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Petersburg officials unveil FY2027 budget that raises pay while absorbing big insurance and enrollment shocks
Summary
Petersburg City Public Schools proposed an FY2027 budget that funds a large compensation package, absorbs a roughly 28% health‑insurance increase, and manages declining state revenue while planning a $53 million school construction as a one‑time capital investment.
PETERSBURG, Va. — Petersburg City Public Schools presented a proposed fiscal year 2027 budget at a public hearing that prioritizes pay increases for employees while absorbing a steep rise in health‑insurance costs and planning a one‑time $53 million capital project, officials said.
The budget presentation by Dr. Greenwood, PCPS chief financial officer, outlined initiatives totaling $3,000,000 that include a $2,800,000 compensation and classification study implementation intended to provide at least a 3% increase for employees. "The construction of the new school requires $53,000,000 in budget authority," Greenwood said, calling the capital funding a one‑time addition to the capital projects fund rather than an operating increase.
Why it matters: state revenue tied to student enrollment is declining even as…
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