CONTACT PERSON NAME: David Montford Linda Champion PHONE: (850) 488-5142 SUNCOM: 278-5142 April 30, 2002 DPBM: 02-89 MEMORANDUM TO: District School Superintendents FROM: Wayne V. Pierson SUBJECT: 2001-02 Florida Education Finance Program Fourth Calculation Attached (PDF 2,806K) is the fourth calculation of the 2001-02 Florida Education Finance Program. This calculation incorporates 2001-02 FTE and Supplemental information prepared from the summation of July, October, and February survey data and the estimate for June. The 2001 ad valorem tax roll certified by the Department of Revenue on March 18, 2002, was used in the calculation of required and discretionary local effort. In comparing the fourth calculation with the third 2001-02 calculation, the following summary-level changes are noted: 1. Unweighted FTE decreased by 2,155.75 from 2,455,064.52 to 2,452,908.77. 2. Funded weighted FTE decreased by 49.23 from 2,673,972.19 to 2,673,922.96. The Group 2 over-cap weighted FTE is 5,720.80; the under-cap total is 15,542.68. 3. FEFP Base funding decreased by $634,174 from $8,826,805,319 to $8,826,171,145. This decrease is a result of the funded weighted FTE decrease. 4. Declining Enrollment decreased $98,740 from $2,234,633 to $2,135,893. 5. The Lab School Discretionary Contribution decreased $4,127 from $507,609 to $503,482. 6. The Discretionary Tax Equalization State Supplement remained the same. 7. Total Required Local Effort (RLE) decreased $9,908,221 from $4,389,382,485 to $4,379,474,264. 8. Total Prior Year Adjustments are $2,352,585. Individual district amounts may be significant due to inclusion of the net earned vs. paid as a result of the final 2000-01 calculation. 9. Primarily as a result of the decrease in required local effort and the increase in the prior year adjustments, it was necessary to prorate calculated funds down to the level of the 2001-02 Legislative Appropriation. The overage of $11,516,507 is prorated against the Gross State and Local FEFP to produce the prorated amount, which is then deducted from the calculated state entitlement. Please refer to page 3. 10. The Net State FEFP increased $7,258 from $6,126,358,483 to $6,126,365,741. 11. The estimated amount withheld for scholarship programs is $29,234,594. Distribution of FEFP and Discretionary Lottery Funds as a result of the revised allocations will begin with the May 10, 2002, electronic funds transfer. WVP:DGM:bb Attachment cc: Finance Officers FTE Administrators
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