School Board Members

Transcription

1 July 29,

2 School Board Members Carol W. Kurdell, Chair Susan L. Valdes, Vice Chair Doretha W. Edgecomb April Griffin Candy Olson Cindy Stuart Stacy R. White, Pharm.D. 2

3 The education of children is a fundamental value of the people of the State of Florida. It is, therefore, a paramount duty of the state to make adequate provision for the education of all children residing within its borders. Adequate provision shall be made by law for a uniform, efficient, safe, secure, and high quality system of free public schools that allows students to obtain a high quality education. Florida Constitution Article IX, Section 1 3

4 Legislative Requirements: 1) What is TRIM? 2) What is the Rolled-Back Rate? 3) What is a Property Tax Millage Rate? 4

5 Definitions: What is TRIM? TRIM timelines are very prescriptive in Law; TRIM clock starts July 1 or Date of Certification; Total timeline to Budget Adoption is 80 days; Two Public Hearings required during time; Submittal of adopted Budget and Millage 5

6 Definitions: What is the Rolled-Back Rate? The Rolled-Back Rate is the millage rate that would raise the same amount of revenue as last year if applied to the current tax roll. 6

7 Rolled-Back Rate 2013 Property Values: $69,568,964,523 billion Required Legislative Millage Rate of generated $513,585, Property Values: $74,647,722,426 billion Rolled-Back Millage Rate of would generate $534,985, Property Values: $74,647,722,426 billion Required Legislative Millage Rate of estimated $526,929,317 7

8 Definitions: What is a Property Tax Millage Rate? A millage rate or mill levy of $1.00 per $1,000 of taxable property value. 8

9 Florida Education Finance Program (FEFP) The Florida Department of Education certifies the State Required Local Effort (RLE) Millage rate that must be levied by the School Board to generate the required local share. The School Board must impose the established Millage rate in order to obtain the state share of funding for the district. 9

10 Proposed Millage Rate for FY : Proposed State Required Local Effort Discretionary Operating Supplemental Sub-Total Debt Service Discretionary Capital Outlay Total Millage Levy

11 How are my taxes computed? Assessed Value 200,000 Homestead Exemption -25,000 Taxable Value 175,000 Taxable Value 175,000 Divided by 1, x Millage Rate Property Taxes $1, Remitted for School Funding 11

12 Property Appraiser Information Hillsborough County Property Appraiser 601 E. Kennedy Blvd County Center, 15 th Floor Tampa, FL Telephone Fax 12

13 Definitions: Market Value Assessed Value Assessment Reductions Exemptions Taxable Value 13

14 So what does this mean? The average family will pay $1, in property taxes on a home assessed at $200,000 earmarked for the public schools in Hillsborough County. Over the course of one year, this averages out to less than $3.54 a day. 14

15 The $3.54 per day pays for: Teachers, Guidance Counselors, school staff Utilities Electric bill, water bill, telecommunications Fuel for yellow school buses Technology in classrooms Lab equipment for science classes Building repairs, renovations, improvements 15

16 Estimated Revenue Internal Service Fund Capital Fund Debt Service Fund General Operating Fund Federal/SNS 16

17 Hillsborough County Public Schools We are: Students Employees Facilities Community 17

18 How Are the Dollars Spent? Curriculum & Professional Development = 2.92% District Services = 2.19% (Human Resources, Payroll, General Administration, Central Services, Administrative Technology Services) School Level Services = 94.89% (Instruction, School Administration, Counseling, Psychological Services, Community Services, Maintenance, and Transportation) 18

19 Public Discussion Do you have questions or comments? We are ready to assist in any way we can. It s important that you know how much we appreciate your commitment to the students in our community. 19

20 Recommendations Adopt the Proposed Individual Millage Rates as follows: State Required Local Effort Discretionary Operating Local Capital Outlay Debt Service Total Millage Rate mills mills mills mills mills 20

21 Recommendations 1) Adopt the Tentative Budget of $2,883,918, ) Approve the Resolutions Adopting the Tentative Millage Rates and Tentative Budget 3) Approve the Procedures for Expenditure of Lottery Funds 4) Authorize staff to perform all tasks necessary to ensure compliance with the Truth in Millage (TRIM) requirements of Chapter , Florida Statutes. 21

22 Final Public Hearing The Final Budget Hearing: When: Tuesday, September 9, 2014 Time: Where: 5:01 p.m. Raymond O. Shelton School Administrative Center (ROSSAC) 901 East Kennedy Blvd. Tampa, Florida 22

23 On behalf of our students and teachers THANK YOU! 23