Introduction Aiken County Public School District Board of Trustees January 24, 2012

introduction

Aiken County Public School District

Board of TrusteesJanuary 24, 2012

• SCSBA, SCASA, SCASBO, Harry Miley, Childs & Halligan

₋ began work August 2010₋ dozens of presentations₋ draft bill; sponsorship

the team

• H.3716, S.433 (both reside in Senate)• focuses on state funding and distribution

– roll up of funding categories– new (EOC) weightings– reset teacher salary schedule– performance-based teacher pay– deregulation and flexibility

the landscape

• stable, sound revenue source to better manage budgetary dips due to the economy

• level “playing field” to aid business/industry recruitment and encourage economic growth

• simplify hugely complicated system• current system – state and local – broken• truly comprehensive – a package plan

the strengths

how it would work statewide…

the plan

$1,304,395,224 100 mills statewide the plan

$ 104,292,403 FILOT$ 1,944,756,227 state rollup $ 939,530,057 tiers 1,2,3 $ 47,443,880 other reimbursements$ 3,036,022,567 subtotal

reduces about 70 separate state funding sources to 12

$ 1,304,395,224the plan

$559,983,377additional state dollars needed to balance or make up the difference between what current millage rates generate statewide and what the SUM would generate

$ 1,304,395,224

$ 3,036,022,567

the plan

$ 1,304,395,224

$ 3,036,022,567

$ 559,983,377

$4,900,401,168 ÷ 920,624 EOC WPU= $5,323

the plan

$328,012,118 additional state funding to ensure no district gets less funds than what it currently receives

+

$ 559,983,377 balancing funds

$ 837,538,898 total additional state funds needed to …

grant $573,153,803 in tax relief to business/industry statewide

the plan

all other funds for programs not distributed to districts on per pupil basis such as:

»transportation related»national board certification»palmetto priority schools»retiree insurance»4K programs

the plan

local school board authority to levy millage of up to 8% of the assessed value of taxable properties

the plan

local school boards wanting to go above the 8% limit required to get voter approval. If approved, taxes would apply to ALL properties

the plan

• sets a reasonable per pupil funding level• significantly increases per pupil funding for

55 of our 84 districts• simplifies funding formulas by reducing

funding streams from 70 to 12• 100-mill SUM for operations gives level

playing field for economic development

benefits

conclusion

Aiken School DistrictSummary

Actual FY 2009-10 Funding $ 146,578,287EOC WPU 31,270Est. Funding Based on BSF $5323 $166,445,816Additional Funds $ 19,867,529

(Phase-in over 3 years)Tax Savings (138 to 100 mills) $ 11,794,615

(est.)