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2009-2010 Proposed Budget

2009-2010 Proposed Budget. FEFP. UFTE 7,998.13 ( Unweighted Full Time Equivalent Students) X Cost Factors = WFTE 8,491.87 (Weighted Full Time Equivalent Students). FEFP. WFTE 8,491.87

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2009-2010 Proposed Budget

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  1. 2009-2010 Proposed Budget

  2. FEFP UFTE 7,998.13 (Unweighted Full Time Equivalent Students) X Cost Factors = WFTE 8,491.87 (Weighted Full Time Equivalent Students)

  3. FEFP WFTE 8,491.87 X BSA $3,630.62 (Base Student Allocations) X DCD 1.0083 (District Cost Differential) = Base FEFP $31,086,648

  4. FEFP BASE FEFP$ 31,086,648 + Declining Enrollment Supplement 0.00 + ESE Guaranteed Allocation 2,977,472 +Supplemental Instruction 1,728,525 + Summer Reading Allocation 378,542 + Safe Schools 338,152 + DJJ Supplement 4,133 + Merit Award 3,857 = SUBTOTAL $36,517,329

  5. FEFP • New this year – State adds 3 categoricals to the FEFP calculation: • Subtotal $36,517,329 • TRANSPORTATION 1,150,548 • INSTRUCTIONAL MATERIALS 674,340 • TEACHER LEAD PROGRAM 102,881 • ARRA FUNDING 2,773,307 • TOTAL FEFP $41,218,405

  6. But – this year…. • State uses American Recovery and Reinvestment Act (ARRA ) Funding to reduce the state’s portion of FEFP. • State FEFP - $4,114,988 • Less ARRA Funds ($2,773,307) and proration for revised appropriations ($60,279) • Net State FEFP Funding - $1,281,402

  7. FEFP • State breaks its bargain with the 90% districts which said that no district would ever be required to raise more than 90% of its education funding locally. • Monroe forced to contribute 97% through local taxes and raise 97% of three categoricals that formerly were 100% funded by the state.

  8. FEFP • TOTAL FEFP $41,218,405 • = RLE (Required Local Effort) $37,103,417 • = State FEFP $1,281,402 • = State deduction for revised Appropriations $60,279 • = ARRA FEDERAL STABILIZATION GRANTS $2,773,307

  9. FEFP Monroe County Property Value $23,247,754,922 ÷ Millage Factor 1,000 X State School Law Millage Rate 1.680 X Discount Percent .95% = RLE (Required Local Effort) $ 37,103,417

  10. FEFP • New this Year – An addition to the RLE • Prior Period Funding Adjustment Millage • Property Value $23,247,754,922 • X Prior Period Millage .008 • = At 95% $82,283 • = Total RLE $37,280,099

  11. FEFP Local Board MillageProceeds1 Voted Millage .500 $11,042,683 Discretionary .699 15,437,672 Total Operating $26,480,355 Capital Improvement.50011,042,683 Total Local Board 1.699 $37,523,038 Reduced by 5%.

  12. FEFP State Money Includes: Lottery $ 485,211 (No discretionary Lottery Funding in 2009-2010.) Class Size Categorical $8,756,663 State FEFP $1,281,402 Total State Funding: $10,523,276

  13. FEFP LOCAL FUNDING $63,760,454 (Property Tax1) STATE FUNDING 10,523,276 (Sales Tax and Lottery) Total Operating $74,283,730 1 Does not include capital mill, but, does include voted half mill

  14. Millage Comparison

  15. Millage • Rollback Rate: 3.411 • The rate that would raise the same amount of funding that was raised the previous year, but with this year’s property values. Generates $75,333,187 @ 95% • Proposed rate: 3.387, which is .7% of a percent below rollback. • Generates $74,803,139 @ 95%.

  16. Tax on Property

  17. Tax on Property

  18. Tax on Property

  19. Tax on Property

  20. Budget Highlights Additional sources of operating revenues are: • Workforce Development • Voluntary Pre-K • Daycare Fees • Interest Revenue • Federal: Impact Aid, Key Deer Refuge, • Medicaid

  21. Budget Highlights • Maintains a fiscally sound unreserved fund • balance of $6.8M which is 8.25% of total • expenditures. This is greater than AG • recommended 2.5% and District’s own • policy of 5%. • Includes $8.7M in funding to meet Class-size • reduction goals.

  22. Budget Highlights • Provides $75 per FTE to schools for • discretionary spending. • Continues to provide a nurse for every • school. • Continues to support academic after school • programs and band/music/art programs.

  23. Budget Reductions Budget reductions were made to minimally impact direct instructional activities: Program specialists were reassigned to classrooms Reduction in Force applied to administrative staff Continued hiring freeze on non- academic positions. Renegotiated insurance premiums. Energy savings in schools and ancillary buildings.

  24. Budget Presentation Questions?

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