2009-2010 Proposed Budget

UFTE 7,998.13 (Unweighted Full Time Equivalent Students) X Cost Factors= WFTE 8,491.87 (Weighted Full Time Equivalent Students)

FEFP

WFTE 8,491.87X BSA $3,630.62 (Base Student Allocations)

X DCD 1.0083 (District Cost Differential)

= Base FEFP $31,086,648

FEFP

BASE FEFP $ 31,086,648 + Declining Enrollment Supplement 0.00

+ ESE Guaranteed Allocation 2,977,472 +Supplemental Instruction

1,728,525+ Summer Reading Allocation 378,542+ Safe Schools 338,152 + DJJ Supplement 4,133 + Merit Award 3,857

= SUBTOTAL $36,517,329

FEFP

FEFP

• New this year – State adds 3 categoricalsto the FEFP calculation:

• Subtotal $36,517,329• TRANSPORTATION 1,150,548• INSTRUCTIONAL MATERIALS 674,340• TEACHER LEAD PROGRAM 102,881• ARRA FUNDING 2,773,307• TOTAL FEFP $41,218,405

But – this year….

• State uses American Recovery and Reinvestment Act (ARRA ) Funding to reduce the state’s portion of FEFP.

• State FEFP - $4,114,988• Less ARRA Funds ($2,773,307) and

proration for revised appropriations ($60,279)

• Net State FEFP Funding - $1,281,402

FEFP

• State breaks its bargain with the 90% districts which said that no district would ever be required to raise more than 90% of its education funding locally.

• Monroe forced to contribute 97% through local taxes and raise 97% of three categoricals that formerly were 100% funded by the state.

FEFP

• TOTAL FEFP $41,218,405• = RLE (Required Local Effort) $37,103,417• = State FEFP $1,281,402• = State deduction for revised Appropriations $60,279• = ARRA FEDERAL STABILIZATION GRANTS $2,773,307

Monroe County

Property Value $23,247,754,922

÷ Millage Factor 1,000X State School Law Millage Rate 1.680

X Discount Percent .95%

= RLE (Required Local Effort) $ 37,103,417

FEFP

FEFP

• New this Year – An addition to the RLE• Prior Period Funding Adjustment Millage

• Property Value $23,247,754,922• X Prior Period Millage .008• = At 95% $82,283• = Total RLE $37,280,099

Local Board

Millage Proceeds1

Voted Millage .500 $11,042,683 Discretionary .699 15,437,672 Total Operating $26,480,355 Capital Improvement .500 11,042,683 Total Local Board 1.699 $37,523,038

Reduced by 5%.

FEFP

State Money Includes:Lottery $ 485,211(No discretionary LotteryFunding in 2009-2010.)Class Size Categorical $8,756,663State FEFP $1,281,402 Total State Funding: $10,523,276

FEFP

LOCAL FUNDING $63,760,454 (Property Tax1)STATE FUNDING 10,523,276 (Sales Tax and Lottery)Total Operating $74,283,730

1 Does not include capital mill, but, does include voted half mill

FEFP

Millage Comparison

ACTUAL PROPOSED  

2008-2009 2009-2010 Incr(Decr) %

Assessed Valuation

$26,715,033,370

$23,247,754,922

$(3,467,278,448)

-13.0%

Required Local Effort (RLE) 1.3940 1.688 0.294

Local Discretionary 0.4980 0.699 0.201

Supplemental Discretionary 0.0300 0.00 -0.030

Additional-Voting Operating 0.5000 0.500  

Total Operating Millage 2.4220 2.877 0.465

Local Capital Improvement 0.5000 0.500  

Total School District Millage 2.9220 3.387 0.465 15.9%

Millage• Rollback Rate: 3.411 • The rate that would raise the same

amount of funding that was raised the previous year, but with this year’s property values. Generates $75,333,187 @ 95%

• Proposed rate: 3.387, which is .7% of a percent below rollback.

• Generates $74,803,139 @ 95%.

Tax on Property

Taxable Value from DR420-S Certification of School Taxable Value

Current Yr Property at Taxable Value 23,247,754,922

New Property added to Tax Rolls 360,885,181

Prior Yr Property at Current Year Tax Value 22,886,869,741

Prior Yr Property at Prior Year Tax Value 26,715,033,370

Change in Tax Value (3,828,163,629)

Percentage Change in Tax Value -14.33%

Millage Rates from DR420-S Certification of School Taxable Value

Current Yr Millage Rate

3.387

Prior Yr Millage Rate

2.922

Change in Millage Rate

0.465

Percentage Change in Millage Rate 15.91%

Tax on Property

Tax on Property

Tax On Homesteaded Property

       

2008-2009 2009-2010 Incr(Decr) %

Assessed Value (Sample) $ 500,000.00 $ 428,000.00 $(72,000.00) -14.40%

Less: Homestead Exemption 25,000.00 25,000.00 -  

Taxable Value 475,000.00 403,000,00 (72,000.00) -15.16%

Tax Rate 2.9220 3.387 0.4650 15.91%

School District Tax $ 1,387.95 $ 1,364.96 $ (22.99) -1.66%

Tax On Non-Homesteaded Property         

2008-2009 2009-2010 Incr(Decr) %

Assessed Value (Sample) $ 500,000.00 $ 428,000.00 $ (72,000.00) -14.40

Less: Homestead Exemption     -  

Taxable Value 500,000.00 428,000.00 (72,000.00) -14.40

Tax Rate 2.922 3.3870 0.4650 15.91

School District Tax $ 1,461.00 $ 1,449.64 $ (11.36) -0.78

Tax on Property

Additional sources of operating revenues are:

•Workforce Development•Voluntary Pre-K•Daycare Fees•Interest Revenue•Federal: Impact Aid, Key Deer Refuge, Medicaid

Budget Highlights

•Maintains a fiscally sound unreserved fund balance of $6.8M which is 8.25% of total expenditures. This is greater than AG recommended 2.5% and District’s own policy of 5%.•Includes $8.7M in funding to meet Class-size reduction goals.

Budget Highlights

•Provides $75 per FTE to schools for discretionary spending.•Continues to provide a nurse for every school.•Continues to support academic after school programs and band/music/art programs.

Budget Highlights

Budget reductions were made to minimally impact direct instructional activities:

Program specialists were reassigned to classroomsReduction in Force applied to administrative staffContinued hiring freeze on non- academic positions.Renegotiated insurance premiums.Energy savings in schools and ancillary buildings.

Budget Reductions

Questions?

Budget Presentation