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Indian River schools kick off 2025–26 budget after $2.7 million reduction and 88‑FTE drop
Summary
District finance staff told the board the district faces a $2.7 million net funding reduction and an 88‑student full‑time equivalent (FTE) drop after recent state calculations; staff said a major driver was higher-than-expected family empowerment scholarship payments.
District finance staff on March 10 told the Indian River County School Board the district has begun the 2025–26 budget process three months earlier than last year and is working through a net funding reduction of about $2.7 million.
"So today we did kick off the 20 five‑twenty six budget development and approval process," Mr. Green said at the meeting. He explained the district received the state's third calculation on March 3, which adjusted funding based on October enrollment and course data and an additional February survey that affects the second half of the budget.
Mr. Green said the district is down roughly 88 FTE overall and identified the family empowerment scholarship as a key factor. The district had budgeted $14.8 million for Family Empowerment scholarship payments in its October projection; the calculation received in March shows Family Empowerment payments of $16.8 million, a roughly $2.0 million increase over the budgeted line item. The combined adjustments result in an overall net reduction of about $2.7 million to district funding.
Mr. Green outlined the FEFP (Florida Educational Finance Program) process and the timeline for further calculations: a fourth calculation is expected in May or early June and will more fully finalize next year's funding. He said staff will hold workshops over the next three months and align the budget with the district strategic plan; formal public hearings and millage-rate notices will follow over the summer before final budget adoption next September.
District staff listed typical budget pressures as salary increases, health insurance cost changes and enrollment movement. No formal vote was required at the March 10 meeting; the presentation served as the public kickoff for budget planning.
The board and staff said they will return to the board with detailed options to balance the budget as updated calculations arrive.
