School District of Osceola County

Overview of Budget & Millages

August 6, 2009

2

Osceola

County

School

Board

Members

3

2008 – 2009

OSCEOLA COUNTY SCHOOL GRADES DISTRIBUTION

4

5

Budget ReductionsJanuary 2009 to Present

Million

Total 38.5

Salaries 17.0

Schools % 5.5%

Departments % 8.7%

Insurance Premium Increases 3.5

Shift Costs to Capital Project Funds 4.7

Energy Savings Program

No Raises

Millions

Stimulus Funding 18

Stabilization Grants 12

Total 30

Applied to Salaries 22

6

American Recovery & Reinvestment Act

7

General Fund BudgetProjection Without .25 Mills

Millages

Recurring Revenues 351.9

Recurring Appropriations 357.3

Shortfall (5.4)

8

Value of .25 Mills

Local Tax

School Tax Roll 22,933,780,727

Value of .25 Mills 5,446,773

State Compression Adjustment

Unweighted Students 50,656.72

Osceola value of .25 mills per student 107.52

Statewide average per student .25 mills 149.35

Compression per student 41.83

Compression Adjustment 2,118,971

Total .25 mills plus compression 7,565,744

9

MillageGeneral Operating

Required Local Effort 5.165Basic Discretionary Operating 0.748Discretionary Critical Needs 0.250

Basic Discretionary Capital Outlay 1.500

Debt Service 0.000

Total Millage 7.663

Proposed Millage Rates FY 2009-2010

10

Tax Millage & Levy History

2000-2001 9.231

2001-2002 8.871

2002-2003 8.812

2003-2004 8.798

2004-2005 8.514

2005-2006 8.367

2006-2007 7.782

2007-2008 7.772

2008-2009 7.513

2009-2010 7.663

11

Rolled-Back Proposed Rate Millage % Change

Required Local Effort 6.168 5.165 -16.26%Total Millage 9.160 7.663 -16.34%

Rolled Back Rates Comparison

1212

Tax Levy Comparison

2008-2009 2009-2010

Tax Roll 27,185,791,325 22,933,780,727

Total Millage 7.513 7.663

Total Levy 204,246,850 175,741,562

Change in Tax Levy (838,850) (28,505,288)