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2

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