Fulton school board tentatively adopts a $2.3 billion budget

The Fulton County Board of Education tentatively approved an approximately $2.3 billion FY2025 budget that includes a 4.5% pay increase for all eligible employees.

The pay increase and a step increase for eligible employees increased the salary line by $56 million. The school district also increased its contributions for retirement and health care benefits, Chief Financial Officer Marvin Dereef said in a May 16 presentation to the school board.

The budget puts $24.4 million in funding into the General Fund for instructional coaches and summer learning costs. This helps the school district transition funding for those initiatives out of the Elementary and Secondary School Emergency Relief funding, which is coming to an end.

“We are tentatively recommending a slight reduction in the millage rate to 17.13,” Dereef said. “We will address any additional changes to the millage rate once we receive the tax digest data from the Fulton County tax office.”

According to Dereef’s presentation, Fulton County Schools has one of the lowest millage rates for metro Atlanta school districts.

The tentative budget sets its fund totals as follows:

• General Fund – $1,422,055,825
• School Nutrition Fund – $57,085,647
• Special Revenue Fund – $92,314,586
• Capital Program Fund – $660,668,166
• Pension Fund – $42,099,757
• Student Activity Fund – $19,255,290
• Total – approximately $2.29 million.

The school board has scheduled the adoption of the 2024-2025 final budget for Tuesday, June 11.

Details of the tentative budget, including budgeted salary schedules, all provisos, School Allotment Guidelines, and the five-year capital program are in the FY25 Budget Book and can be found online .  Dereef explained the budget process in a “Let’s Talk Schools” video also posted online.

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