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)

7

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

12

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

14

• 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

15

• 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.

17

GeneralFund

GeneralFund

18

• 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

19

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

26

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%

28

Appropriations

BudgetImplications

29

• 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

32

• 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)

34

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

36

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)

39

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