Palm Valley Academy SAC Meeting on School District Funding - March 5, 2024
This document showcases the agenda and key financial details discussed at the Palm Valley Academy SAC meeting regarding school district funding, including the 2023 Legislative Session impact, budget challenges, and fund allocation. It also highlights changes in statewide funds and the increase in Base Student Allocation for the 2023-24 academic year.
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Palm Valley Academy SAC Meeting School District Funding March 5, 2024 1
AGENDA 2023 Legislative Session (highlights and impacts) 2023-2024 Final Conference Report 2023-2024 Budget Challenges Overall Financial Condition Questions & Answers 2
Where are the dollars budgeted? General Operating Federal Revenue & Food Service Capital Outlay Debt Service 4
2023 Legislative Session Statewide Total State & Local Funds per Full Time Equivalent (FTE) Base Student Allocation (BSA) 2022-23 4th Calculation vs. 2023-24 Final Conference Report Total State & Local Funds Percent Difference $8,243.44 State Funds ~ 55.35% Local Funds ~ 44.65% FEFP Fourth Calculation $4,587.40 Conference Report (SB 2500) 05-2-2023 State Funds ~ 54.23% Local Funds ~ 45.77% $5,139.73 $8,648.11 Difference $552.33 $404.67 Total Percent Difference 12.04% 4.91% *2022-23 FEFP Fourth Calculation vs. 2023-24 Final Conference Report 5
2023 Legislative Session Statewide Base Student Allocation (BSA) Increased by $552.33 Equates to an increase in BSA of 12.04% over the 2022-23 year FEFP Restructured State-wide increase of students 117,372 District Cost Differential (DCD) = Comparable Wage Factor (CWF) Supplemental Academic Instruction (SAI) = Educational Enrichment Allocation (EEA) Teacher Salary Increase Allocation (TSIA) = Classroom Teacher and Other Instructional Personnel Salary Increase State-Funded Discretionary Supplement Reading Allocation, Textbooks, Teachers Classroom Supply 6
2023 Legislative Session Statewide Classroom Teacher & Other Instructional Personnel Salary Increase (formerly known as TSIA) $252.8 million state-wide increase 4.52% of district base FEFP funding is for school districts to maintain 2022-23 TSIA increases 1.41% of district base FEFP funding is for 2023-24 the new TSIA increases By amending this item, it provides flexibility for school districts and charter schools on their use of funds for salary increases for instructional personnel once the minimum base salary requirements have been met (removes school district and DOE reporting requirements). 7
Florida Education Finance Program (FEFP) The formula is simple: # OF STUDENTS IN EACH PROGRAM X COST FACTORS = Weighted FTE (WFTE) X BSA X CWF (comparable wage factor) = Base FEFP 8
State Funding Categories State-Funded Discretionary Contribution 0.748 Mills Discretionary Compression Safe Schools ESE Guaranteed Allocation Educational Enrichment Allocation DJJ Supplemental Allocation Student Transportation Federally Connected Student Supplement Mental Health Assistance Allocation 9
St. Johns County School District FY 2023-2024 ~ Financial Update 1 St. Johns Revenue Increase - FEFP Second Calculation (July 19, 2023) 2 Growth School District (FTE X BSA X CWF)(2,881.39 X $5,139.73 X 1.000) 3 Growth Family Empowerment Scholarship Program (850 student growth X $7,793.57) TSIA / Classroom Teacher & Other Instructional Personnel Salary Increase 4.52% of Base FEFP funding. ($308,333,945 X 4.52%) TSIA / Classroom Teacher & Other Instructional Personnel Salary Increase 1.41% of Base FEFP funding. ($308,333,945 X 1.41%) 6 SJEA-Additional dollars needed for compensation package (total package $5,580,345) 7 Transportation Categorical (funding increase over 2022-2023) 8 Mental Health Categorical (funding increase over 2022-2023) 9 Safe School Categorical (funding increase over 2022-2023) 10 ESE Guarantee categorical (funding increase over 2022-2023) Educational Enrichment categorical funding (formerly known as Supplemental Academic Instruction-SAI) funding increase over 2022-2023 49,299,989 $ (14,809,567) $ (6,624,535) $ 4 (13,936,694) $ 5 (4,347,509) $ (1,232,836) $ (575,582) $ (495,307) $ (678,266) $ (7,237,637) $ 11 (2,053,784) $ 12 Dollars remaining after specific program requirements (2,691,727) $ 11
13 Carry Forward 14 Instructional Materials 2022-2023 Fourth Calculation 15 Reading Instruction 2022-2023 Fourth Calculation 16 Teacher Classroom Supply Allocation $298 per teacher based on 3,112: 2022-2023 17 Teacher Classroom Supply Allocation increased to $300 per teacher in 2023-2024 18 Funding Compression & Hold Harmless 2022-2023 Fourth Calculation 19 Categorical funding moved to Base Student Allocation - must meet state requirements 20 Florida School Board Insurance Trust - Property & Casualty Insurance Renewal Increase 21 Student Transportation (three year average annual increase of expenses) 22 Youth Resource Contracts & Charter Schools (estimated increase over 2022-2023) 23 Medical Insurance - School Board portion increase 24 Utilities - Electric, Water, Sewer (three year trend 13.03% annual increase) 25 Florida Retirement System (FRS) - Rate increase July 1, 2023 26 Committed Fund Balance Reserve Requirements (2,691,727) $ (4,495,643) $ (2,886,625) $ (927,300) $ (43,500) $ (1,318,128) $ (2,874,796) $ (2,421,379) $ (728,364) $ (590,532) $ (1,200,797) $ (4,708,650) $ (1,715,532) $ 27 Carry Forward less known expenditure increases (26,602,973) $ 12
Overview Revenue / Expenditures / Fund Balance Revenues + Transfer In Expenditures Revenue less Expenditures 453,619,497 457,915,675 (4,296,177) $ $ $ Fund Balance June 30, 2021 $ 65,453,284 Fund Balance June 30, 2022 Fund Balance June 30, 2023 Fund Balance 2022 vs. 2023 $ $ $ 48,181,497 43,885,320 (4,296,177) 13
Financial Review General Fund - By Expense Expense 2021-2022 (WTB 2022-23) $ $ $ $ $ $ $ $ 2022-2023 (as of 8/9/23) $ $ $ $ $ $ $ $ Variance 26,957,029 $ 5,724,609 $ 5,303,378 $ 1,390,076 $ 1,881,617 $ $ $ 42,482,181 $ Salaries Benefits Purchased Services Energy Supplies Capital Outlay Other 246,947,992 92,550,076 32,027,956 9,483,854 14,209,454 4,215,367 6,124,771 405,559,471 273,905,021 98,274,685 37,331,334 10,873,930 16,091,071 5,084,749 6,480,861 448,041,651 869,382 356,090 14
Expenditure Categories ~ FY 2022-2023 1 2 3 4 5 6 7 8 9 10 Purchased Services (Professional/Technical, FSBIT, Rentals) 11 Energy Services (Electricity, Diesel) 12 Materials & Supplies (Supplies, Textbooks, Repair Parts) 13 Capital Items (Improvements, Remodeling) 14 *Data as of August 10, 2023 Raise Package SJEA~Salary + Benefits Raise Package SJESPA & Minimum Wage Mandate (October 1, 2022) + Benefits New Instructional Hires, Extra Duty, Critical Shortage, Employer portion benefits Beachside High School Staffing First Year Core Team (Salary & Benefits) Beachside High School Staffing First Year (Non salary expenses) Overtime (amount spent over previous year) Substitutes/Miscellaneous Expense (amount spent over previous year) Florida Retirement System (amount spent over previous year) Additional Support Allocation (amount spent over previous year) $ $ $ $ $ $ $ $ $ $ $ $ $ $ 6,628,248 5,203,115 8,326,294 1,944,648 1,456,314 281,284 356,090 6,195,058 2,646,676 5,303,378 1,390,076 1,881,617 869,382 42,482,181 Sub-Total 15
Overall Financial Condition General Fund Fund Balance (in thousands) 100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 - 2015 2016 2017 2018 2019 2020 2021 2022 2023 Nonspendable Restricted Committed Assigned Unassigned Total 16
General Fund Balance (in thousands) Fiscal Year Ended June 30 2013 2014 2015 2016 2017 2018 2019 2,156 $ 3,125 9,810 31,874 15,867 62,832 $ 2020 2,157 $ 2,160 10,366 43,755 6,207 64,645 $ 2021 6,062 $ 2,819 10,715 42,489 6,427 68,512 $ 2022 3,845 $ 2,658 12,169 29,211 48,181 $ 2023* 2,766 $ 2,768 13,885 24,466 43,885 $ Delta (1,079) $ $ 1,716 $ (4,745) $ (298) $ (4,296) $ Nonspendable Restricted Committed Assigned Unassigned Total $ $ 409 412 9,840 34,231 22,533 67,425 $ $ 456 505 $ $ 447 559 9,343 31,891 5,990 48,230 $ $ 459 737 8,496 27,593 5,799 43,084 $ $ 832 771 8,802 24,608 12,814 47,827 $ $ 692 1,951 9,201 27,890 15,197 54,931 110 10,084 44,866 3,719 59,630 298 - Annual Increase/(Decrease) $ 419 $ (7,795) (11,400) $ $ (5,146) $ 4,743 $ 7,104 $ 7,901 $ 1,813 $ 3,867 (20,331) $ $ (4,296) (24,627) $ Total Revenue % Total % Assigned % Unassigned 218,701 $ 236,487 $ 251,420 $ 19.2% 12.7% 269,644 $ 16.0% 10.2% 289,577 $ 16.5% 307,504 $ 17.9% 331,432 $ 19.0% 349,894 $ 18.5% 12.5% 362,026 $ 18.9% 11.7% 384,366 $ 12.5% 453,619 $ 69,253 $ -2.9% -2.2% -0.1% 30.8% 15.7% 10.3% 25.2% 19.0% 1.6% 9.7% 5.4% 0.0% 8.5% 4.4% 9.1% 4.9% 9.6% 4.8% 7.6% 0.1% 2.4% 2.2% 1.8% 1.8% % Assigned + Unassigned 26.0% 20.5% 15.1% 12.4% 12.9% 14.0% 14.4% 14.3% 13.5% 7.7% 5.4% -2.3% Budget Shortfall YOY Change $20,055 $1,106 $23,551 $3,496 $23,586 $17,874 ($5,712) $12,363 ($5,511) $12,253 ($110) $13,224 $971 $17,335 $4,111 $22,889 $5,554 $5,943 ($16,946) $35 *Unaudited Financial Statements - Working Trial Balance 17
State Education Funding Trends 2010-2011 Budget $ 70.4 Billion 2023-2024 Budget $117.0 Billion General Government, $10.0 billion, 9% Judicial Branch, $0.7 billion, 1% Judicial Branch, $0.4 billion, 1% General Government, $4.5 billion, 6% Corrections, $6.0 billion, 5% Corrections, $4.7 billion, 7% Health Care, Social Services, $28.5 billion, 40% Transportation, Natural Resources, $22.7 billion, 19% Transportation, Natural Resources, $9.8 billion, 14% Health Care, Social Services, $47.3 billion, 40% Education, $22.5 billion, 32% Education, $30.3 billion, 26% 18
Questions/Discussion Other topics 19
