CONTACT PERSON
    NAME:
    ?
    David Montford
    Linda Champion
    PHONE:
    (850) 488-5142
    May 9, 2003
    SUNCOM:
    278-5142
    CFO:
    03-54
    MEMORANDUM
    TO:
    District School Superintendents
    FROM:
    Wayne V. Pierson
    SUBJECT:
    2002-03 Florida Education Finance Program Fourth Calculation
    Attached is the fourth calculation of the 2002-03 Florida Education Finance Program. This calculation
    incorporates 2002-03 FTE and Supplemental information prepared from the summation of July,
    October, and February survey data and the estimate for June.
    The 2002
    ad valorem tax roll certified by the Department of Revenue on April 2, 2003, was used in the calculation
    of required and discretionary local effort.
    In comparing the fourth calculation with the third 2002-03 calculation, the following summary-level
    changes are noted:
    1.
    Unweighted FTE increased by 4,024.10 from 2,493,290.06 to 2,497,314.16.
    2.
    ?
    Funded weighted FTE increased by 5,466.77 from 2,733,173.52 to 2,738,640.29. The Group
    2 over-cap weighted FTE is 723.21; the under-cap total is 26,482.04.
    3.
    ?
    FEFP Base funding increased by $19,262,662 from $9,672,842,861 to $9,692,105,523. This
    increase is a result of the funded weighted FTE increase.
    4.
    Declining Enrollment increased $737,942 from $3,936,992 to $4,674,934.
    5.
    The Lab School Discretionary Contribution increased $4,515 from $551,670 to $556,185.
    CFO 03-54
    May 9, 2003
    Page 2
    6.
    The Discretionary Tax Equalization State Supplement remained the same.
    7.
    ?
    Total Required Local Effort (RLE) decreased $3,421,223 from $4,808,925,003 to
    $4,805,503,780.
    8.
    ?
    Total Prior Year Adjustments are a negative $3,493,579. Individual district amounts may be
    significant due to inclusion of the net earned vs. paid as a result of the final 2001-02 calculation.
    9.
    The Net State FEFP increased $21,327,161 from $6,578,264,480 to $6,599,591,641.
    10.
    The amount withheld for scholarship programs is $57,610,348.
    Distribution of FEFP Funds as a result of the revised allocations will begin with the May 9, 2003,
    electronic funds transfer.
    WVP:DGM:bb
    Attachment

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