FY2015 Projected Revenues

$2.523

Billion

Revenue Changes*

*All numbers since FY2014

State Funding            $23.4M

Due To Retirement Cuts

Local Tax                 $134.2M

1% Sales Tax, Real Estate Tax, etc.

Local Non-Tax           $46.6M

Due To Total State Revenue Drop

Federal                  No Change

Only Gives Debt Aid

Other                         $61.0M

Due To Less Hard Capital Sales

Cigarette

The

Tax

Estimated Revenue FY2015

 

    $83M

FY2015 Projected Revenues

TOTAL

 

$2.606

Billion

FY2015 Projected Expenses

$2.814*

Billion

*This IDEAL number would enable the District to accelerate its transformation of schools. However, as a part of the District's commitment to spend within its means, it has prepared the following alternative budget.

Expense Changes

District Schools        $148.2M

Since FY2014

Charter Schools               61%

Since FY2011

Debt Services                  56%

Since FY2012

Out of District        No Change

Administrative Support

Since FY2011, there has been a 46% staff reduction in the central office.

Undistributed Budget Adjustments

$70M

Gap Closing Reductions

$96M

FY2015 Projected Expenses

TOTAL

 

$2.495

Billion

FY2015 Ideal Expenses

 

$2.814

Billion

FY2015 Budgeted Expenses

 

$2.495

Billion

 

 

$319 Million Short of Adequacy

How We Got Here

2011

2012

2013

2014

2015

 

Before The Fall

$2.8B in both revenues and expenses.

*Same as current ideal expenses.

 

Pennsylvania decreases state funding for first time in 18 years

Revenues drop to 2.35B while expenses drop to 2.45B

This was accomplished mostly via layoffs and school closings

PSD borrows $300M in effort to stay afloat

Revenues jump to 2.65B and expenses rise to 2.55B

PSD requests $180M from state for FY2014

PSD pledges to alleviate $133M in labor concessions for FY2014

Total amount required is $313M

Pennsylvania grants $112M increase in funding

This is $68M short of request and $201M short of total

PSD is forced to close a record number of schools (24)

PSD is forced to perform a record number of layoffs (3,800)

Revenues drop to $2.45B and expenses stay at $2.55B

Today

Revenues projected to rise to $2.6B due to cigarette tax, 1% sales tax, real estate tax, and cuts in retirement.

Expenses projected to drop to $2.5B insuring more cuts

31 Schools Closed

 

5,000 Layoffs

How Funds Are Used

District Operated Schools FY2015

Who Is Affected?

206,567 Students

8,483 Teachers

304 Schools

88.8%

of PSD Students

Are Under

The Poverty Line

Pennsylvania State Average Is 43.6%

Lowest Allocation For PSD School

Lingelbach Elementary in Germantown

$160

$0.40/student

This information was compiled and created by Matthew Leister, Kathryn Stellato, and Brianna Spause

The School District of Philadelphia FY2015 Budget In Brief

http://webgui.phila.k12.pa.us/uploads/dP/rA/dPrAVit1k8Xa4CJXcyxemQ/FY2014-15-Consolidated-Budget.pdf

Created by Temple University's Photography Seminar class of 2015