2011-12 Adopted Tentative Budget Final Public Hearing September 8, 2011
Tax Roll History Tax Roll % Increase 1999-2000 15,910,271,621-2000-01 16,924,946,890 6.38% 2001-02 18,291,203,593 8.07% 2002-03 19,695,633,660 7.68% 2003-04 22,087,435,919 12.14% 2004-05 25,334,959,340 14.70% 2005-06 31,060,244,010 22.60% 2006-07 39,375,931,246 26.77% 2007-08 40,927,287,793 3.94% 2008-09 41,345,104,921 1.02% 2009-10 36,858,853,092-10.85% 2010-11 32,479,172,797-11.88% 2011-12 27,894,534,249-14.12% 2
History of Millage Levy Millage Change 1998-1999 9.578 mills - 1999-2000 9.171 mills -0.407 mills 2000-2001 8.908 mills -0.263 mills 2001-2002 8.674 mills -0.234 mills 2002-2003 8.605 mills -0.069 mills 2003-2004 8.405 mills -0.200 mills 2004-2005 8.194 mills -0.211 mills 2005-2006 7.963 mills -0.231 mills 2006-2007 7.667 mills -0.296 mills 2007-2008 7.531 mills -0.136 mills 2008-2009 7.661 mills +0.130 mills 2009-2010 7.687 mills +0.026 mills 2010-2011 7.653 mills -0.034 mills 2011-2012 prop. 8.112 mills +0.459 mills 3
Proposed Millage Changes Required Local Effort (RLE) 5.614 mills Millage required by the State to be levied If not, receive no dollars (State, Federal, or Local Taxes) 2011-12 requirement of 5.598 mills, plus prior years 2010-11 Prior Period Funding Adjustment of 0.016 mills 5.614 mills generates $150,335,919 Total increase 0.459 mills or +8.90% (compared to 2010-11 ) RLE comprises 69.2% of the total proposed millage levy 4
Proposed Millage Changes Discretionary Millage 0.748 mills 2009-10 Legislation authorized to transfer 0.250 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 0.250 mills from the Capital Projects Fund Currently subject to Compression by the State State guarantees average per FTE of $379.39 State will provide Brevard $94.53 per FTE or $6,647,086 Without compression 0.748 mills generates $20,030,507 5
Proposed Millage Changes Discretionary Critical Needs 0.250 mills (Operating) Millage Currently subject to Compression by State Third year as option for the Board Voters approved last November for the Board to have authority to continue for 2 years State guarantees average per FTE of $126.80 State will provide Brevard $31.59 per FTE or $2,221,321 Without compression 0.250 mills generates $6,694,688 6
Proposed Millage Changes Capital Outlay Millage 1.500 mills 2009-10 Legislation authorized to transfer 0.250 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 0.250 mills to the Operating Fund 1.500 mills generates $40,168,129 If millage not moved to Operating would lose 1/3 of Discretionary Millage Compression from State = $2,221,620 7
What is a Mill?? Definition of a mill related to a home s value: 1.000 Mill = $1 per $1,000 0.250 Mills = $0.25 per $1,000 Examples of property taxes for a home with a Taxable Value = $100,000 1.000 Mill = $100 in property taxes 0.250 Mills = $25 in property taxes 8.112 Mills = $811.20 in property taxes 8
Calculating Your Taxes Tax Formula: Taxable Value x Millage Rate x 0.001 Example: Assessed Value 100,000 Homestead Exemption -25,000 Taxable Value 75,000 Millage Rate = 8.112 mills Property Taxes = 75,000 x 8.112 x 0.001 = $608.40 9
Proposed 2010-11 Millage Actual Proposed Increase/ 2010-11 2011-12 Decrease Operating Required Local Effort 5.155 5.614 0.459 Local Discretionary 0.748 0.748 0.000 Critical Needs 0.250 0.250 0.000 Capital Outlay 1.500 1.500 0.000 Total Millage 7.653 8.112 +0.459 10
Rolled-Back Rate Details The Rolled-Back Rate is the new year property tax millage 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 2010-11 Actual Millage 7.653 Total 2011-12 Rolled-Back Rate 8.957 Total 2011-12 Proposed Millage 8.112 The 2011-12 Proposed Millage rate is: 9.4% lower than the 2011-12 Rolled-Back Rate 6.0% higher than the 2010-11 Actual Millage 11
Proposed Millage vs. Rolled-Back Rolled-Back Proposed Increase/ 2011-12 2011-12 Decrease Operating Required Local Effort 6.0335 5.614-0.4195 Local Discretionary 0.8755 0.748-0.1275 Critical Needs 0.2926 0.250-0.0426 Capital Outlay 1.7556 1.500-0.2556 Total Millage 8.9572 8.112-0.8452 12
Brevard Public Schools: Sample Home Your Property Taxes Last Year Your Taxes This Year If No Change Your Taxes If Proposed Change Is Made By State Law 538.54 591.10 550.00 By Local Board 104.26 114.44 97.77 School Capital Outlay 156.71 172.00 146.96 Total School Board Taxes 799.51 877.54 794.73 Assessed Value 129,470 122,970-5.0% Taxable Value 104,470 97,970-6.2% 13
Sample Home - Continued Your Property Your Taxes Your Taxes Taxes This Year If Proposed Last Year If No Change Change Is Made Total School Board Taxes 799.51 877.54 794.73 Taxable Value 104,470 97,970 97,970 Millage 7.653 8.9572 8.112 Amount of Taxes * 799.51 877.54 794.73 + $78.03 * Amount of Taxes = Taxable Value x Millage x.001 - $4.78 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 2010-11 $573.98 Taxes Proposed for 2011-12 $608.40 Tax Increase for 2011-12 +$34.42 15
Tax on Residential Home Scenario #2 Assumes 1.5% ($1,500) CPI increase in assessed valuation of $100,000 home Home Value $101,500 Less Homestead Exemption -25,000 Taxable Value of Home $76,500 Taxes Paid in 2010-11 $573.98 Taxes Proposed for 2011-12 $620.57 Tax Increase for 2011-12 +$46.59 16
Tax on Residential Home Scenario #3 Assumes 20% ($20,000) decrease in assessed valuation of $100,000 home, due to current economic conditions Home Value $80,000 Less Homestead Exemption -25,000 Taxable Value of Home $55,000 Taxes Paid in 2010-11 $573.98 Taxes Proposed for 2011-12 $446.16 Tax Decrease for 2011-12 -$127.82 17
Millage Increase & Tax Roll Decline 2010-11 2011-12 Difference Millage 7.653 mills 8.112 mills +0.459 mills Tax Roll $32.5B $27.9B -$4.6B Dollars Generated * $238.1m $217.2m -$20.9m Note: Even with the actual millage increase of 0.459 mills the tax dollars generated will go down due to the tax roll decline * Calculated by law @ 96% collection rate 18
Proposed Tentative Budget Amended Tentative 2010-11 2011-12 Difference % Operating 546,446,429 545,674,600-771,829-0.14 Special Revenue 129,406,870 86,421,036-42,985,834-33.22 Debt Service 47,334,552 45,631,699-1,702,853-3.60 Capital Outlay 155,210,037 116,273,433-38,936,604-25.09 Enterprise Fund 9,527,763 8,757,190-770,573-8.09 Subtotal 887,925,651 802,757,958-85,167,693-9.59 Less Transfers 44,065,192 38,483,402-5,581,790-12.67 Total 843,860,459 764,274,556-79,585,903-9.43 Internal Service 77,490,276 78,439,753 949,477 1.23 19
History - Actual Total Revenue With And Without Fund Balance 1,200,000,000 1,000,000,000 800,000,000 600,000,000 400,000,000 200,000,000 0 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 Actual Revenue With Fund Balance Actual Revenue Without Fund Balance
Operating Budget Revenue Amended Tentative 2010-11 2011-12 Difference % Federal 3,680,710 2,584,386-1,096,324-29.79 State - FEFP 187,295,041 191,555,903 4,260,862 2.27 State - Categoricals/Other 91,652,284 89,287,473-2,364,811-2.58 Local - Property Taxes 192,993,909 177,061,114-15,932,795-8.26 Local - Other 7,820,132 4,313,430-3,506,702-44.84 Total Revenue 483,442,076 464,802,306-18,639,770-3.86 Other Sources 5,850,261 1,299,035-4,551,226-77.80 Fund Balance 57,154,093 79,573,259 22,419,166 39.23 Grand Total 546,446,429 545,674,600-771,829-0.14 21
Student Growth Growth/Decline Year Membership Number Percent 2000-01 70,658 655 0.94 2001-02 71,625 967 1.37 2002-03 72,533 908 1.27 2003-04 73,912 1,379 1.90 2004-05 75,216 1,304 1.76 2005-06 76,062 846 1.12 2006-07 75,676-386 -0.51 2007-08 75,235-441 -0.58 2008-09 74,000-1,235-1.64 2009-10 73,352-648 -0.88 2010-11 72,913-439 -0.60 2011-12 proj. 72,200-713 -0.98 Note that the 6-day count number was 72,384 22
History of Change in Employee Positions Adopted 2007-08 vs. Proposed 2011-12 Budget Change 2007-08 2011-12 Number Percent Positions Classroom Teachers 4,925.86 4,660.52-265.34-5.4 Instructional Assistants 866.17 802.14-64.03-7.4 Instructional Support 454.80 446.29-8.51-1.9 Support - School-Level 2,704.48 2,354.42-350.06-12.9 Administrators - School-Level 242.00 231.00-11.00-4.5 Support - District-Level 368.69 324.54-44.15-12.0 Administrators - District-Level 50.00 39.00-11.00-22.0 Total 9,612.00 8,857.91-754.09-7.8 Membership 75,235 72,200-3,035-4.0 FTE 73,458.63 70,317.21-3,141.42-4.3 * Excludes Adult Education Teachers/Other 23
Capital Projects Revenues Estimated Tentative 2010-11 2011-12 Difference % PECO-New Const 0 0 0 0.00% PECO-Maint 4,173,040 0-4,173,040-100.00% Other-State 537,849 460,000-77,849-14.47% Local Revenue 51,294,209 43,280,729-8,013,480-15.62% Total Revenues 56,005,098 43,740,729-12,264,369-21.90% Other Sources 18,143,129 8,300,000-9,843,129-54.25% Fund Balance 81,061,810 64,232,704-16,829,106-20.76% Total 155,210,037 116,273,433-38,936,604-25.09% 24
Capital Projects Expenditures Projects 2011-12 Remodel/Renovation/Maintenance $6,050,000 Food Services Maintenance $300,000 Portable Relocation $150,000 20 School Buses $2,000,000 Sunrise Standard & Other Technology $1,500,000 Repair at Failure $360,000 Lease Payment $19,140 Total Projects $10,379,140 COP Payment $18,441,367 RAN Payment $18,000,000 Total Capital Projects $46,820,507 Reserved Fund Balance $5,220,222 Grand Total $52,040,729 25
Format of Budget Books Changes since the first hearing: Inclusion of 2010-11 year-end data (revenue/expenditures) Modification of 2011-12 revenue and beg. fund balance Minor changes to 2011-12 project expenditures Provided for comparison purposes: 2010-11: Adopted Budget (9/9/10) Amended Budget (as of 6/30/11) Actual Expenditures (as of 6/30/11) 2011-12: Tentative Budget Reminder that the percent of total for each column has been included in the book for easy reference 26
Questions 27