APS school board reviews budget proposal
The Albuquerque Public Schools board is scheduled to vote on the budget for the upcoming financial year.
During the previous board presentation in April, the district had outlined its intention to put forward an operational spending budget of approximately $928m for the upcoming financial year. This represents a notable increase of approximately $114m compared to the previous year's budget.
In the previous fiscal year, the district encountered a budget deficit of approximately $10m. However, according to Rosalinda Montoya, the Executive Director of Budget and Strategic Planning, the district is expecting to reduce the deficit to approximately $6m for the current fiscal year. Montoya went on to say:
For the upcoming fiscal year, the district foresees that it will require $927.6m for operational expenses, compared to the $813.6m spent in the previous fiscal year. About 75% of the funds will be used by schools and a bit more than $250m will be spent on departments and other district-related costs. Department budgets are usually printed on documents that feature the department’s official letterhead.
According to Chief Financial Officer Rennette Apodaca's statement in April, approximately 90% of the district's operational costs are projected to be used on employee salaries. The number of enrolled students in a district plays a significant role in determining the amount of funding the state gives it.
During the previous board presentation in April, the district had outlined its intention to put forward an operational spending budget of approximately $928m for the upcoming financial year. This represents a notable increase of approximately $114m compared to the previous year's budget.
In the previous fiscal year, the district encountered a budget deficit of approximately $10m. However, according to Rosalinda Montoya, the Executive Director of Budget and Strategic Planning, the district is expecting to reduce the deficit to approximately $6m for the current fiscal year. Montoya went on to say:
“We are starting (fiscal year) ’24 in better shape than we did (fiscal year) ’23.”
For the upcoming fiscal year, the district foresees that it will require $927.6m for operational expenses, compared to the $813.6m spent in the previous fiscal year. About 75% of the funds will be used by schools and a bit more than $250m will be spent on departments and other district-related costs. Department budgets are usually printed on documents that feature the department’s official letterhead.
According to Chief Financial Officer Rennette Apodaca's statement in April, approximately 90% of the district's operational costs are projected to be used on employee salaries. The number of enrolled students in a district plays a significant role in determining the amount of funding the state gives it.