Florida Department of Education
CONTACT PERSON NAME: David Montford PHONE: (850)488-5142 July 24, 2001 SUNCOM: 278-5142 DPBM: 02-14 MEMORANDUM TO: District School Superintendents FROM: Wayne V. Pierson SUBJECT: 2001-2002 Florida Education Finance Program Second Calculation Attached is the second calculation of the 2001-2002 Florida Education Finance Program. This calculation has been prepared following the July 16 receipt of the Department of Revenue certified tax roll. Required Local Effort millage rates were recalculated and certified by the Commissioner in a memo to all districts dated July 18, 2001. The information attached to the Commissionerís memo is derived from this calculation. This calculation differs from the Conference Report (First Calculation) due to revisions to the tax roll and levels of assessment. The FEFP components that changed are the Required Local Effort Millage rate, Potential Supplemental Millage rate, Required Local Effort, Sparsity Supplement, Lab Schools Discretionary Contribution, Discretionary Tax Equalization, and Minimum Guarantee Adjustment. All other component calculations are provided for your convenience; however, they remain unchanged from the Conference Report. In comparing the second calculation with the first calculation, please note the following: 1. The 2000 tax roll increased by $18,997,991,226. 2. This increase in the tax roll caused the statewide average millage rate to decrease from 5.940 to 5.800. 3. Total Required Local Effort decreased by $19,195,060. 4. Potential basic discretionary revenue (potential .510 mills) increased by $9,204,526 due to the tax roll increase. 5. Potential supplemental discretionary revenue (maximum potential .250 mills) increased by $161,104 as a result of tax roll increases in several districts. The supplemental discretionary millage rates have been recalculated using the certified tax roll (page 23). 6. The Discretionary Tax Equalization state funds (page 23) decreased by $122,101 as a corresponding offset to the potential supplemental discretionary revenue increase indicated in item 5. Please remember that in order to be eligible for the Discretionary Tax Equalization state funds, the .510 mills (item 4), as well as the .250 mills (item 5), must be levied. Please refer to page 33 for each districtís 2001-2002 total potential nonvoted millage. 7. The 1.0 percent Minimum Guarantee Adjustment decreased by $19,245. 8. The Net State FEFP funds increased by $19,059,284 as a result of the decrease in the Required Local Effort and the increase in the Lab Schools Discretionary Contribution, and is offset by decreases in the Minimum Guarantee Adjustment and the Discretionary Tax Equalization. Electronic funds transfers from the Net State FEFP allocation began on July 26, 2001. WVP:DGM:vb Attachments cc: District Finance Officers FTE Administrators

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