP operating and NREP textbook funds. The presentation can be found in the link below.

• Presentation to Finance Committee (2/27/25)

February 6, 2025, Finance Committee Meeting
Staff addressed School Board members' questions from the previous Finance Committee Meeting. Staff also shared the details of the Superintendent’s budget proposal related to School Board budget goals of instructional initiatives and operational funding to preserve and maintain assets. Instructional initiatives requests include forty new positions, FCPS share of NREP, data management system, curriculum development and professional learning. Operational funding requests include replacement school buses, safety and security equipment, technology device refreshments, human capital management system, and supporting the school nutrition program. The full School Board will meet February 13, 2025, for a budget work session to decide the funding proposal to advance to the County Board of Supervisors for consideration. Details can be found in the links below.

• Presentation to Finance Committee (2/6/25)
• Superintedent's FY26 Proposed Budget Document

January 23, 2025, Finance Committee Meeting
Staff shared details of the compensation initiative and pay upgrades proposed by the Superintendent for the FY26 school operating budget. The compensation initiative includes a pay scale average increase of 4.9% for teachers, 5.6% for the classified pay scale (custodians, school nutrition workers, bus drivers, instructional and bus assistants, maintenance technicians, mechanics, administrative assistants, etc.), 4.4% for the professional pay scale (psychologists, speech pathologists, occupational therapists, physical therapists, information technology, etc.) and 3.4% for the administrator, supervisor and coordinator pay scale. The budget proposal also includes pay upgrades for instructional and bus assistants, school security officers, special education level 2 teachers and instructional assistants, and upgrading middle school lead teachers to dean of students. The next Finance Committee meeting is February 6, 2025, as the January 30 Finance Committee meeting is canceled. More information regarding the compensation initiative, pay upgrades, and details on the superintendent’s proposed FY26 Budget is provided below.

• Presentation to Finance Committee (1/23/25)
• Superintendent's FY26 Proposed Budget School Operating Fund Summary
• Superintendent's FY26 Proposed Budget School Operating Fund Baseline by Account
• Superintendent's FY26 Proposed Budget Teacher Pay Scale Scenarios
• Superintendent's FY26 Proposed Budget Other Pay Scale Scenarios

January 15, 2025, Finance Committee Meeting
Staff shared budget timelines and information for the development for the 2025-26 school year. A preview of the superintendent’s proposed budget was shared. The superintendent will present the FY26 budget proposal to the School Board on Tuesday, January 21, 2025, during their regular scheduled board meeting. Staff also presented the Capital Asset Plan, a plan to prioritize and schedule facilities equipment preventive maintenance and asset replacements. A link to the presentation and supporting documents is provided below.

• Presentation to Finance Committee (1/15/25)
• Capital Asset Plan FY2026-29
• Armel Notice of Federal Interest
• Middletown Notice of Federal Interest

December 4, 2024, Finance Committee Meeting
Staff presented two contract awards for modular buildings to McGrath RentCorp dba Mobile Modular Management Corporation. The contracts are for Jordan Springs Elementary School, at a cost of $675,114, and Middletown Elementary School, at a cost of $789,642.The superintendent recommended the finance committee forward the contract awards to the full Board for approval. Staff provided an overview of the Finance Department's functions, including accounts payable, student activity funds, purchasing, and payroll processes. They also discussed proposed changes to staffing standards. Following the discussion, the Committee voted to recommend the updated staffing ratios to the full Board for approval.

• Presentation to Finance Committee (12/4/24)
• Recommendation for Contract Award for Modulars at Jordan Springs Elementary School
• Recommendation for Contract Award for Modulars at Middletown Elementary School
   

October 7, 2024, Finance Committee Meeting
Staff presented two contract awards for fresh produce to support the school nutrition program - a contract to USA Produce and Seafood, Inc. in the amount of $150,309.90 and to PJK Food Service, LLC dba Keany Produce & Gourmet in the amount of $114,404.89. The awards are being made to the vendors with the lowest bid for each fresh produce line item. The superintendent recommended the finance committee forward the contract awards to the full Board for approval. Staff presented the resolution for the VPSA Educational Technology Funds which provides $544,000 to FCPS and $26,000 to NREP to provide networking equipment, Chromebooks and Laptops. The resolution allows FCPS and NREP to spend the funds now and reimburse themselves in the spring when the funds are received. The resolution will be forwarded to the full Board for approval. Staff then provided an overview of the functions of the Finance Department. Staff also presented activities performed in the finance department including general accounting, budgeting, revenue and accounts receivable, and financial reporting. 

• Presentation to Finance Committee (10/7/24)

August 28, 2024, Finance Committee Meeting
Staff highlighted the FY2025 School Board Approved Budget Document. Staff highlighted pay groups by percentage and associated costs. A recommendation was presented to add full-time equivalents (FTEs) to contracted services. The NREP lease and contract award for nursing and special education student services were discussed.  Staff reviewed the FY2024 Student Activity Fund Audit. No audit findings were reported for the schools. The audit report can be found linked below.  Staff highlighted the athletics financial report for high and middle schools. The athletic financial report can be found linked below. Staff also reviewed the financial results of FY 2024 for all school board financial funds. The FY2024 Year End Financial Statements can be found linked below. The School Operating Fund ended the year with an unobligated surplus of $1,615,212 in which the superintendent recommends using the surplus funds to replace one boiler and resurface the track at Sherando High School, replace a boiler and water heater at Bass-Hoover Elementary School, resurface the tennis courts at Millbrook High School, and if there are any remaining funds, to replace some windows and doors at Orchard View Elementary School. The School Board will consider the superintendent’s recommendation and decide at the next School Board meeting how to use the surplus funds. After the School Board votes on the use of the funds, the request will be forwarded to the Board of Supervisors for final approval. 

• Presentation to Finance Committee (8/28/24)
• 2024 Year-End Financial Statements
• Student Activity Fund Audit
• Athletic Financial Reports
  • FY24 Spring Middle School Report
  • FY24 Spring High School Report