public hearing fy 2022 tentative budget
TRANSCRIPT
PublicHearingFY2022TentativeBudgetDoreen ConcolinoInterim Chief Financial Officer July 27, 2021
Agenda
2
• Presentation of proposed millage• Presentation of proposed budget• Superintendent’s comments• Public comments• Board discussion• Adoption of total millage• Adoption of 2021‐22 Tentative Budget and establishment of date for final hearing
PropertyTaxes
3
Commercial BuildingsResidential
4
• 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
‐
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 2025 2026
In Billions
EDREstimatesOrangeTaxableValuesasofMarch2021
5
6
Millage Rate Comparison
Description 2020‐21 2021‐22 Change
Required Local Effort 3.609 3.489 (0.120)
Discretionary 0.748 0.748 ‐
Additional Voted Millage 1.000 1.000 ‐
Subtotal Operating 5.357 5.237 (0.120)
Capital Projects 1.500 1.500 ‐
Total Millage 6.857 6.737 (0.120)
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Reduced .009
MillageRates
Disc. Mill0.74800.74800.74800.74800.74800.74800.74800.74800.74800.74800.74800.7480
Disc Mill0.7480
Cap. Millage1.50001.5000 1.50001.50001.50001.50001.50001.50001.50001.50001.50001.5000
Cap Millage1.5000
3.48903.60903.86104.05104.22204.56304.97005.22605.11405.23005.29705.3960
5.4250RequiredLocalEffort
Critical, 0.2500
Sp. Millage1.0000
1.00001.00001.00001.00001.0000
1.00001.00001.00001.0000Sp. Millage1.0000
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
10.00
FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11FY10Disc Mill Cap Millage RLE Critical Sp. Millage
Reduced .1200
8
3.5%
6.9%
8.4%
7.6% 7.4%6.8% 6.7%
6.1% 6.1%
1.8%
4.9%
5.9%
0.0% 0.0%
1.4%1.9% 2.0%
2.5%
‐1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22
State Tax Roll Increase State RLE $ Increase
StateTaxRollIncreasevs.StateRLE$Increase
9
• 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
Rolled‐BackRate
10
• Required Local Effort – 2.89% under the rolled‐back rate
• Total Millage – 1.31% under the rolled‐back rate
11
Homeowner ImpactDescription Values Taxes
Home Just Value Prior Year* $ 216,921
Less Homestead Exemption $ 25,000
Taxable Value Prior Year $ 191,921
Taxes Paid Prior Year $ 1,380
Home Just Value Current Year $ 229,000
Less Homestead Exemption $ 25,000
Taxable Value Current Year $ 204,000
Taxes Proposed Current Year $ 1,374
Net Change in Taxes $ (6)
*with Save Our Homes
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Commercial Owner ImpactDescription Values Taxes
Property Just Value Prior Year $ 973,994
Less Homestead Exemption $ ‐
Taxable Value Prior Year $ 973,994
Taxes Paid Prior Year $ 6,679
Property Just Value Current Year $ 1,000,000
Less Homestead Exemption $ ‐
Taxable Value Current Year $ 1,000,000
Taxes Proposed Current Year $ 6,737
Net Change in Taxes $ 58
13
ProposedAnnualBudget2021‐22
TimelineofBudgetProcess
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• Community input and legislative priorities – Fall• Governor’s Budget – January• EDR Forecast – March• Legislative Session – March through May• Initial school allocations – March• Board work session – June• Proposed millage and budget advertised – July 25• Public hearing on Tentative Budget– July 27• Public hearing on Adopted Budget – September 14
BudgetSummary
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• Elimination of the hold harmless funding More students with less money
• Bonuses/Supplements for employees• Increase to teacher salary and mental health categorical funds• ESSER funding• Maintains focus on district’s strategic plan• Preserves academic programs, retains highly qualified teachers, and protects arts, athletics and student activities
16
Summary of Five FundsFund 2020‐21 2021‐22 Difference
General 2,218,328,757 2,319,737,091 101,408,334
Debt Service 233,750,914 229,304,411 (4,446,503)
Capital Projects* 1,953,201,696 1,412,313,656 (540,888,040)
Special Revenue** 159,852,546 227,752,511 67,899,965
Internal Service 362,449,466 343,346,144 (19,103,322)
Totals 4,927,583,379 4,532,453,813 (395,129,566)
*Includes carry‐over projects for 2020‐21 only. **Food Service, Extended Day and School Internal Accounts; other grant awards to be amended into budget as approved.
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GeneralFund
GeneralFund
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• Budget – $2,319,737,091 • 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
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EstimatedRevenue
FTEActualandForecast
20150,000
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 20‐21 21‐22
TotalStateAppropriations(AllFunds)
21
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Education Enhance. and Ed.Other
Human Services Criminal Justice andCorrections
NaturalResources/Environ./Growth
Mgt./Transp.
General Government Judicial Branch
2018‐19
2019‐20
2020‐21
2021‐22
EducationAppropriations(AllFunds)
22
0%
10%
20%
30%
40%
50%
60%
70%
Early Learning Public Schools Community Colleges Universities Other
2018‐19
2019‐20
2020‐21
2021‐22
23
BudgetedFundingPerStudentSecondCalculationFEFPWithCPIComparison
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 7,745.71 7,774.80
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
768.88 806.28
6,000.00
6,500.00
7,000.00
7,500.00
8,000.00
8,500.00
9,000.00
9,500.00
July2007
July2008
July2009
July2010
July2011
July2012
July2013
July2014
July2015
July2016
July2017
July2018
July2019
July2020
July2021
State Funding Federal Stimulus Critical Needs Millage Edu Jobs One Mill CPI
$714Less
PercentageofStateGeneralRevenueGoingtoEducation
24
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 21 22
Perc
ent
Fiscal Year End
25
72.6 71.7 71.8 71.469.2 70.3 70.8 71.2 70.6
50
55
60
65
70
75
80
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22
Percen
t
Fiscal Year End
PercentageofGeneralRevenuetoPublicSchools
LotteryAppropriationsforFloridaReflectsHowLotteryFundsWereDispersedtoEducation
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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 21 22
Public Schools Classrooms First & CSR Construction Community Colleges State Universities State Other
EstimatedRevenuesbySource
27
Federal ‐ 0.49%
State ‐ 50.95%Local ‐ 48.56%
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Appropriations
BudgetImplications
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• Growth in FTE/Enrollment • Florida Retirement System rate increases ‐ $8.4m• Family Empowerment Scholarship ‐ $25.7m• ESSER funding
GeneralFundBudgetedAppropriationsbyFunction
30
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
Instr. & InstrSupport
SchoolAdministration
Plant Operation &Maint.
Transportation General Support General Admin. &Board
Community & DebtServ.
FY18-19FY19-20FY20-21FY21-22
31
CapitalProjectsFund
CapitalProjectsFund
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• Budget – $1,412,313,656 • Primary revenue sources – sales surtax, property tax, impact fee• Minimal state support• Primary uses are for comprehensive renovations, new schools, capital renewal, and debt service & operations
BudgetedCapitalRevenuesbySource
33
‐
100.00
200.00
300.00
400.00
500.00
600.00
700.00
2022 2023 2024 2025 2026
In M
illions
Fiscal Year
Other State
PECO
Sales Taxes
Impact Fees
Property Taxes
CapitalProjectsUseofFunds(ExcludingReserves)
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Districtwide Capital 30.64%
Comprehensive Needs 9.20%
Additional Schools 15.05%
Site Acquisition 0.92%
Security System/Environmental Projects 0.34%
Portables 5.23%
Educational Tech 2.24%Charter Schools 1.61%
Buses & Equipment 3.18%
Debt Service & Ops 31.59%
TentativeCapitalPlan
• Includes new capacity projects based on recommendations from the Advance Planning Committee• Includes funding for Functional Equity projects • Includes Pre‐2003 Sales Tax schools• Includes funding for repurposing schools • Capital renewal funding throughout sales tax program
35
Five‐YearNewSchoolOpenings
• 2021 Horizon HS• 2021 Village Park ES• 2021 Lake Buena Vista HS• 2022 89‐E‐W‐4• 2022 114‐E‐W‐4• 2022 30‐E‐SE‐3• 2022 90‐K8‐N‐7• 2022 132‐M‐W‐4
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Five‐YearNewSchoolOpenings
• 2023 Water Spring MS• 2024 129‐M‐SE‐2• 2024 118‐E‐SW‐5• 2024 47‐E‐W‐4• 2024 97‐E‐SE‐2• 2024 50‐H‐SE‐2
37
FY2022ComprehensiveProjects‐Construction
• Orange Technical College – Orlando • Hungerford ES (Building 8)
38
FY2022ComprehensiveProjects‐Design
• Orange Technical College – Mid Florida • Orange Technical College – Westside• Orange Technical College – Winter Park• Colonial HS (Pre‐2003 Sales Tax schools) • Howard MS (Pre‐2003 Sales Tax schools)• Lakeview MS (Pre‐2003 Sales Tax schools)• Three Points ES (Pre‐2003 Sales Tax schools)•Winter Park HS (Pre‐2003 Sales Tax schools)
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OtherFY2022Appropriations
• School bus replacement ‐ $17.3m• Portable moves and leasing ‐ $28.4m• Charter school capital funding ‐ $8.75m• District‐wide painting ‐ $5.8m• Digital technology replacement ‐ $7.8m
40
41
DebtServiceFund
DebtServiceFund
42
• Budget ‐ $229,304,411• Accumulates resources to pay long‐term debt• Primary Revenue Sources
‐State CO&DS Revenues‐Transfer from Capital Projects Fund
43
SpecialRevenueFund
SpecialRevenueFund
44
• Total budget – $227,752,511• Accounts for the district’s Food Service Program and Special Revenue Other Funds
Other Federal Grants will be amended into the budget as approved
SpecialRevenueFund
45
Food Service Program • Budget – $165,462,827• Food Service Program is 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 2021‐22
Other Federal Grants will be amended into the budget as approved
SpecialRevenueFund
46
Special Revenue Other• Budget – $62,289,684• School Internal Accounts and Extended Day Programs• Revenues are restricted or committed for specific purposes• Funding is primarily from monies collected or user fees
47
InternalServiceFund
InternalServiceFund
48
• Total budget – $343,346,144 • Accounts for the district’s Employee Benefit Trust Fund, Property Casualty Loss Fund, and Printing Services Fund
InternalServiceFund
49
Employee Benefit Trust Fund• Budget – $299,890,390• Funded by Board contributions for employees and deductions for employees and dependents• Medical and prescription claims payments and charges for services• Plans continue to comply with Affordable Care Act requirements• Board contributions for employee‐only coverage $9,289
InternalServiceFund
50
Property Casualty Fund• Budget – $39,696,022• Property, Liability and Worker’s Comp Claims• Funded through charges to other budgets
Printing Services• Budget – $3,759,732• Funded through charge‐backs to departments and schools
RemainingActions
51
• Superintendent’s comments• Public comments• Board discussion• Adoption of total millage• Adoption of 2021‐22 Tentative Budget and establishment of date for final hearing