Fiscal Year 2023 / Projected Revenue

Sources of Revenue

SUMMARY of STATE FUNDING

State Funding Comparison for Fiscal Years 2022 and 2023

Funding Program	FY 2022^a	FY 2023^b	Variance

Standards of Quality	46,702,446	51,809,561	5,107,115

Incentive Programs	7,793,741	12,099,667	4,305,926
(Less State Grants)	(548,574)	(576,650)	(28,076)

Categorical Programs	73,005	76,456	3,451
(Less State Grants)	(58,392)	(61,704)	(3,312)

Lottery-Funded Programs	6,883,335	8,133,458	1,250,123
(Less State Grants)	(1,320,872)	(1,187,976)	132,896

Total	59,524,689	70,292,812	10,768,123

^a In FY 2022, the Local Composite Index (LCI) for Henry County Public Schools was .2253, and state funding was based on an Average Daily Membership (ADM) of 6,714 students.

^b In FY 2023, the LCI for Henry County Public Schools has been lowered to .2179, and state funding is based upon a projection of 6,657 students in ADM.

SUMMARY of LOCAL FUNDING

Comparison of Local Share of Cost for Fiscal Years 2022 and 2023

Funding Program	FY 2022	FY 2023	Variance

Standards of Quality	11,043,748	11,653,116	609,368

Incentive Programs	1,671,530	2,142,278	470,748

Categorical Programs	0	0	0

Lottery-Funded Programs	1,596,895	1,911,337	314,442

Local Leeway Funding	5,061,604	3,005,888	(2,055,716)

Total	19,373,777	18,712,619	(661,158)

“Local Leeway” is the term given to additional local funds, those given in excess of what is required.

SUMMARY of TOTAL REVENUE

Comparison of Fiscal Years 2022 and 2023 Revenue Sources

Funding Program	FY 2022	FY 2023	Variance

State Accounts	59,524,689	70,292,812	10,768,123

Local Funding	19,373,777	18,712,619	(661,158)

Grants	10,000,000	10,500,000	500,000

Other Revenue	1,712,366	1,712,366	--

Total	90,610,832	101,217,797	10,606,965

Total Revenue Pie Graph for Fiscal Year 2023 - 69.4% State Funding, 15.5% Local Required Effort, 3.0% Local Leeway Funding, 10.4% Special Grants, 1.7% Other Revenue