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The Fairfax County School Board has adopted the Fairfax County Public Schools (FCPS) FY 2016 Approved Budget of $2.6 billion which includes a step increase for all eligible employees and a market scale adjustment of 0.62 percent. The FY 2016 budget is an increase of $53.9 million, or 2.2 percent, over the FY 2015 Approved Budget.
The budget includes an increase in the County transfer to the School Operating Fund of 3.2 percent, or $56.7 million, above the FY 2015 Approved Budget, which is $14.0 million less than requested in FCPS' Advertised Budget. The revenue shortfall is partially offset by an increase in state aid and a reduction in the employer contribution to the Virginia Retirement System. Still, the Board needed to identify an additional $7.6 million in reductions, which was achieved by reducing the planned 1.0 percent market scale adjustment for employees to 0.62 percent. More.
FCPS budget documents have received awards from both the Association of School Business Officials International (ASBO) and the Government Finance Officers Association (GFOA). In fact, FCPS was the first organization in Virginia to receive both of these awards.
January 5, 2016