To provide up-to-date and transparent information about the district’s current financial condition, this is the June 6 Community Budget Update.
Ready for a Reset
This week, Catty Moore was sworn in as interim superintendent. She acknowledged the anxiety and lack of trust in the community around the district’s financial outlook, which includes a deficit for the current fiscal year.
“That is not a small thing. That is a big thing," Moore said. "And it’s a big number. It requires big thinking and – quite frankly – sacrifice, adjustment and what I call a reset. We need a reset on some of this in order to move forward stronger. Once we get that right, the sky’s the limit."
She committed to working in community to move the district’s vision forward.
“We can’t do this work alone," she said. "I believe that our public schools are the foundation of economic prosperity and well-being in every community they exist."
"That position demands respect," she said. "It demands adequate funding, and it also demands that we have a common vision so we can trust each other to do that work. When we do not support our public schools, our communities fail."
Financial Update
Moore will provide the Board of Education and community members a financial update at its next meeting, June 10. She will review steps underway to address the current fiscal year budget and next year’s budget, which begins July 1.
Current Fiscal Year
District staff is working with school finance experts HIL Consultants to close out the 2024-2025 fiscal year. The district will apply $9 million in additional revenue to reduce this year’s budget shortfall to $33 million.
The Board of Education will be asked to consider moving money from a Child Nutrition fund and other funds to support reducing the deficit.
WS/FCS will pay $2.8 million in financial obligations in the next week. This and other vendor payments that will be made between now and June 30 will further reduce the overall deficit.
Next Fiscal Year
Thursday, the Forsyth County Commissioners approved a $180 million local budget for WS/FCS for the next fiscal year. This is an increase over last year’s funding, and is in line with a formula agreed upon by district and county leaders.
WS/FCS has moved forward to begin implementing cost savings for next fiscal year to ensure the total budget is balanced.
Moore will give an update on those items, and go into detail about additional measures being explored. Among the cost-savings under consideration: limiting bus transportation to residential and magnet schools and adjusting the staff allotments at schools.
Collaborating on Solutions
WS/FCS leaders met with Forsyth County, State Board of Education and NC Department of Public Instruction officials on Monday, June 2. They shared information and discussed ideas for potential solutions to resolve the district's financial obligations.
We are grateful for their support as we balance our budget in a way that prioritizes students, staff, and long-term stability.
On Thursday the Forsyth County Commissioners rejected the Forsyth County Board of Education’s request to provide $32.1 million to address the budget shortfall, saying in a letter that this could compromise the county’s long-term financial stability. Commissioners committed to continue to work with school officials to restore fiscal sustainability and accountability.
Past Community Budget Updates