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July 11, 2023 Work Session
Title
Revisions to Policy 6180.01 Allocation and Use of Sales Surtax and New Administrative Procedure 6180.01
Meeting Date(s)
Information - 08/08/2023
Public Hearing - 08/08/2023
Action - 08/22/2023
Consent Type
Discussion

One of the proposed changes to Policy 6180.01 implements new language enacted by the Legislature and signed by the Governor in the 2023 Legislative Session in CS/CS/HB 1259. The legislation changes the way that sales surtax revenue is allocated to charter schools. Prior to the new legislation, the charter share was based upon the proportionate share of total enrollment. The new legislation changes the calculation to be passed on the proportionate share of “total school district capital outlay full-time equivalent enrollment as adopted by the education estimating conference.” 

The total school district capital outlay full-time equivalent (COFTE) enrollment is a number that is provided to the District each year on or about July 1. The preliminary number for FY 24 is 59,800. Starting with sales surtax collected after July 1 (September revenue), the calculation will use the District COFTE of 59,800 and the charter school enrollment – estimated at 10,000. This will increase the charter schools’ share from 11.603% to approximately 14%.

The second proposed change adds language that codifies how net interest earned is allocated and used. Since the 2014 sales surtax revenue exceeded the program goal, any net interest received on these funds will be allocated to contingency for use on projects. Net interest received on 2020 sales surtax revenue will be allocated the same as sales surtax revenue - 15% to security, 15% to educational technology and 70% to facility renewal. 

A new administrative procedure is proposed to codify:

  • Sales surtax revenue shall be invested in accordance with Board Policy 6144 - Investments
  • Net interest earned on the 2014 program and the 2020 program shall be separately recorded each fiscal year
  • Net interest earned shall be reported to the Independent Citizens Oversight Committee (ICOC) and summarized in the ICOC Annual Report to the School Board

The ICOC reviewed the policy revisions and new adminstrative procedure on June 26, 2023 and recommended approval. 

 

Recommendation

Review and approve revisions to Policy 6180.01

Authority for Action
F.S. 1001.42
Involves Expenditure of Funds Directly in the Classroom
No
Source of Funding

Agenda Item will not Require the Expenditure of Funds
Financial Impact
FY Amount Budgeted Fund Cost Center Project Function Object Program
                 
Legal Counsel Review
No
Contact
Susan Hann, P.E., Assistant Superintendent Facilities Services 633-1000 ext. 11446
Attachments
1 - po and ap with Coverpages for Upload 6180.1.pdf
HB 1259 engrossed.pdf
Agenda Plus