Dr. Karyn Gary - Superintendent. July 19, 2016

Transcription

1 Dr. Karyn Gary - Superintendent July 19, 2016

2 School District of DeSoto County Approve the Tentative Millages and Budget for Advertisement

3 Topics Millage and Rate Comparisons Non-Exempt Tax Values Florida Education Finance Program (FEFP) McKay Scholarships General Fund Balance History Budget Overview Budget Fund Sources/Revenues Budget Appropriations/Expenses

4 Millage Millage Rates include: Required Local Effort (RLE) Proposed tax rate must be levied to receive state funding Discretionary Local Effort must levy between and to be eligible for the Discretionary Millage Compression Supplement Discretionary Capital Outlay maximum rate of 1.50%

5 Millage Rate Comparisons Actual Rates vs. Tentative Millage Rates Actual Tentative Increase/ (Decrease) Required Local Effort (0.307) Discretionary Local Effort Subtotal Operating (0.307) Discretionary Capital Outlay Total Millage Rate (0.307)

6 Non-Exempt Assessed Tax Values nd Calc 1,500,669,597 1,442,104,862 1,429,046,515 1,443,172,914 1,452,151,527 1,501,870,003

7 Proposed Millage Proceeds by Type Type Millage Proceeds Operating Required 4.584% $ 6,609,189 Discretionary 0.748% 1,078,463 Total Operating 5.332% $ 7,687,652 Capital Outlay 1.500% $ 2,162,693 Total Millage 6.832% $ 9,850,345

8 BASE STUDENT ALLOCATION HISTORY

9 FEFP Base Funding

10 Federal Revenues

11 State Revenues

12 State Revenues

13 Local Revenues

14 Transfers They are made up of Discretionary Capital Outlay 1.5 Mil Can be used to pay for Property & Liability Insurance premiums Can be used to pay for direct costs for Maintenance Salaries, Repairs & Renovation at the schools only Can be used to pay for principal & interest on debt service funds

15 Total General Fund Revenues

16 Beginning Fund Balance July 1, 2016

17 Ending Fund Balance June 30, 2017

18 McKay Scholarships

19 General Fund Allocation by Object

20 All Funds Summary General Operating $ 42,531,621 Debt Service $ 2,264,007 Capital Outlay $ 9,811,051 Food Service $ 3,759,773 Federal $ 2,881,041 Total Revenues, Transfers $ 61,247,493 & Balances Total Expenditures Balances $ 61,247,493

21 Florida Retirement System Rates Employee Pays Employer Pays Total Total Change Regular 3.00% 7.52% 10.52% 10.26%.26% Elected 3.00% 42.47% 45.47% 45.27%.20% Senior Management 3.00% 21.77% 24.77% 24.43%.34% D.R.O.P. 0.00% 12.99% 12.99% 12.88%.11%

22 Special Revenue Budget Special Revenue Funds-Food Service Total Budget $3,759,773 Self-Supporting Covers all food service activities, including employee salaries, employee benefits, and food costs Special Revenue Funds-Other Total Budget (Grants Federal Programs) $2,881,041 Used to account for grants funded by the Federal Government. Budget will be added as grants are approved.

23 Debt Service Funds Budget Purpose To pay the principal and interest on bonds or other long-term debt Outstanding Bond Issues SBE Series 2009 Series A (Principal & Interest $11,250 Final Payment 2019) SBE Series 2005B (Principal & Interest $150,000- Final Payment 2020) Capital Improvement Refunding Revenue Bond, Series 2012 (Principal & Interest $94,644 - Final Payment 2025) QZAB, Series 2006 (Principal Only $132,287- Final Payment 2021) Bus Lease Purchase, US Bancorp (Principal & Interest $232,677 Final Payment 2019)

24 Capital Outlay Revenue State Sources Public Education Capital Outlay (PECO) Special Maintenance Capital Outlay & Debt Service (CO&DS) Flow-through revenue has been bonded by state ($49,261) Local Sources Property Taxes mills ($2,162,693)

25 Capital Outlay Expenditures Expenditures of the Local 1.5 mill funds are limited to: New Construction and remodeling projects (Educ Plant) Maintenance, renovation, and repairs School buses New/replacement equipment and enterprise software applications for districtwide administration or state-mandated reporting requirements. Payments for educational facilities/sites under a lease-purchase agreement. Payment of loans approved pursuant to Florida Statute. Payment of costs directly related to state and federal environmental statutes. Payment of costs of leasing relocatable educational facilities Payment of cost of opening day collection for new school library media center. Up to $100 per FTE on: Purchase of driver s education vehicles, motor vehicles used for maintenance or operation of plants and equipment, security vehicles, or vehicles used in storing or distributing materials and equipment. Payment of premiums for property and casualty insurance.

26 Capital Outlay Projects New & Replacement Equipment, Computers and electronic Devices, and Enterprise Software Site Improvements Environmental Compliance Property Insurance Maintenance, Renovation and Repair Debt Payment (QZAB s2006 & Bus Lease/Purchase) School Buses (2) Motor Vehicles (2) Total Capital Projects Fund Budget 170, ,000 50, , , , ,588 70,000 2,162,693

27 Questions?

28 Request permission to advertise the budget as presented changing the certified millage and assessed values as received from DOE by July 19 th.