FLORIDA DEPARTMENT OF EDUCATION
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    STATE BOARD OF EDUCATION
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    JIM HORNE
    Commissioner of Education
    F. PHILIP HANDY,
    Chairman
    T. WILLARD FAIR,
    Vice Chairman
    M
    embers
    LINDA J. EADS, ED.D.
    CHARLES PATRICK GARCÍA
    JULIA L. JOHNSON
    WILLIAM L. P
    COEFO Memo 04-34
    May 12, 2004
    Page 2
    3.
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    FEFP Base Funding decreased by $3,773,199 from $10,209,296,394 to $10,205,523,195 as a
    result of the funded weighted FTE decrease.
    4.
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    Declining Enrollment increased $279,016 from $5,104,926 to $5,383,942.
    5.
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    The Minimum Guarantee, which guarantees a 1.00% increase in funds per weighted FTE for
    all districts, remained zero.
    6.
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    The Discretionary Contribution decreased $26,207 from $1,093,417 to $1,067,210.
    7.
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    The Discretionary Tax Equalization State Supplement remained the same.
    8.
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    Total Required Local Effort (RLE) decreased $2,580,969 from $5,200,961,790 to
    $5,198,380,821.
    9.
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    Total Prior Year Adjustments are $22,637,079.
    Individual district amounts may be
    significant due to inclusion of the net earned vs. paid as a result of the final 2002-03
    calculation.
    10. Primarily as a result of the $14.8 million reduction in the Principal School State Trust Fund
    and the increase in the prior year adjustments, it was necessary to prorate calculated funds
    down to the level of the 2003-04 Legislative Appropriation. The impact of this proration was
    reduced by the $38 million increase in FEFP funding provided by SB 22-E.
    11. The amount withheld for the Opportunity Scholarship Program is $2,485,258 and for the
    John M. McKay Scholarship Program is $83,764,947.
    Distribution of FEFP Funds as a result of the revised allocations will begin with the
    May 10, 2004, electronic funds transfer.
    RM:dgm
    Attachment
    cc:
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    Finance Officers
    FTE Administrators

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