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District financial update: third FTE calculation reduces funding; district maintains required fund balance
Summary
Chief financial staff reported a net decline in district FTE that reduced state funding and required the use of a previously set-aside "over projection" project balance; district fund balance (FCR) remains above board policy minimum at about 5.27%.
Santa Rosa County School District financial staff presented the March third-count funding update and related budget effects to the school board on March 11.
The district reported an overall decrease from the second count to the third count of about 533 unweighted FTE after accounting for charter and scholarship program shifts; the district portion of FTE declined by about 822. Staff said the Family Empowerment scholarship increase accounted for much of the change and that the district must return…
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