September 10, 2019 Dale C. Kelly, CPA Chief Financial Officer Public Hearing FY 2020 Final Budget
September 10, 2019Dale C. Kelly, CPAChief Financial Officer
PublicHearingFY2020FinalBudget
• 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
2
Commercial BuildingsResidential
PropertyTaxes
3
• 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
PropertyTaxes
4
‐
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 EstimatesOrange Taxable Values
as of March 2019
5
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
6
Disc. Mill0.7480.7480.7480.7480.7480.7480.7480.7480.7480.748Disc Mill
0.748
Cap. Millage1.5001.5001.5001.5001.5001.5001.5001.5001.5001.500Cap Millage
1.500
RLE3.861
4.0514.2224.5634.9705.2265.1145.2305.2975.396
5.425RequiredLocalEffort
Critical, 0.250
Sp. Millage1.000
1.0001.0001.000
1.0001.0001.0001.000Sp. Millage1.000
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
10.00
FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11FY10Disc Mill Cap Millage RLE Critical Sp. Millage
Reduced 1.564
Millage Rates
7
• 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‐BackRate
8
• Required Local Effort – 1.57% over the rolled‐back rate
• Total Millage – 3.79% over the rolled‐back rate
Rolled‐BackRate
9
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
10
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
11
ProposedAnnualBudget2019‐20
12
• 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
TimelineofBudgetProcess
13
• 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
BudgetSummary
14
*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
15
GeneralFund
16
• 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
GeneralFund
17
EstimatedRevenue
18
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
19
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Education Enhance. and Ed.Other
Human Services Criminal Justice andCorrections
NaturalResources/Environ./Growth
Mgt./Transp.
General Government Judicial Branch
2016‐17
2017‐18
2018‐19
2019‐20
Total State Appropriations (All Funds)
20
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)
21
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
$639Less
Budgeted Funding Per StudentSecond Calculation FEFPWith CPI Comparison
22
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
Perc
ent
Fiscal Year End
Percentage of State General Revenue Going to Education
23
72.6 71.7 71.8 71.469.2 70.3 70.8
50
55
60
65
70
75
80
FY14 FY15 FY16 FY17 FY18 FY19 FY20
Percen
t
Fiscal Year End
Percentage of General Revenue to Public Schools
24
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 FloridaReflects How Lottery Funds Were Dispersed to Education
25
Federal ‐ 0.61%
State ‐ 51.63%
Local ‐ 47.76%
Estimated Revenues by Source
26
Appropriations
27
• 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
28
• Health insurance‐increase of 10%• Florida Retirement System rate increases• Professional development days
OtherBudgetItems
29
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 & DebtServ.
FY16-17
FY17-18
FY18-19
FY19-20
General FundBudgeted Appropriations by Function
30
CapitalProjectsFund
31
• 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
CapitalProjectsFund
32
‐
100.00
200.00
300.00
400.00
500.00
600.00
700.00
2020 2021 2022 2023 2024
In M
illions
Fiscal Year
Other State
PECO
Other Local
Sales Taxes
Impact Fees
Property Taxes
Budgeted Capital Revenues by Source
33
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
• 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
CapitalPlan
35
• 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‐YearNewSchoolOpenings
36
• 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‐YearNewSchoolOpenings
37
• 2023 65‐M‐W‐4• 2023 68‐M‐SE‐2
Five‐YearNewSchoolOpenings
38
• Meadow Woods MS• Acceleration West
FY2020ComprehensiveProjects‐Construction
39
• Orange Technical College – Orlando• Orange Technical College – Winter Park
FY2020ComprehensiveProjects‐Design
40
• 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
OtherFY20Appropriations
41
DebtServiceFund
42
• Budget ‐ $227,833,851• Accumulates resources to pay long‐term debt• Primary Revenue Sources
‐State CO&DS Revenues‐Transfer from Capital Projects Fund
DebtServiceFund
43
SpecialRevenueFund
44
• 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
SpecialRevenue
45
InternalServiceFund
46
• Total budget – $348,801,859• Used to account for the district’s Employee Benefit Trust Fund, Property Casualty Loss Fund, and Printing Services Fund
InternalServiceFund
47
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
InternalServiceFund
48
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
InternalServiceFund
49
• Superintendent’s comments• Public comments• Board discussion• Adoption of total millage• Adoption of 2019‐20 Budget
RemainingActions
50