Proposed Tentative Budget. First Public Hearing

Transcription

1 Proposed Tentative Budget First Public Hearing August 1, 2013

2 Presentation Outline Proposed Millage Budget Information Enrollment Projections Operating Capital Timeline Format of Budget Books Next Steps Q&A 2

3 Brevard s Tax Roll Growth & Decline Fiscal Year Tax Roll % Change ,910,272, ,924,947, % ,316,371, % ,695,633, % ,087,435, % ,334,959, % ,060,244, % ,311,747, % ,927,287, % ,345,104, % ,725,460, % ,390,012, % ,812,038, % * 27,457,119, % ^ 28,725,623, % Source: Comprehensive Annual Financial Reports (CAFR), except for the following: * Adjusted Final Taxable Value as of March 15, 2013 ^ Certified Taxable Value by Property Appraiser on June 26,

4 Brevard s Tax Roll Growth & Decline Fiscal Year Tax Roll % Change ,812,038, % * 26,446,211, % # 27,206,326, % & 27,502,891, % > 27,457,119, % ,304,137, % < 28,485,478, % ^ 28,632,714, % = 28,725,623, % * Taxable Value on FEFP 1 st Calculation dated March 6, 2012 # Estimated by Property Appraiser on May 30, 2012 & Certified Taxable Value by Property Appraiser on June 21, 2012 > Adjusted Final Taxable Value as of March 15, Taxable Value on FEFP 1 st Calculation dated April 29, 2013 < Property Appraisers Preliminary Estimates dated April 30, 2013 ^ Notice of Estimate for the 2013 Tax Roll dated May 30, 2013 = Certified Taxable Value from Property Appraiser on June 26,

5 Tax Roll History and Projections 45,000,000,000 40,000,000,000 35,000,000,000 30,000,000,000 25,000,000,000 20,000,000,000 15,000,000,000 10,000,000,000 Note: Numbers reflect those listed on slide 3 for years through Years through have been projected to reflect the first time the tax roll is expected to exceed the level. 5

6 Tax Roll Changes vs Of the 67 School Districts in Florida: 20 districts decreased (between 0.07% and 6.25%) 47 districts increased (between 0.08% and 12.20%) Statewide average is +3.47% Brevard s increase of 4.45% is 11 th highest in the state Sources: Florida Education Finance Program (FEFP) 4 th Calculation Florida Education Finance Program (FEFP) 2 nd Calculation 6

7 History of School Board Millage Levy Fiscal Year Total Millage Difference % % % % % % % % % % % % % % % % Difference Since % Note: Each year the Board has levied the maximum allowed by law without voter referendum. 7

8 Proposed Millage Changes Required Local Effort (RLE) mills Millage required by the State to be levied If not, would receive no Federal, State, or Local dollars requirement of mills, plus Prior Period Funding Adjustment (year ) of mills mills generates $147,507, mills generates $245,235 RLE comprises 70% of the total proposed millage levy 8

9 Proposed Millage Changes Discretionary Millage mills Legislation mandated transfer of mills from Capital to Operating Legislation authorized to transfer mills from Capital to Operating optional Attempt of Legislature to hold total millage at same level, but used to balance Operating Budget This budget assumes will still move mills from the Capital Projects Fund to the Operating Fund Currently subject to Compression by the State State guarantees average per FTE of $ State will provide Brevard $88.75 per FTE or $6,176,155 Without compression mills generates $20,627,295 9

10 Proposed Millage Changes Capital Outlay Millage mills Legislation mandated transfer of mills from Capital to Operating Legislation authorized to transfer mills from Capital to Operating optional Attempt of Legislature to hold total millage at same level, but used to balance Operating Budget This budget assumes will still move mills from the Capital Projects Fund to the Operating Fund If millage not moved, Operating would lose approximately 1/3 (or $2.1 million) of the Discretionary Millage Compression from the State mills generates $41,364,897 10

11 Proposed Millage Operating - Required Local Effort - Local Discretionary - Critical Needs Capital Outlay Total Millage Actual Proposed Increase/ Decrease

12 Rolled-Back Rate Details The rolled-back rate is the new year property tax levy that would (after the value of new construction is deducted) produce the same amount of revenue as the previous year (but using this year s tax roll) Total Actual Millage Total Rolled-Back Rate Total Proposed Millage The Proposed Millage rate is: 2.43% lower than the Rolled-Back Rate 6.05% lower than the Actual Millage 12

13 Proposed Millage vs. Rolled-Back Operating - Required Local Effort - Local Discretionary Capital Outlay Total Millage Rolled-Back Proposed Increase/ Decrease

14 Tax on Residential Home Scenario #1 Assumes no change in assessed valuation of $100,000 home Home Value $100,000 Less Homestead Exemption -25,000 Taxable Value of Home $75,000 Taxes Paid in $ Taxes Proposed for $ Tax Decrease for $

15 Tax on Residential Home Scenario #2 Assumes 1.7% ($1,700) increase in assessed valuation of $100,000 home Home Value $101,700 Less Homestead Exemption -25,000 Taxable Value of Home $76,700 Taxes Paid in $ Taxes Proposed for $ Tax Decrease for $

16 Tax on Residential Home Scenario #3 Assumes 10% ($10,000) increase in assessed valuation of $100,000 home Home Value $110,000 Less Homestead Exemption -25,000 Taxable Value of Home $85,000 Taxes Paid in $ Taxes Proposed for $ Tax Increase for $

17 Millage Decrease & Tax Roll Increase Millage Tax Roll Dollars Generated Difference $27,457,119,387 $28,725,623,018 $1,268,503,631 $213,401,125 $209,747,605 -$3,653,520 Operating: -$2,932,999 Capital: -$720,521 By law, additional dollars are calculated at 96% collection rate 17

18 Proposed Tentative Budget Amended Proposed Difference % Operating 535,249, ,230,596 5,980, Special Revenue 84,438,364 86,733,978 2,295, Debt Service 43,039,254 42,497, , Capital Outlay 96,659,914 88,925,982-7,733, Enterprise Fund 8,293,039 8,131, , Subtotal 767,680, ,520, , Less Transfers 42,749,603 39,737,919-3,011, Total 724,930, ,782,400 2,851, Internal Service 80,002,105 76,512,108-3,489,

19 Student Growth/Decline Year Membership Number Percent , , , ,912 1, ,216 1, , , , ,000-1, , , , , * 72, * Projected for

20 History of Student Membership Year Total District Charters ,658 69,608 1, ,625 70,212 1, ,533 70,957 1, ,912 72,150 1, ,216 73,099 2, ,062 73,230 2, ,676 72,210 3, ,235 72,215 3, ,000 70,951 3, ,352 70,152 3, ,913 69,459 3, ,906 70,320 2, ,526 69,997 2, * 72,743 69,033 3,710 * Projected for

21 Students with Parents Working at KSC or CCAFS Historical Totals Year KSC CCAFS Total ,633 1,571 7, ,174 1,565 6, ,025 1,440 6, ,935 1,355 6, ,619 1,231 5, ,941 1,152 5, ,707 1,147 3, , ,432 Note: From to , there was a decrease of 422 (-10.95%) 21

22 History of Change in Employee Positions Actual vs. Proposed Actual Proposed Change Positions Number Percent Classroom Teachers 4, , Instructional Support Instructional Assistants Support - School-Level 2, , Administrators - School-Level Support - District-Level Administrators - District-Level Total 9, , Membership 69,997 69, FTE 68, , , Notes: 1. Excludes Adult Education Teachers/Other 2. District-Level Administration will be reduced to on 11/1/13 3. All numbers exclude charter schools 22

23 Head Start Employee Positions Positions Classroom Teachers Instructional Support Instructional Assistants Support - School-Level Administrators - School-Level -- Support - District-Level Administrators - District-Level -- Total

24 History of Change in Employee Positions Actual vs. Proposed Without Head Start Actual Proposed Change Positions Number Percent Classroom Teachers 4, , Instructional Support Instructional Assistants Support - School-Level 2, , Administrators - School-Level Support - District-Level Administrators - District-Level Total 9, , , Membership 72,215 68,409-3, FTE 70, , , Notes: 1. Excludes Adult Education Teachers/Other 2. District-Level Administration will be reduced to on 11/1/13 3. All numbers exclude charter schools 24

25 Operating Budget Revenue Amended Proposed Difference % Federal 2,584,386 2,584, State - FEFP 198,781, ,789,908 30,008, State - Categoricals/Other 91,159,791 91,831, , Local - Property Taxes 174,152, ,379,753-5,772, Local - Other 7,422,269 5,625,190-1,797, Total Revenue 474,100, ,211,175 23,110, Other Sources 1,299,035 1,299, Fund Balance 59,850,051 42,720,386-17,129, Grand Total 535,249, ,230,596 5,980,

26 FEFP Funding Issues Base Student Allocation (BSA) $3, Since increase of $ or +4.73% Since start of decrease of $ or -8.03% District Cost Differential (DCD) Increase of or +0.29% BSA times DCD $3, Since increase of $ or +5.03% Since start of decrease of $ or -5.76% 26

27 Base Student Allocation & District Cost Differential Fiscal Year BSA DCD BSA * DCD Difference , , , , , , , , * 4, , , , * 3, , , , , , , , , , ^ 3, , * 3, , Source: Final FEFP Calculation for each year except as follows: * 2 nd FEFP Calculation ^ 4 th FEFP Calculation 27

28 Capital Projects Revenues Estimated Proposed Difference % PECO-New Construction PECO - Maintenance Other-State 549, ,000-39, Local Revenue 39,688,252 46,523,351 6,835, Total Revenues 40,238,209 47,033,351 6,795, Other Sources 5,716,796 3,100,000-2,616, Fund Balance 50,704,909 38,792,631-11,912, Total 96,659,914 88,925,982-7,733,

29 Capital Projects Expenditures Project Amount Remodel/Renovation/Maintenance $6,171,457 Food Services Maintenance $200,000 Health and Safety Projects $150,000 Portable Relocation $150,000 Up to 10 School Buses $1,000,000 Refreshment & Other Technology $4,250,000 Repair at Failure $2,560,000 COP Payment $33,322,104 Other Various Capital Projects $2,329,790 Total Capital Projects Funded with New Dollars $50,133,351 Capital Projects/Debt Funded by Fund Balance $38,792,631 Grand Total $88,925,982 29

30 Timeline November 9 Facility Workshop (School Closures Announced) December 14 Submitted FTE (Student) Projections to State December 21 Budget Workshop Proposed Budget Cuts and Revenue Enhancements February Four (4) Community Forums March 12 Board Approves Proposed Budget Cuts and Revenue Enhancements May 3 Florida Legislative Session ended June 27 Board Approves Revised List of Proposed Budget Cuts and Revenue Enhancements 30

31 Timeline (cont.) June 27 Preliminary Budget Workshop July 27 Newspaper advertisement for 1st Public Hearing August 1 First Public Hearing to Adopt Tentative Budget and Millage, 5:30 p.m. at Educational Services Facility Third week of August Proposed Tax Notices mailed by Tax Collector to property owners, which also advertises the 2nd (Final) Public Hearing September 5 2nd Public Budget Hearing to Adopt Final Budget and Millage, 5:30 p.m. at Educational Services Facility 31

32 Format of Budget Books Provided for comparison purposes Prior year being compared to new year : Adopted Budget (9/6/12) Amended Budget (as of 5/31/13) : Proposed Tentative Budget (8/1/13) Percent of total for each column has been included in the book for easy reference. Note: Budget books dating back to are available in the reference section of all Brevard public libraries. 32

33 Format of Budget Books Reminder that new salary object codes are being utilized in the Operating Budget (see page 15) All information will be updated for the Final Public Hearing on September 5 th Automated Labor updated for Actual Year-End Budget and Expenditures for Actual Fund Balance Information for Additional pages still provided for ARRA (Special Revenue Funds) to reflect Race to the Top dollars 33

34 Contact Information If you should require additional information, please contact: Judy Preston Associate Superintendent, Financial Services , ext. 600 Karen Strickland Director, Planning, Budgets, and Reporting , ext. 610 Jo Ann Clark Director, Accounting Services , ext. 660 District Website: 34

35 uestions nswers