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Sarasota County Schools

Sarasota County Schools. Financial Advisory Committee Report. Key Roles. Oversight on budget/spending (volunteer/informal) Good business practices Sounding board for policy What do we get for what we spend?. Key Findings. Educational Quality Measures Budget Management Capital Budget.

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Sarasota County Schools

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  1. Sarasota County Schools Financial Advisory Committee Report

  2. Key Roles • Oversight on budget/spending (volunteer/informal) • Good business practices • Sounding board for policy • What do we get for what we spend?

  3. Key Findings • Educational Quality Measures • Budget Management • Capital Budget

  4. Ad Valorem Taxes 59.20% State of Florida 13.96% Federal Govt 12.43% Millage Initiative 9.21% 1/4 of $.01 Sales Tax 2.36% Other Local Sources 2.84% Funding Sources

  5. Educational Quality • One of eleven counties with incremental funding • Student Achievement: • 2009 FCAT Scores: Top 10 in Florida • Reading – Gains except Grade 10 • Math – Gains except Grade 8 • Writing – Top 3 in essay/30 point elementary gain since 2001

  6. Educational Quality • Student Achievement (cont’d): • District of Distinction • 95% “A” Elementary Schools • 86% “A” Middle Schools • 84% “A” or “B” All Schools • SAT Scores above State average: • +23 points in math • +19 points in reading

  7. Educational Quality • Student Achievement (cont’d): • Record graduation rates • 2007-2008: 86% • 2008-2009: Not available • All-time low drop-out rate • 2007-2008: 2.1% • 2008-2009: Not available

  8. Educational Quality • Student Achievement (cont’d): • Reading “Gap” White vs. Black closing

  9. Educational Quality • Student Achievement (cont’d): • Math “Gap” White vs. Black closing

  10. Educational Quality • Resource Support • Students per Staff: • Sarasota 7.4 • State 8.0 • Greater compliance with Class Size • Sarasota 77.3% • State 72.9% • Student Allocation Greater • Sarasota $7,450 • State $6,877

  11. Economic Considerations • District shows declining to flat enrollment

  12. Economic Considerations • Slight shift in “People Costs” • Recent Years show Impact of Economy on “Bottom Line”

  13. Economic Considerations • 2006-2010 Voted Millage Investment Priorities

  14. Return on Investment FCAT Performance Strong Correlation with: “A”/”B” Schools - Student/Staff Ratio SAT Scores - Class Size Graduation Rate - Spending/Student Achievement Gaps Closing - Incremental Millage • Not “absolute proof” – but strong linkage • Incremental instruction time impact • Don’t want to prove “negative case”

  15. Investments • Use of COPs funding is prudent and productive • 2009 = $76 million • SCTI/Atwater Elementary • 3.0 – 5.5% rates • 2010 = $139 million • Booker High School/Venice High School • Bond Rating Strong: AA/AA-/Aa3

  16. Investments • Recent Federal Funding: Pros & Cons Non-Stimulus Federal Funding $23.9m Federal ARRA (Stimulus) Funding $29.1m Total $53.0m Anticipated ARRA funding for 2010-2011 is $14.7 million.

  17. Reserve Position* *3% State Minimum

  18. Summary • Sarasota County Schools rank at the top in Florida • Voted millage has enabled education quality enhancements • Decisions to maintain strong reserves have provided critical funding “cushion” • Flexible financing has funded needed capital projects • 80% of budget devoted to “people costs”: implies constant effort for flexibility

  19. Priorities • Incremental Millage Funding • Rebuild Reserve Funds • Develop Pay for Performance / Accountability Approach • Identify Replacement Funding for Federal Funds • Continue prudent use of Debt Financing for Capital Projects • Maintain focus on teaching and learning

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