1. 2 Unweighted FTE ◦ State-wide growth 14,103 FTE’s School Taxable Value ◦ State-wide...
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Transcript of 1. 2 Unweighted FTE ◦ State-wide growth 14,103 FTE’s School Taxable Value ◦ State-wide...
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State Highlights
Unweighted FTE◦ State-wide growth 14,103 FTE’s
School Taxable Value◦ State-wide increase of $74.9 Billion
Florida Education Finance Program (FEFP)◦ From State $10,647,636,300◦ From Local $ 8,236,445,706
Base Student Allocation (BSA) ◦ $4,031.77◦ An increase of $279.47 or 7.45 % from prior year
Total FEFP Funds per UWFTE ◦ $6,937.23◦ An increase of $176.14 per FTE or 2.61% from prior year
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Pasco Highlights Unweighted FTE
◦ 67,029.79◦ Projected increase of 925.28 FTE’s
School Taxable Value◦ $22,408,154,786◦ An increase of 4.77% from prior year
Florida Education Finance Program (FEFP)◦ Total $475,189,637
From State $350,687,890 From Local $124,501,747
Base Student Allocation (BSA) ◦ $3,993.07 compared to the State amount of $4,031.77
Total FEFP Funds per FTE ◦ $6,992.70 compared to the State amount of $6,937.23
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Student Enrollment(Unweighted FTE)
Projected Enrollment 67,955.07, an increase of 925.28 over last
year
64,000.00
64,500.00
65,000.00
65,500.00
66,000.00
66,500.00
67,000.00
67,500.00
68,000.00
68,500.00
07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15
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School Choice Enrollment (Charter Schools, McKay Scholarships, DJJ Centers)
-
500
1,000
1,500
2,000
2,500
3,000
3,500
07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15
Enroll
ment
Charter Schools McKay DJJ
Projected enrollment in FY 2014-15 3,762 FTE’s, an increase of 607 over last year. Total amount distributed for school choice $23.3 million.
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Total Funding per Student
$7,114
$6,886
$6,536 $6,601
$6,317$6,461
$6,835$6,993
$5,000
$5,500
$6,000
$6,500
$7,000
$7,500
07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15
Student Funding (State) State Funding (State & Federal)
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Budget SummarySchool Year School Year
SUMMARY 2013-2014 2014-2015 Difference
Florida Finance Education Program & Categoricals 337,919,663$ 350,687,890$ 12,768,227$ Local Funding (Property Taxes) 120,256,060$ 124,501,747$ 4,245,687$
TOTAL POTENTIAL K-12 FUNDING 458,175,723$ 475,189,637$ 17,013,914$
Net increase of $17,013,914
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Categoricals
Digital Classroom Allocation new for this school year
Digital Classroom Allocation $799,616 Teacher Lead Funds $22,731 Instructional Materials, Safe Schools, Reading Allocation, Virtual Education Categoricals, AP, IB & Industry Certification
$1,340,015
TOTAL CATEGORICALS $2,162,362
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Estimated Cost Increases
Total amount that impacts employees
$11,584,592
INCREASES TO BUDGETEnrollment Increase in School Choice and McKay Scholarships (based on 607 FTE's) $2,423,790Opening Schools (Sanders Memorial, Shady Hills and Quail Hollow Elem) $500,000Property Insurance $108,000Professional Development & Curriculum Mandates $2,823,375Retirement Increase from 6.95% to 7.37% $1,436,779Reinsurance Fee ($63.00 per insured, per year) and the Patient Centered Outcome Research Fee ($2.00 per insured, per year)
$675,000
School & District Allocations (176.228) $7,930,467Increase in Health Insurance Premiums $1,542,346TOTAL 17,439,757
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Summary
Total Available for Salary Increases $3,074,355
Increase in State Funding $17,013,914Less: Categoricals ($2,162,362)Less: Required Costs ($17,439,757)Add: Energy Savings $1,000,000Add: Roll Forward Funds $3,000,000Add: Savings from closing the Early Retirement Program $1,662,560TOTAL AVAILABLE FOR SALARY INCREASES $3,074,355