Skip To Main Content

Budget FAQs

What does the budget look like for the 2023-2024 school year?

The Assistant Superintendent of Business Services presented the 2023-2024 budget at the May 23, 2023 Board of Education Meeting. For a full review of the 2023-2024 school year budget, please click below.     

      2023-2024 Budget          2023-2024 Budget Presentation


What is the LCAP, how does it relate to the budget and LCFF?

The Local Control Accountability Plan (LCAP) is the requirement of a District to develop a three-year plan utilizing Supplemental and Concentration funds generated by the unduplicated count of Low-Income, EL and Homeless/Foster Youth. FMSD is mostly comprised of students who fall under 1 or more of these categories and thus, have the flexibility to utilize LCAP funding for all students District-Wide. To develop the LCAP, FMSD must engage multiple stakeholders including parents, students, educators, employees, and community members. The LCAP focuses on eight priority areas identified by the state. The three-year plan will demonstrate how the District’s budget will help achieve the established goals, and will be assessed each year how well the strategies in the plan were able to improve academic outcomes.

What is the General Fund and what is the size of Franklin-McKinley School District’s General Fund?

“General Fund” refers to the accounting term used by the state and school districts to differentiate general revenues and expenditures from those placed in separate budget categories for specific uses.  

What is Fund Balance and Reserve? Why does the District hold money here?

Fund Balance represents the starting and ending points of each year’s financial activity. It also represents a crucial parameter for financial planning and budgeting, indicating fiscal solvency of the District. California state law requires that every school district of our size hold at least 3% of its overall general fund expenditures in an unrestricted reserve, and the amount varies by district size.

Is Franklin-McKinley School District’s budget audited?

Yes. Our District is required to have its budget audited annually by an independent firm. The Santa Clara County Office of Education also reviews our annual budget as part of its legal responsibility for fiscal oversight of county school districts.