Public Hearing FY 2020 Final Budget Dale C. Kelly, CPA September - - PowerPoint PPT Presentation

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Public Hearing FY 2020 Final Budget Dale C. Kelly, CPA September - - PowerPoint PPT Presentation

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Public Hearing FY 2020 Final Budget Dale C. Kelly, CPA September 10, 2019 Chief Financial Officer Agenda Presentation of proposed millage Presentation of proposed budget Superintendents comments Public comments Board

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September 10, 2019

Dale C. Kelly, CPA Chief Financial Officer

Public Hearing FY 2020 Final Budget

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  • Presentation of proposed millage
  • Presentation of proposed budget
  • Superintendent’s comments
  • Public comments
  • Board discussion
  • Adoption of total millage
  • Adoption of 2019‐20 Budget

Agenda

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SLIDE 3

Commercial Buildings Residential

Property Taxes

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  • 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

Property Taxes

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‐ 50.0 100.0 150.0 200.0 250.0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 In Billions

EDR Estimates Orange Taxable Values as of March 2019

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Description 2018‐19 2019‐20 Change Required Local Effort 4.051 3.861 (0.190) Discretionary 0.748 0.748 ‐ Additional Voted Millage 1.000 1.000 ‐ Subtotal Operating 5.799 5.609 (0.190) Capital Projects 1.500 1.500 ‐ Total Millage 7.299 7.109 (0.190)

Millage Rate Comparison

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  • Disc. Mill

0.748 0.748 0.748 0.748 0.748 0.748 0.748 0.748 0.748 0.748 Disc Mill 0.748

  • Cap. Millage

1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 Cap Millage 1.500

RLE 3.861 4.051 4.222 4.563 4.970 5.226 5.114 5.230 5.297 5.396

5.425

Required Local Effort

Critical, 0.250

  • Sp. Millage

1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000

  • Sp. Millage

1.000

0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 10.00

FY20 FY19 FY18 FY17 FY16 FY15 FY14 FY13 FY12 FY11 FY10

Disc Mill Cap Millage RLE Critical

  • Sp. Millage

Reduced 1.564

Millage Rates

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  • 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

Rolled‐Back Rate

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  • Required Local Effort – 1.57% over the rolled‐back rate
  • Total Millage – 3.79% over the rolled‐back rate

Rolled‐Back Rate

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Description Values Taxes

Home Just Value Prior Year* $ 202,625 Less Homestead Exemption $ 25,000 Taxable Value Prior Year $ 177,625 Taxes Paid Prior Year $ 1,296 Home Just Value Current Year $ 206,000 Less Homestead Exemption $ 25,000 Taxable Value Current Year $ 181,000 Taxes Proposed Current Year $ 1,287 Net Change in Taxes $ (9)

*with Save Our Homes

Homeowner Impact

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Description Values Taxes

Property Just Value Prior Year $ 938,350 Less Homestead Exemption $ ‐ Taxable Value Prior Year $ 938,350 Taxes Paid Prior Year $ 6,849 Property Just Value Current Year $ 1,000,000 Less Homestead Exemption $ ‐ Taxable Value Current Year $ 1,000,000 Taxes Proposed Current Year $ 7,109 Net Change in Taxes $ 260

Commercial Owner Impact

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Proposed Annual Budget 2019‐20

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  • Community input and legislative priorities – Fall
  • Governor’s Budget – January
  • Final EDR Forecast – March
  • Legislative Session – March through May
  • Budget Committee meetings – March through May
  • Initial school allocations – March
  • Board work sessions – April and June
  • Proposed millage and budget advertised – July 28
  • Public hearing on Tentative Budget– July 30
  • Public hearing on Adopted Budget– September 10

Timeline of Budget Process

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  • 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

Budget Summary

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*Food Service only, other grant awards to be amended into budget as approved.

Fund 2018‐19 2019‐20 Difference General 2,150,793,740 2,231,730,988 80,937,248 Debt Service 222,532,629 227,833,851 5,301,222 Capital Projects 1,858,305,493 1,984,059,685 125,754,192 Special Revenue* 169,957,186 170,188,462 231,276 Internal Service 336,472,194 348,801,859 12,329,665 Totals 4,738,061,242 4,962,614,845 224,553,603

Summary of Five Funds

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General Fund

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  • Budget – $2,231,730,988
  • 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

General Fund

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Estimated Revenue

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150,000 160,000 170,000 180,000 190,000 200,000 210,000 220,000 230,000 240,000 250,000

07‐08 08‐09 09‐10 10‐11 11‐12 12‐13 13‐14 14‐15 15‐16 16‐17 17‐18 18‐19 19‐20

FTE Actual and Forecast

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0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

Education Enhance. and Ed. Other Human Services Criminal Justice and Corrections Natural Resources/Environ./Growth Mgt./Transp. General Government Judicial Branch

2016‐17 2017‐18 2018‐19 2019‐20

Total State Appropriations (All Funds)

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0% 10% 20% 30% 40% 50% 60% 70% Early Learning Public Schools Community Colleges Universities Other

2016‐17 2017‐18 2018‐19 2019‐20

Education Appropriations (All Funds)

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7,309.24 6,988.29 6,530.42 6,447.36 6,228.17 6,346.25 6,735.24 6,883.27 7,057.07 7,120.32 7,231.06 7,343.01 7,632.22 360.11 339.16 123.53 210.64 468.97 452.48 466.16 491.16 551.32 585.43 630.39 658.98 711.84

6,000.00 6,500.00 7,000.00 7,500.00 8,000.00 8,500.00 9,000.00 9,500.00 July 2007 July 2008 July 2009 July 2010 July 2011 July 2012 July 2013 July 2014 July 2015 July 2016 July 2017 July 2018 July 2019 State Funding Federal Stimulus Critical Needs Millage Edu Jobs One Mill CPI

$639 Less

Budgeted Funding Per Student Second Calculation FEFP With CPI Comparison

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40 45 50 55 60 65 70 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20

Percent Fiscal Year End

Percentage of State General Revenue Going to Education

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72.6 71.7 71.8 71.4 69.2 70.3 70.8

50 55 60 65 70 75 80 FY14 FY15 FY16 FY17 FY18 FY19 FY20

Percent Fiscal Year End

Percentage of General Revenue to Public Schools

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0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20

Public Schools Classrooms First & CSR Construction Community Colleges State Universities State Other

Lottery Appropriations for Florida Reflects How Lottery Funds Were Dispersed to Education

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Federal ‐ 0.61% State ‐ 51.63% Local ‐ 47.76%

Estimated Revenues by Source

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Appropriations

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  • Compensation to employees
  • Increased mental health services
  • Increased safety at schools
  • Instructional support for Teaching and Learning
  • Preserving academic programs
  • Retain highly qualified teachers
  • Protect arts, athletics, and student activities

Priorities

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  • Health insurance‐increase of 10%
  • Florida Retirement System rate increases
  • Professional development days

Other Budget Items

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0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0%

  • Instr. & Instr Support School Administration

Plant Operation & Maint. Transportation General Support General Admin. & Board Community & Debt Serv.

FY16-17 FY17-18 FY18-19 FY19-20

General Fund Budgeted Appropriations by Function

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Capital Projects Fund

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  • Budget – $1,984,059,685
  • Primary revenue sources – sales surtax, property tax,

impact fee

  • Minimal state support
  • Primary uses are for new relief schools,

comprehensive renovations, capital renewal, and safety

Capital Projects Fund

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‐ 100.00 200.00 300.00 400.00 500.00 600.00 700.00 2020 2021 2022 2023 2024 In Millions Fiscal Year

Other State PECO Other Local Sales Taxes Impact Fees Property Taxes

Budgeted Capital Revenues by Source

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Districtwide Capital 21.16% Comprehensive Needs 22.18% Additional Schools 27.61% Site Acquisition 2.74% Safety Security Environ 7.84% Portables 2.79% Educational Tech 5.46% Charter Schools 0.62% Buses & Equipment 1.17% Ancillary Facilities 1.08% Debt Service & Ops 7.35%

Capital Projects Use of Funds

(Excluding Reserves) 34

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  • Continues with project priorities as previously

presented

  • Includes funding for ballfield lighting at high schools
  • Includes the continuation of the refurbishing all the

track and field components at our high schools

  • Includes new capacity projects based on

recommendations from Advance Planning

  • Includes continuation of safety projects

Capital Plan

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  • 2019 Castleview ES
  • 2019 Horizon West MS
  • 2019 Water Spring ES
  • 2020 20‐E‐SW‐4
  • 2020 85‐E‐W‐4
  • 2020 83‐E‐SE‐3

Five‐Year New School Openings

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  • 2021 80‐H‐SW‐4
  • 2021 113‐H‐W‐4
  • 2021 118‐E‐SW‐5
  • 2021 43‐E‐SE‐2
  • 2022 89‐E‐W‐4
  • 2022 30‐E‐SE‐3
  • 2022 90‐K8‐N‐7
  • 2022 132‐M‐W‐4

Five‐Year New School Openings

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  • 2023 65‐M‐W‐4
  • 2023 68‐M‐SE‐2

Five‐Year New School Openings

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  • Meadow Woods MS
  • Acceleration West

FY2020 Comprehensive Projects ‐ Construction

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  • Orange Technical College – Orlando
  • Orange Technical College – Winter Park

FY2020 Comprehensive Projects ‐ Design

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  • Digital curriculum expansion‐ $61.3m
  • School bus replacement‐ $15.3m
  • Portable moves and leasing‐ $36.5m
  • Charter school capital funding‐ $8.2m
  • District‐wide painting‐ $7.0m

Other FY20 Appropriations

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Debt Service Fund

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  • Budget ‐ $227,833,851
  • Accumulates resources to pay long‐term debt
  • Primary Revenue Sources

‐State CO&DS Revenues ‐Transfer from Capital Projects Fund

Debt Service Fund

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Special Revenue Fund

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  • Budget – $170,188,462
  • 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 2019‐20
  • Continued investment in upgrading kitchen equipment from

Food Service profits

Other Federal Grants will be amended into the budget as approved

Special Revenue

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Internal Service Fund

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  • Total budget – $348,801,859
  • Used to account for the district’s Employee Benefit

Trust Fund, Property Casualty Loss Fund, and Printing Services Fund

Internal Service Fund

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Employee Benefit Trust Fund

  • Budget – $304,279,655
  • 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

  • Increase of 10% in board contributions

Internal Service Fund

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Property Casualty Fund

  • Budget – $37,157,795
  • Property, Liability and Worker’s Comp Claims
  • Funded through charges to other budgets

Printing Services

  • Budget – $7,364,408
  • Funded through charge‐backs to departments and

schools

Internal Service Fund

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  • Superintendent’s comments
  • Public comments
  • Board discussion
  • Adoption of total millage
  • Adoption of 2019‐20 Budget

Remaining Actions

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