Prince William County Public Schools approved a $1.5 billion Fiscal Year 2024 operating budget, which will take effect July 1, 2023.
The budget, dependent upon the Real Estate tax rate set by the Board of County Supervisors, is 7% larger than the previous year’s budget. Driving the higher numbers is an anticipated 1,800 more students than the previous year, 5% cost-of-living raises for teachers and substitutes, and new start-up costs for a new elementary school off Prince William Parkway in Woodbridge.
The increase represents about $100 million more for the school to spend in the coming year, while revenues from the state will increase by $30 million.
Prince William County Public Schools (PWCS) is the second largest school division in the state, with more than 90,000 students.
More in a press release:
On the evening of March 15, the School Board approved the Fiscal Year (FY) 2024 Budget. Superintendent Dr. LaTanya D. McDade’s budget prioritized investments aligned with the PWCS Vision 2025 Launching Thriving Futures Strategic Plan. Students and staff are prioritized by the PWCS budget, as an estimated 80% of expenditures are invested in supporting the instructional core: students, staff, and curriculum.
Notably, employees will earn an average 5% pay increase. With a compounding effect over five years, PWCS average teacher salary increase will total 27.3%. The Superintendent will have overseen an 18% increase, compounding effect, in average salaries. In addition to salary increases for FY23, PWCS added $20 million to various salary scales to improve the division’s ability to retain and recruit staff.
Over three years (FY20, FY21, FY22), division employee health insurance did not rise. In FY23, health insurance costs increased by 2% (FY23). For the FY24 budget, PWCS health insurance costs will increase by 3%. In context, nationwide health insurance compounding effect report a 22.6% increase in the past five years: 3% in 2019, 3.4% in 2020, 6.3% 2021, 4.4% 2022, and 5.5% 2023. The division currently pays an estimated 70% of an employee’s health insurance.
To provide context, the average salary increase for teachers is $4,920. If a teacher is enrolled in the Enhanced Family Plan (the most comprehensive insurance plan offered to PWCS employees), the teacher’s salary increase will be reduced by $291, which means the teacher will see a salary increase of $4,629.
Additional investments to the budget support the Unified Sports Program, special education teacher stipends, transportation safety and security, student engagement and non-traditional sports, and a review of coach supplements for athletic and academic competitions.
Funding for the Capital Improvement Program (CIP) focuses on new additions and facilities to address growth, renovation projects for older schools, and advancing sustainability goals.
The Board will now submit the FY 2024 Budget/CIP to the Prince William County Board of County Supervisors with their final approval on April 25. Information on the FY 2024 CIP and Budget may be found on the PWCS Budget website. Uncertainty regarding the state’s final budget, which supplies approximately 47% of the division’s revenue, still may affect PWCS numbers.
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