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MVCSC Develops a Sustainable Budget Plan

MVCSC Sustainable Budget Plan

Mt. Vernon Community School Corporation Creates a Sustainable Budget Plan to Prepare for Intended Increment Funding Loss in 2022
 

The Mt. Vernon Community School Corporation (MVCSC) has prepared a Sustainable Budget Plan to accommodate the intended loss of Increment Funds in 2022. This Sustainable Budget Plan has been developed based on in-depth research, including the demographic study completed in December, 2018 which projects MVCSC will continue to maintain a steady and manageable enrollment growth of approximately 150 students per year. This revenue and targeted savings will keep MVCSC financially healthy.

 

Where We’ve Been:

  • When the legislature named MVCSC as a Distressed District in 2010, MVCSC received $3.3M per year in funding annually. This funding allowed MVCSC to maintain financial solvency. These “extra” funds, called the “Increment,” will cease to be available beginning in 2022.

  • Enrollment has steadily increased at approximately 150 students per year since 2014.

 

Where We’re At:

  • A demographic study, completed in December 2018, projects that MVCSC will continue to maintain a steady and manageable enrollment growth of approximately 150 students per year.

  • A sustainable budget based on conservative enrollment projections (100 students per year) has been developed to plan for the Increment dollars to cease in 2022.

 

Where We’re Going:

  • The sustainable budget plan leverages our resources in the most efficient manner and focuses on savings. The targeted areas for savings include: continuing to work with our tech department and operations department’s service/maintenance contracts and software agreements, working with our health benefits broker and district health insurance committee to conduct a deeper cost analysis of our current plans, review staffing reallocations to maximize our operating efficiency, as well becoming more energy efficient. These are just a few examples of how MVCSC can conduct substantial savings to affect the budget.

  • New leadership has refined financial practices and developed new systems and procedures to become more efficient which supports financial solvency.

  • The MVCSC School Board of Trustees is reviewing the student out-of-district policy and analyzing the enrollment projections (demographic study), the Sustainable Budget Plan, building capacities, and other variables. Their decision on the out-of-district policy for the 2019-2020 school year will be made at the April 15 board meeting.





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