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Sarasota News Leader January 24, 2014 Page 18 Many other districts have "very low reserves," White thanked Goodwin and Todd for their Chairwoman Jane Goodwin agreed, and a remarks. "There are so many ways our staff number are struggling. makes sacrifices, trying to prioritize what the greatest needs are." White added, "What we According to the projections Weidner presented to the board on Jan. 22, the total would all love to see go away are those treestimated revenue for the 2014-15 fiscal year mendous budget cuts at the end of the year," is $393,972,940. The estimated appropriations which have been necessitated by funding are $393,019,966. Adding in the estimated rev- shortfalls. enue left unspent in the current fiscal year, the During his presentation, Weidner noted the district would have a surplus of $47,961,180 following assumptions in his preparation of on June 30, 2015. the projected budget: The total of the district's reserve fund is pro• A 5 percent increase in property valuations jected to be $37,717,131 as of June 30, 2015, in Sarasota County. However, Weidner or 9.6 percent of the budget. added, "I'm really anticipating a little bit Mitsi Corcoran, the district's chief financial more than that." Values went up 4.22 perofficer, pointed out to The Sarasota News cent for the current fiscal year. Leader last year that School Board policy 7.101 provides for a minimum unassigned • Expected renewal of the district's special 1 mill tax. The referendum will be held for fund balance of 7.5 percent. That is more the fourth time on March 25. The tax would fiscally conservative than the state required bring in about $42 million, district leaders minimum of 3 percent, as set out in Florida have said. Statute 1011.051. The statutes also provide that if a school district's reserve falls to 2 per• An enrollment decrease of 80 students, cent or below, that district is considered to be which would mean the loss of three in a state of financial emergency, she added. teachers. Board member Carol Todd said on Wednesday, • Continuation of the hiring freeze that has "Every year … we have a higher percent in been in effect since the recession necessiour reserve than we had anticipated. We do tated that action about six years ago. very well." Goodwin credited Superintendent Lori White • A 10-percent increase in district healthcare costs, effective Jan. 1, 2015. and the staff. Todd concurred, noting that when White has to recommend cuts, the board members "have heated discussions sometimes," but "our staff [members] know how to save. They know how to squeeze these dollars, and I think we need to compliment everyone in this district." • A 4-percent rise in the expense for other employee benefits, effective Jan. 1, 2015. • A 5-percent uptick in fuel and energy costs. Weidner noted that this is his 32nd year of working on district budgets. %