Public Hearing FY 2019 Tentative Budget July 31, 2018

Transcription

1 Public Hearing FY 2019 Tentative Budget July 31,

2 Agenda Presentation of proposed millage Presentation of proposed budget Superintendent s comments Public comments Board discussion Adoption of total millage Adoption of Tentative Budget and establishment of date for final hearing 2

3 Property Taxes Residential Commercial Buildings 3

4 Property Taxes Just Value (Property Appraiser) Less: Save Our Homes Cap (Legislature) Equals: Assessed Value Less: Exemptions (Legislature) Equals: Taxable Value Times: Millage Rate (Legislature and Board) Equals: Property Taxes 4

5 200.0 EDR Estimates Orange Taxable Values as of January In Billions

6 Millage Rate Comparison Description Change Required Local Effort (0.171) Discretionary Additional Voted Millage Subtotal Operating (0.171) Capital Projects Total Millage (0.171) 6

7 OCPS Millage Rates Required Local Effort Critical, Sp. Millage Sp. Millage RLE Cap Millage Disc Mill FY FY FY FY FY FY FY FY FY18 Cap. Millage Disc. Mill FY

8 Rolled Back Rate Current Year Taxable Values Less: New Construction and Additions Equals: Current Year Adjusted Taxable Values Times: Rolled Back Rate (millage rate) Equals: Prior Year Tax Proceeds 8

9 Rolled Back Rate Required Local Effort 2.38% over the rolledback rate Total Millage 4.25% over the rolled back rate 9

10 Homeowner Impact with Save Our Homes Home Just Value Prior Year $ 182,689 Less Homestead Exemption $ 25,000 Taxable Value Prior Year $ 157,689 Taxes Paid Prior Year $ 1,178 Home Just Value Current Year $ 186,000 Less Homestead Exemption $ 25,000 Taxable Value Current Year $ 161,000 Taxes Proposed Current Year $ 1,175 Net Change in Taxes $ (3) 10

11 Commercial Owner Impact Property Just Value Prior Year $ 937,207 Less Homestead Exemption $ Taxable Value Prior Year $ 937,207 Taxes Paid Prior Year $ 7,001 Property Just Value Current Year $ 1,000,000 Less Homestead Exemption $ Taxable Value Current Year $ 1,000,000 Taxes Proposed Current Year $ 7,299 Net Change in Taxes $

12 Proposed Annual Budget

13 Timeline of Budget Process Community input and legislative priorities Fall Governor s Budget November Final EDR Forecast January Legislative Session January through March Budget Committee meetings January through March Initial school allocations March Board work sessions March, May, and June Proposed millage and budget advertised July 29 Public hearing July 31 Public hearing September 11 13

14 Budget Summary Compensation to employees Increased dollars for safety and mental health Maintains focus on district s strategic plan Preserves academic programs, retains highly qualified teachers, and protects arts, athletics and student activities 14

15 Summary of Five Funds Fund Difference General 2,070,863,496 2,158,431,891 87,568,395 Debt Service 221,948, ,036,313 87,828 Capital Projects* 1,705,341,810 1,043,012,025 (662,329,785) Special Revenue** 155,965, ,105,665 11,139,815 Internal Service 337,797, ,015,721 (1,781,702) Totals 4,491,917,064 3,926,601,615 (565,315,449) *Includes carry over projects for only. **Food Service only, other grant awards to be amended into budget as approved. 15

16 General Fund 16

17 General Fund Budget $2,158,431,891 Operating budget of the school district Primary source is the Florida Education Finance Program (FEFP) Funding is equalized per student statewide Revenues are primarily from state sales taxes and local property taxes Also includes revenues from additional voted millage not to exceed 4 years 17

18 Estimated Revenue 18

19 250, , , , , , , , , ,000 FTE Actual and Forecast 150,

20 45% Total State Appropriations (All Funds) 40% 35% 30% 25% 20% 15% 10% 5% % 20

21 70% Education Appropriations (All Funds) 60% 50% 40% 30% % 10% 0% Early Learning Public Schools Community Colleges Universities Other 21

22 9, Budgeted Funding Per Student Second Calculation FEFP With CPI Comparison 8, , , , , , , , , , , , , , , , , , July 2007 July 2008 July 2009 July 2010 July 2011 July 2012 July 2013 July 2014 July 2015 July 2016 July 2017 July 2018 $749 Less State Funding Federal Stimulus Critical Needs Millage Edu Jobs One Mill CPI 22

23 Percentage of State General Revenue Going to Education Percent Fiscal Year End 23

24 80 Percentage of General Revenue to Public Schools Percent FY14 FY15 FY16 FY17 FY18 FY19 Fiscal Year End 24

25 100% Lottery Appropriations for Florida Reflects How Lottery Funds Were Dispersed to Education 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Public Schools Classrooms First & CSR Construction Community Colleges State Universities State Other 25

26 Estimated Revenues by Source Federal, 0.62% Local, 47.36% State, 51.93% 26

27 Appropriations 27

28 Priorities Compensation to employees Increase School Resource Officers Increase safety measures Increase Mental Health support Preserve academic programs Retain highly qualified teachers Protect arts, athletics, and student activities 28

29 Other Budget Items Health insurance no increase Florida Retirement System rate increases Professional development days Continue progress towards new SIS 29

30 General Fund Budgeted Appropriations by Function 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% % 10.0% 0.0% Instr. & Instr Support School Administration Plant Operation & Maint. Transportation General Support General Admin. & Board Community & Debt Serv. 30

31 Capital Projects Fund 31

32 Capital Projects Fund Budget $1,043,012,025 Primary revenue sources sales surtax, property tax, impact fee Minimal state support Primary uses are for comprehensive renovations, new schools, capital renewal, and debt service & operations 32

33 Budgeted Capital Revenues by Source In Millions Other State PECO Other Local Sales Taxes Impact Fees Property Taxes Fiscal Year 33

34 Capital Projects Use of Funds (Excluding Reserves) Ancillary Facilities 0.72% Debt Service & Ops 20.32% Districtwide Capital 18.08% Buses & Equipment 3.03% Charter Schools 1.32% Educational Tech 1.03% Portables 5.68% Comprehensive Needs 36.28% Safety Security Environ 1.66% Site Acquisition 1.45% Additional Schools 10.43% 34

35 Five Year New School Openings 2018 Audubon Park School M SW E SW E W E SW E W E SE E SW 5 35

36 Five Year New School Openings H SW E SE H W 4 36

37 FY2019 Comprehensive Projects Construction Southwest MS Lake George ES Magnolia School Sunrise ES Lake Gem ES Deerwood ES 37

38 FY2019 Comprehensive Projects Design Rolling Hills ES Winegard ES Pinar ES Meadow Woods MS Orange Technical College 4 Campuses Acceleration Academy West 38

39 Other FY19 Appropriations Digital curriculum expansion $40.2m School bus replacement $14.7m Capital Renewal $63.4m Portable moves and leasing $26.5m Charter school capital funding $6.4m District wide painting $5.8m Sunshades $4.5m 39

40 Debt Service Fund 40

41 Debt Service Fund Budget $222,036,313 Accumulates resources to pay long term debt Primary Revenue Sources State CO&DS Revenues Transfer from Capital Projects Fund 41

42 Special Revenue Fund 42

43 Special Revenue Budget $167,105,665 Initial budget includes Food Service Program only, a self supporting operation Funding is primarily from Federal reimbursement and USDA commodities, as well as local sales Meal prices will remain the same for Other Federal Grants will be amended into the budget as approved 43

44 Internal Service Fund 44

45 Internal Service Fund Total budget $336,015,721 Used to account for the district s Employee Benefit Trust Fund, Property Casualty Loss Fund, and Printing Services Fund 45

46 Internal Service Fund Employee Benefit Trust Fund Budget $286,437,834 Funded by Board contributions for employees and deductions for employees and dependents Medical claims payments and charges for services Plans continue to comply with Affordable Care Act requirements No increase in board contributions 46

47 Internal Service Fund Property Casualty Fund Budget $41,351,099 Property, Liability and Worker s Comp Claims Funded through charges to other budgets Printing Services Budget $8,226,787 Funded through charge backs to departments and schools 47

48 Remaining Actions Superintendent s comments Public comments Board discussion Adoption of total millage Adoption of Tentative Budget and establishment of date for final hearing 48