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Five Year Financial Plan

 

Valued Stakeholders,

Our district has made significant financial improvements due to the commitment of so many on #TeamFairview to a #FutureFocused vision where we each (students, educators, families, alumni, and community) work daily to be our absolute best in everything we do in Fairview Independent.

We’re grateful that our five year financial plan will not only allow continued financial success, but also allow us to enter into a new fiscal year (FY) with a continued focus on strategic planning where more and more needs are prioritized and included in our budget.

We want to communicate with you the financial details of our five year plan and have included them in the attachment. Some important details included in the plan:

- Our ending balance has increased from $227,000 in FY ending 2018 to $829,000 in FY ending in 2019 to projected at just over $1,000,000 in FY ending 2020, and $1.7 Million in FY ending 2021 (includes the salaries of the positions noted in the next bullet and spending on new budgeted prioritized needs)

- 11 new positions have been added to our staffing

- $84,000 received from local tax payers in nickel tax receipts received this year for the first time and each year going forward

- $180,000 projected to receive from the state in FY2023 with the General Assembly’s decision this past session to equalize our recent nickel tax

- No local property tax increase this upcoming year from the school district and the district receiving the same amount in property tax receipts as we received this past year

- Budgeting $0 in utility tax receipts in the FY2020 budget from AK Steel that has decreased every year and was just at $238,000 in receipts received in FY2018

- Receipts of a $30,000 and $100,000 donation, in which the $100,000 donation was immediately invested to start drawing interest

- Paying off two bonds debts, one in FY2020 and one in FY2021

- The district not taking out the $200,000 loan last year with the previous passing of House Bill 270 when we weren’t certain the funding would not be necessary to move forward

- None of the receipts of the almost $1,000,000 literacy grant we recently received and will come over the next four years are included in these financials as the grant has strict spending requirements where funds are earmarked for adding additional literacy resources for students and professional learning opportunities for staff.

Please read the attached 5 year plan for additional details. This is evidence of positive outcomes in Fairview when we work together as a team and put into place action with a focus on a common vision, and know each of us on #TeamFairview contribute to the future success of our district. We thank you greatly for the part you play in all of our past, current, and future success. This celebration of success that will positively impact our students is because of you!

#TeamFairview 

 

Five Year Plan

Five Year Plan1





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