Uncertainty about impending effects of the 2023 Florida state legislative session hung a cloud over otherwise good news in the March 28 budget report to the Monroe County School Board from Beverly Anders, the district’s executive director of finance and performance.
Owing to anticipated increases in property tax revenues, $500,000 in anticipated expense savings, and decreases in salary expenses as the district struggles with staff retention, Anders said she expected an increase of roughly $6 million in the district’s unassigned fund balance for 2022-23, bringing the fund to a balance of $17 million. The new balance would represent about 13.23% of the district’s yearly revenue.
Anders said she anticipated about a 25% increase in property taxes for next year’s budget, but cautioned the board that it would likely need to look at saving more in its unassigned fund. As such significant yearly jumps in property values are unlikely to continue, she said these savings would prove crucial as the district looks to continue its raises for staff, a priority championed by Superintendent Theresa Axford.
Raises of $5,000 per teacher – $4.4 million total – are budgeted for next year, and a meeting with the United Teachers of Monroe union is set for Monday, April 24.
Though the district began its budgeting process several months early, as pointed out by board chair Andy Griffiths, results of the ongoing Florida legislative session could have major implications for next year’s budget.
An already-anticipated $500,000 increase in retirement costs could balloon to a $5 million price tag with the potential passage of House Bill 239 to amend the Florida Retirement System.
In addition, House Bill 1, signed into law by Gov. Ron DeSantis on March 27, could potentially cost the district about $2.5 million extra in Family Empowerment Scholarships in 2023-24. The scholarships are designed to financially assist students in kindergarten through 12th grade who choose to attend a private school or public school other than the one they were assigned, as well as providing families of students with disabilities the option to receive a personal Education Savings Account (ESA) for their student. The scholarships added an additional cost of $900,000 to the 2022-23 budget.
The exact cost for next year is still uncertain, Anders said, but her estimate was calculated based on the number of homeschooled students in the district who are not currently enrolled in the program.
“It’s very much up in the air with a lot of things to watch,” Anders told the board. “Really, until May 5, it’s going to be very difficult to anticipate what’s going to happen.”
