To provide up-to-date and transparent information on the district’s financial condition, WS/FCS will publish regular Community Budget Updates. See the first update below.
Background
As a result of a decline in enrollment and a reduction in state and federal funding, WS/FCS is facing a budget shortfall for this year and next year. The district did not adequately plan for these reductions in funding. We are taking immediate and corrective action to minimize the impact to students and schools.
The district is working with NC DPI as it resolves this issue. Maintaining the financial health of WS/FCS is essential as we strive to support student achievement. Responsible stewardship of public dollars is — and will continue to be — a district priority.
Budget Update: May 23
Balancing the Fiscal Year 24-25 Budget
The district is working with school finance experts HIL Consultants to balance the budget for this fiscal year, which ends June 30. The current estimated shortfall is approximately $42 million, meaning the budget has been overspent by about 5.3 percent. This figure is expected to decrease as the district continues to identify savings and works to close out the fiscal year.
The district anticipates using all its unrestricted fund balance — similar to an emergency savings account — to assist in covering expenses. District leaders are also actively working with Forsyth County on options to repay money owed to the state.
Cost Savings for Fiscal Year 25-26
WS/FCS has been working to identify $36.3 million worth of savings for next year’s budget. Of the total, $23.3 million in savings has already been identified.
This week, the Board of Education got a preview of other savings ideas suggested by staff across the district. Ideas included changes to class sizes and transportation options. Read more about those options on our website.
Families that use bus transportation to attend a choice school were sent a survey to share their feedback. The input will be shared with the board Tuesday evening, at its regular meeting, when the discussion about budget cuts will continue.