0012026 final bud mill rates and proposed final budget public hearing at the Joan Idollet Junior TEC. Today is Tuesday, September 9th, 2025 and I would like to call this meeting to order. The time is 501. I ask out of respect to everyone please silence all electronic voices devices my voice is too loud Chris also if you have any material you would wish to share with any board member please give that to our executive assistant Mrs. Moray, if anyone is present that's present would like to address the board regarding action item 5A. 5A only. Um that is the tax anticipation note on this agenda. Please raise your hand now so I may sign you up to speak when we get to that agenda item. Seeing no hands, um anyone wishing to speak to that item will
002have three minutes. Okay, moving on. Please stand for the pledge of >> allegiance. Allegiance to the flag of the United States of America and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all. [Music] >> All right. Thank you. The purpose of the special meeting is twofold. First, we will have two public hearings on the adoption of the 2025 2026 proposed final millillage and the final budget, followed by input from the public during the public hearing input portion. Therefore, the school board will consider approval of the proposed resolutions for each and roll call votes. There will be an opportunity for the public to speak during the public hearing portion of the final millillage and the budget as well as on the proposed tax anticipation note, although no
003one did sign up for that. Um, I'm going to ask for a call to mo motion to adopt the orders of the day. >> So move. >> Okay. Dr. Jones and Mr. Dyer. Any discussion? >> All those in favor say I. >> I. >> Any opposed? Okay, it passes 4 Z. Um, Dr. Pasca is not here and uh Dr. Moore is on teams and uh we have a new person filling in over here on the seat tonight and that is Mr. Bruce Green, our CFO, which is appropriate for this meeting. All right. So, this is a special meeting. We are to focus on the final mill rates and the final budget special meeting public hearing. And I'm going to recognize Mr. Green for uh the purpose of this special meeting. Oh, Dr. Moore, sorry. Recognizing
004you. Thank you. Uh, all I really was going to do was was turn it over to Mr. Green, but I I appreciate that. So, I'll I'll save my appreciations and thanks uh until after the presentation. Um, but I'll Bruce to go through the items and then I'll follow up. >> Thank you, Dr. Moore through the chair. So, um, as the chair mentioned, tonight you'll have five items. You will have a discussion on the 10, uh, final millage rates. You'll then have a public hearing where you'll accept any public input and then you'll adopt those millage rates via resolution. The second I second set of items after that is we'll have a discussion on the final budget. You will gavel into a public hearing where we'll take any feedback from the public. After we gavel out
005from that, then you will adopt a resolution adopting the final budget. The fifth and final item is an action item under the special meeting, not under the public hearings to consider approval of a tax anticipation note um to address cash flow issues um as we go along. And in the um audience, we do have members of the finance team that have um done the yman's uh work in this um task as well as um representatives from our bond and finance counselors uh that have been uh helping us along the way and that is the purpose of the meeting. >> Thank you sir. All right. So this item deals with the 2025 2026 final millage rates. Dr. Dr. Moore, have you documented that the public hearing has properly been advertised in accordance with state statutes? >>
006We have. >> Okay. We now recess this meeting to conduct the public hearing as advertised. The public hearing is now in session. The time is 50:05. Dr. Moore, are there any written responses to the advertised public hearing to be read at this time? >> Not at this time. >> Okay. And you haven't received any, right? >> No. Okay, I just want to make sure. >> And the public is invited to address this issue at this time. Is there an individual representing an organization or anyone of his own personal or public interest who wishes to speak? Okay. I will conclude that everyone has had an opportunity to speak. No one has come forward. The announced public hearing on the 2025 20226 final millage rate has been conducted pursuant to notice and ample opportunity to address the
007issue has been provided to all. The board meeting is reconvened at this time. It is 506. I'm going to call for a motion. >> So move. >> Dr. Jones. Second. >> Second. >> Mr. Dyer. Any discussion on the military? >> Uh Dr. Mr. Johnson, >> just one thing um obviously we have not had any changes in our millage rates and I just want to again um thank our community for our 0.5 millillage and that is the um district school tax additional millage. We use that money for our teachers. We use that money for technology. So I just want the community to know that we are very grateful. >> Anyone else? >> Yeah. Yes, >> Mr. Dyer. Uh I I just like to add that I I think that this budget even with the millillage when
008you uh take away the family empowerment scholarships is about a 1% increase. And uh as I've said many times, I think that we need to do a lot more to support the teachers, the staff, and the leadership of this district who has given us a high-erforming, meaning a very financially sound district and an A district three uh three years in a row, who has achieved from 38th four years ago to fifth in the state and has a goal of being number one in the state. So I I think that uh while this budget uh seems uh uh large, I don't think that it really is uh giving the incentives or the support to uh the team in this district who has delivered outstanding results. >> Okay. All right. So this is um we're voting on
009the millage rate itself. We have not changed it. It is still 0.5. We have not increased it. It's been the same. Um we're being good stewards of the taxpayers money. We appreciate all that you guys do to make sure that all those numbers are in the right order. And um I just appreciate the fact that we're able to give our um teachers the technology they need and to pay all the teachers what we need to pay them. So um at this time I'd like to ask for the vote. All those in favor say I. >> I. Anyone opposed? Okay, that passes 4 Z and we are now to the approval of the resolution of the adoption of the final millage rates. So there is a resolution and um I are you going to read the
010resolution or do I need to read it, Bruce? >> Um I would just read the um the millage rates into the record if that's okay. >> Okay. So >> that would be the final >> for the um for the final mill rates the required local effort is 3.0050 the basic discretionary operation 7480 capital outlay 1.500 and additional voter discretionary operating 0500 for a total millage of 5.7530. >> Okay. Thank you. I'm going to call for a motion for approval of the resolution number 2026-03 adoption of the final mill rates. >> So move. >> Okay. Dr. Jones, Mr. Zarya, I'm going to recognize Miss um Mor for a roll call vote, please. >> Dr. Pasca is absent. Miss Rosario, >> yes. >> Dr. Jones. >> Yes. >> Mrs. Baronborg. >> Yes. >> Mr. Dyer. >> Yes.
011>> The motion passes with a vote of 4 Z. Um, Dr. Moore, would you like to say anything? >> No. Just very appreciative. >> Okay. Oh, that's the budget resolution. Okay. All right. Now, we're moving to the proposed budget. Annually, the district is required to prepare and present the annual budget for the upcoming year in accordance with schoolboard policy 6233 along with chapter 200 of the Florida statute. The budget for 2025 20226 includes the following funds. The general fund, the debt service fund, the capital projects fund, the special revenue fund which includes federal entire entitlement grants and other grants, food service fund, the internal fund which is the district health insurance program, and the enterprise fund which is the district extended day program. Okay, Dr. Moore, um will you um speak to this item? >>
012Absolutely. I'm going to defer that to Mr. Thank you, Dr. Moore. Through the chair, um the total final budget across all funds is $420,465,513 or an increase of 2.95% as compared to last year's beginning budget of $48,4260. as compared to the tenative budget that was brought forward of 418,705881, it's a 042% um difference from what you adopted during the tenative as we closed out the June uh books. Adoption of this final budget um will ensure that we are in compliance with Florida statute, the Florida Department of Revenue, and the Florida Department of Education. >> Okay. Could you explain why it went up from the tentative to now? >> Yes. So when we're preparing the tenative budget, we have not closed out all of the books for June as well. Um we didn't have all the
013information. So last Tuesday at about 4:45 4:46 we received the final capital outlay and debt service numbers as well as the um pension percentages that you need to close out things like the extended day which affects the fund balance. So those changes were to roughly about $200,000 total affected all of the funds except for um didn't affect federal or debt, but it except the extended day capital and general fund. >> Okay. Thank you. Appreciate that. All right. This item deals with the proposed 2025 2026 final budget. Dr. Moore, have you documented that this public hearing was properly advertised in accordance with state statutes? I have >> we now recess this meeting to conduct the public hearing as advertised. The public hearing is now in session. The time is 5:13. Dr. Moore, are there any written
014responses to the advertised public hearing to be read at this time? >> Not at this time. >> Thank you. The public is invited to address this issue at this time. I will open up the um microphone to any individual that is representing themsself or an organization that wishes to speak. The item is the proposed budget. Seeing none at this time, I'm going to conclude that the announced public hearing on the proposed 2025 2026 final budget has been conducted pursuant not and notice and ample opportunity to address this issue has been provided to all. The budget meeting is reconvened at this time. The time is 5:14. I'd like to call for the motion. >> So move. >> Dr. Jones. >> Second. >> Mr. Dyer. Any discussion on the proposed budget? >> I do. >> Okay. Mr.
015Rosario. >> Yeah, I don't know if it's a discussion. Um, but I do have something that I prepared that I'd like to say. Um, I want to begin by thanking Mr. Green, of course, for spending so much time with me. um going through the budget um and Mrs. Copman and your entire team who is always here um day and night on weekends on Sundays. I mean it's it's just incredible the work that you all are doing. Um so I just want to thank you all for for your hard work. Um, I have no doubt that the numbers that have been presented and the work that you all do is um not excellent. I I I believe that it is. Um I believe that you all work uh to be fiscally responsible. Um I don't have
016any qualms with that at all. Um my questions have always been very public. I've been very honest about the process. Um, and that as a board member, being responsible doesn't necessarily mean just being responsible for what is presented to us in a book, but also being responsible within the process as an elected official here. Um, and for me as a board member, I do not feel a part of that process anymore. I feel like we are given numbers. We're given a budget and said this is the way that it has to be and that's it. And I disagree with that because I've been here where we have had no part and then we've had part and then now we have no part again. Um, of course we all have different opinions. I guess that's the
017beauty of being in this position, but in my heart of hearts, I wish I can separate and vote for the people and then the process. And I can't do that in this case. And it's really just it's tearing me apart because I don't want to hurt anyone's feelings who have worked so hard completely transparent here. Um however I don't believe that as board members we have had a critical role in this process. Um I don't believe that our we have had a voice in the priorities of the of the of the budget which is by law um our right and so um I want you all to know everyone here that I wholeheartedly am grateful Mr. Green wholeheartedly. Um, with that said, I'm I'm sure others have different feelings, but for me, um, I just
018won't be able to adopt the budget for this reason. Hope you all understand that. >> Anyone else like to speak? Dr. Jones. >> First of all, thank you, Mr. Green, and the entire budget department. Um, I'm one of those that have requested extra meetings, and every time I do, Mr. Green, Mr. Copman, Miss Copman, and um last time our new uh person in there, Mr. Caswell, just thank you. Um I look back at our workshops and I believe there were five workshops where we had budget updates and every individual meeting as a board member with Dr. Moore and cabinet and Mr. Green, I was updated on budget. So I feel very very comfortable with that. I used to be part of sitebased budgeting and we did as schools go through the function object code and
019so forth and that's what a school does that's what a principal does with zerobased budgeting and I understand that and I certainly um trust uh our CEO our CFO and our principles to do the job when we received information on the internal audits and Mr. Mr. Green, correct me, there were several that had none, several that just had one. And as a high school principal knowing about those audits, that's a very exemplary exemplary evaluation. >> Just for the record, there were 11 with none and six with only one this time. Thank you to the staff sitting in front of me. >> I didn't have that in my notes. >> Had to get the plug in. >> And then um we'll talk about this later with the tan, how Mr. Green was waiting so diligently to
020see if that would drop on the interest rate and how that would save us money. I thought, man, there's nothing better. And I want to remind the public there weren't any taxes raised. Property value went up. So, our taxes went up. And again, that 0.5 millillage for our school district means a lot. And I think we're showing you the desired outcome with the A and hopefully all schools be an A and then a number one. So I believe that um when you start with the end in mind and that's an a school district with growth then we are doing the job for our community when we spend their money. Um this district this school district is accountable for every penny in the operational in the capital in the internal in the enterprise funds. You can
021check that on a regular basis. We are responsible. Um question Mr. Mr. Green, did we ever receive the fourth count FTE? >> We have not received the fourth calculation for last year, which would have been based on the February or 3rd survey. We have not received that yet. >> All right. Still still some issues with that. Okay. Um, but I just in general, I will talk a little bit more when we get to the TAN. um the work that goes into to make this work and putting uh I guess our money where our mouth is. Putting that money in the classroom is important. And I just want to remind everybody in the reorganizational chart, we cut 17 positions from the district, saved $1.7 million. We are good stewards of our money. Thank you. >> Okay,
022Mr. Mr. Dyer, you would like to say anything? >> Yeah, I' I'd like to say that I feel like we've had a very robust and ample uh budget process that's been going on for many months. I think you started it this year earlier than we ever have. Uh I I think that one of the things that you see is we can't control our revenue. The only thing we can control is the expense. uh when you look at the at the revenues that come from the state and from the local millillage uh which is the basic allocation at 3.055 055 uh mill. Uh there is nothing that we we have to assess that that's the basic allocation. If you look at our budget in total and you look at the funds that we see receive with
023the state because we have high property values, we receive what some 40 million from the state. Uh >> 45 million. After you take away the charter schools, which have to be funded from the budget, which are public charter schools, plus the family empowerment scholarships, how much of that 45 million from the state is left? >> Um 19 and 25 20.4 U 5.8 >> 5.8 million. So out of the state funds that we get, which sounds substantial, only 5.8 million >> is left for our school district. When you look at what happens, I mean, we have done, you talk about getting the bang for your buck and performing, this school district has done it. I mean, you look at what's going on, healthc care was up 18.5%. Our school budget net after the the scholarships is
024only up 1%. I think the school has been very good stewards of the uh of the taxpayers money. And you can compare us to an equal-sized district in Martin County. They have a sales tax uh which adds to their budget. Uh so uh I think they are some 1520 million more a year than we are. And I I I think that the performance that we have gotten again three A's in a row, high performing school district on a budget that has been kind of under siege from state unfunded programs. Well, I guess they are funded. They're funded from us uh without uh you know they they take it away from the school districts. They're kind of defunding public schools as I've been saying. Uh I think that this district has performed admirably. They've been able
025to adjust to the circumstances. Uh the scholarships last year, I think we had to wind up cutting another $7 million from the budget because we actually had more scholarships than the state had estimated in our final budget. We have reacted to that. We have innovated. We now have gone from I visited a school today. was an F school four years ago and it's a A school last year. We only have A and B schools in our district. We have done a remarkable job with the taxpayers money delivering results and uh again I think that that is attributable to the everybody in the school district. They have done a remarkable job and I think that this budget team has done a fantastic job too. all of you having to react to again, you know, I the
026the state uh we have to do things in 24 or 48 hours that they've had a year to do. Uh they come through with their numbers at the very very last minute and then you guys have to react to get it out to to meet the state deadline. Uh what did you have from the last one at 4:45? You had a couple of days to turn it. >> Yeah. >> Uh which is which is unbelievable uh what's been going on. So again, thank you for the job well done from the whole finance team. You guys are remarkable. Thank you to the school uh district and the leadership, the teachers for what they have done in delivering results. And thank you for the taxpayers for continuing to support a really fantastic school system that's only going
027to get better. >> Wow. I don't know what else I can add to that. Um I agree. I mean, fantastic team. Thank you for your hard work and being here on weekends. I saw all your cars. Um I I actually have been here for hours today but running at the last second for this. Um I did attend yesterday the central coalition meeting and it was interesting because we were talking about a lot of the problems that other districts were are facing. Some of them were the same, some of them were totally different, but we could relate. And that is we were talking about um building new schools and how much the cost is and how charter schools don't have to make them hurricane proof, but yet we have to make them hurricane proof. So, they're
028a lot more expensive. Um but we also referred to the fact that like us other districts have schools that are older and that we have to repair those schools and even if your um numbers are going down you still have those state same buildings and we can't use the impact fees because those are used for new um building. I'm I'm working on that by the way impact fee thing. Um, but what I learned was that um, a lot of them were talking about innovative ways that they were using that money or getting money to do that to repair their old buildings and a lot of them were doing taxes. They were doing sales taxes. A lot of them, as a matter of fact, we were the only ones that weren't. And so I I just
029want to put it out there that what your team is doing with the money that we receive is is remarkable because we're not getting all that extra money that everybody else is getting to do what we need to do. Um so there might be a time down the road. Um the other thing is um I was at the county commission meeting today. Um and I spoke to them during a recess about one of the items that refers to schools. I was interested in it. Um, but I saw a gentleman that spoke at the last meeting that said that our that his school taxes are going to kill him and that he's not going to be able to make, you know, be able to pay them. It's just too much and the schools are ridiculous. People
030still don't understand required local effort and that a lot of that money goes and gets spread out all over the state. Um, but they also don't understand that when your value of your house goes up, your taxes follow. And so, thank you for making that point because I think people think that we're raising the taxes and they don't understand their property values are going up as well. Um, we have a $420 million budget right around. So, we are the biggest employer, the biggest budget in the county. And I think you'll see from the taxpayers associ association, everyone else, they agree that you're doing a great job. And from all the things that you said, Mr. Dyer, and that you said, Dr. Jones, I totally can support this. And the reason why is because we have
031been a part of this all along, little bits all along. We've had those conversations with the superintendent. We've had individual conversations and we've had our own conversations about how we need to look at the forecast of our school district, what needs to happen, how we change our schools, how we move and and change with the money and the flow. So, I agree. We have been a part of this the whole way. I don't understand how a board member can't feel like they're part of this the whole way. um because we have had those conversations and all of us have had the opportunity anytime we want. You open your door and allow us to come in and I appreciate the time that you gave me and I appreciate everything that you guys do. So, thank you
032all for everything you do. All right, at this time I'm going to call for the vote. All those in favor of the proposed budget for 2025 2026 say I. >> I. Anyone opposed? >> Opposed. >> Three one. It passes. All right. Now we are to the proposed budget amended approval of resolution 20226-04 for the adoption of the final budget which includes the approval of the annual finance report dated as of June 30th 2025 inclusive of cost report and the 2024 2025 final budget amendments of the fiscal year 2024 2025 number 10. Dr. Moore. >> Yes. I'm gonna call for a motion on this. Do you have anything you want to say about what I just said? >> Yes. >> No. Go ahead. >> I know it's very late. We are Okay. Um Sorry, >> Mr.
033Green. >> Anything? >> Nope. >> Okay, we're good. All right. I'm going to call for a motion for approval of the resolution 2026 2000 um 0 2026-04 for adoption of the 20252026 final budget and approval of the 2024 2025 annual finance report dated as of June 30th 2025 inclusive of cost report and the 2024 20225 final budget amendments for fiscal year 2024 20225 number And >> I called for the motion. >> So move. >> Second. >> Dr. Jones, Mr. Dyer. Um, we need a roll call for this. Mrs. Moore. >> Dr. Pasca is absent. Miss Rosario, >> no. >> Dr. Jones, >> yes. >> Mrs. Baronborg, >> yes. >> Mr. Dyer, >> yes. The motion passed with a vote of 3 to one. At this time, we're going to talk about the tax anticipation note,
034the TAN series 2025. All right. Mr. Green will present this item. The chair will recognize any public speakers, but we didn't have any that came forward. >> Thank you, Madam Chair. So, as um as the board discussed, the majority of our funding is through local dollars, which come through our tax revenue, which we generally get in November and December. Um so, the portion that 5.8 million that's there that comes in every twoe payment is um certainly not enough to operate the school district until December. So our uh bond council and our financial council and many of the staff members you see before you, they are constantly running cash flow analysis to see how we can make payroll, how we can keep the operational um system operating and that uh negative cash flow of about $7.5
035million would happen in mid October without this. So this is a common practice for school districts to address the funding mechanism that the state has in place in the FFP for school districts. Um, some school districts might be 75% uh state and 25% local. They would have the cash flow coming in at the beginning. We're opposite um the vast majority local. So, what this is is we put an RFQ out. We got um several banks to respond. Wells Fargo was the most responsive bidder. When you look at total cost of interest with fees and everything included, we're talking about $147,000 all-in fees. Last time it was closer to 200,000. We invest it um in our Florida prime as we um pay that back by December 18th. So during that time, that interest will offset a
036lot of those costs. Last year, that was around 19,000 total net cost after our investment. Um, as you are aware, we were had presented a 3.99% interest rate and you did approve the superintendent's authority to lock in a forward lock agreement. We did not exercise that waiting and um our financial advisor who's with us uh today. Thank you, John and Jerry Ford. Um was pinging me along the way. Hey, 3.98. Oh, maybe a 3.97. Do you want to log in? We waited. So um just prior to this meeting started I met him in the hallway and said give me a number and it's 3.93. So we have locked that in today for that tan which is outstanding. So we appreciate that. This will be a not to exceed $15 million will be executed on the
03712th payback on December 18th and it will help us um pay our individuals to operate the school district. >> Okay. You might have seen my face when I mentioned Tan and that's because I'm not happy. Not because we the gentlemen that are here. It's because it's a little frustrating that the money goes to the state from our taxpayers, then it comes to us in dribbles and the very first cut that we take goes to the charter schools. So, they don't have to deal with this, but we have to deal with this. And it makes a shortfall for our salaries and we have to cover salaries. And so, uh it's not that I don't think we have to do it. I do. It's just frustrating that we have to do it. That's all. All right. I'm
038going to call for a motion for approval of the resolution. Oh, sorry. Any board discussion on the TAN? >> Nope. >> We're good. All right. I'll call for a motion for approval of resolution 2026 TAN anticipation notes TAN series 2025. >> Mr. Rosario. >> Second. >> Dr. Jones. It's a roll call vote. >> Dr. Pasca Sepson. Miss Rosario. >> Yes. >> Dr. Jones. >> Yes. >> Mrs. Baronborg. >> Yes. >> Mr. Dyer. >> Yes. >> Okay. The P the motion passes 40. And now we have our closing. Mr. Green, would you like to say anything and thank your team, which we absolutely appreciate and I know you appreciate. >> I would and uh possibly I mean, if you just barely glanced over where I normally sit, you might see that the Whitehead is sitting where
039it truly belongs this evening and is that is uh with our director of finance, Kim Kman, and her staff sitting >> Please put it on, Kim. >> Staff sitting behind her. Um >> there you go. Yeah, I knew she'd wear it, too. Um, now I'll be distracted the whole time with her wearing it. Um, I really really am living this for as long as I have, but this being the second round, um, you you truly don't know what it is until you are Labor Day, until your Sunday, until your Saturday, until your midnight, until one team gets done so the next fund can get done so the next person could get done. Um, they are truly a team. If you go in anytime, you'll see them having breakfast or lunch or birthday celebrations together. And
040that family atmosphere, I think, is what helps them and all of us get through the stressful time. So, for them, it's a a little bit of a sigh of relief, but we still have more on the annual financial report to finish, and we have a lot to submit. But, um, I just, uh, truly truly appreciate everyone sitting there and the entire team who couldn't make it for all of their work and, uh, I appreciate board for your support. Thank you. >> Thank you. Thank you, Miss Copman. We appreciate all you do and welcome to Mr. Castwell. Um, and thank you to the entire team. Uh, can't say it enough. I know how hard you work and I know the hours you've been putting in, especially with these deadlines. Um, I can't apologize on behalf of
041the state, but I'm going to I apologize. All right. And in closing, like to adjourn this meeting at 5:36.