1. 2009-2010 Proposed Budget

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

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

4. 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 FEFP

5. 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. 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 FEFP

10. 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. Local Board Millage Proceeds 1 Voted Millage.500 $11,042,683 Discretionary.699 15,437,672 Total Operating $26,480,355 Capital Improvement.500 11,042,683 Total Local Board 1.699 $37,523,038 Reduced by 5%. FEFP

12. 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 FEFP

13. LOCAL FUNDING $63,760,454 (Property Tax 1 ) 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 FEFP

14. Millage Comparison ACTUALPROPOSED 2008-20092009-2010Incr(Decr)% Assessed Valuation $26,715,033,370$23,247,754,922 $(3,467,278,448)-13.0% Required Local Effort (RLE)1.39401.6880.294 Local Discretionary0.49800.6990.201 Supplemental Discretionary0.03000.00-0.030 Additional-Voting Operating0.50000.500 Total Operating Millage2.42202.8770.465 Local Capital Improvement0.50000.500 Total School District Millage2.92203.3870.46515.9%

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 Taxable Value from DR420-S Certification of School Taxable Value Current Yr Property at Taxable Value 23,247,754,922 New Property added to Tax Rolls 360,885,181 Prior Yr Property at Current Year Tax Value 22,886,869,741 Prior Yr Property at Prior Year Tax Value 26,715,033,370 Change in Tax Value (3,828,163,629) Percentage Change in Tax Value-14.33% Millage Rates from DR420-S Certification of School Taxable Value Current Yr Millage Rate 3.387 Prior Yr Millage Rate 2.922 Change in Millage Rate 0.465 Percentage Change in Millage Rate15.91%

17. Tax on Property

18. Tax On Homesteaded Property 2008-20092009-2010Incr(Decr)% Assessed Value (Sample) $ 500,000.00 $ 428,000.00 $(72,000.00)-14.40% Less: Homestead Exemption 25,000.00 - Taxable Value 475,000.00 403,000,00 (72,000.00)-15.16% Tax Rate 2.9220 3.387 0.4650 15.91% School District Tax $ 1,387.95 $ 1,364.96 $ (22.99)-1.66%

19. Tax On Non-Homesteaded Property 2008-20092009-2010Incr(Decr)% Assessed Value (Sample) $ 500,000.00 $ 428,000.00 $ (72,000.00)-14.40 Less: Homestead Exemption - Taxable Value 500,000.00428,000.00(72,000.00)-14.40 Tax Rate 2.9223.38700.465015.91 School District Tax $ 1,461.00 $ 1,449.64 $ (11.36) -0.78 Tax on Property

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

21. 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. Budget Highlights

22. 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. Budget Highlights

23. 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. Budget Reductions

24. Questions? Budget Presentation