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Introductory Budget Presentation 2023-24

March 2, 2023

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Purpose of Today’s Meeting: To begin conversation about the budget for FY23-24 with Board Members, based on a first draft prepared by the staff. Final budget to be voted on in May ‘23.

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Let’s review:

  • Baxter Academy Assets

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  • Overall Challenges

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  • Overall Budget Context

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  • Priorities and Feedback for First Budget Presentation

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Assets:

  • Talented & Dedicated Staff
  • Positive School Climate
  • Market Demand (wait list this year, restoring budget for 2024-25 with a projected student count of 380)
  • Rebuilding Community of Families
  • Broad Opportunities for New Partnerships

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Overall Challenges for All Maine Schools:

  • Staffing Recruitment/Retention
  • Transportation
  • Inflation
  • Mental Health and Social Impact of Pandemic
  • Increased reporting pressure and stubborn political environment

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Challenges for Baxter Academy:

  • Low enrollment this SY23 year costs us next year
  • Pandemic learning oss
  • Mental/social health issues for students
  • Faculty/staff fatigue
  • Space
  • (and many more…)

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Opportunities:

  • Current enrollment projection for ‘23-24
  • Increased partnerships in the community
  • Increased dual enrollment
  • Increased fundraising
  • Increased alumni and family engagement
  • (and many more…)

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Priorities for 2023-24:

  • Maintain the integrity of all educational programming
  • Promote innovation and leadership within the classroom
  • Expand partnerships for program enrichment and revenue generation
  • Engage families and alumni in program enrichment and problem solving

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How to close deficit holes?

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  • Grow Board of Directors and Strategic Partnerships
  • Strengthen Family/Alumni Network
  • Develop long-term fundraising assets
  • Review contract relationships and job descriptions

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