Hillsborough County Public Schools, Florida
Tuesday, 07/07/2020
School Board Meeting
Title

C6.05 - Approve the Advertisement Framework for the 2020/2021 Fiscal Year Proposed Millage Rates, Tentative Budget, Notice of Budget Hearing/Proposed Tax Increase, and Notice of Tax for School Capital Outlay; and Allow Staff to Make Modifications as Updated Information is Received from Tallahassee (Finance Division)

Description

Per Section 200.065 Florida Statutes, the Superintendent is required to submit a tentative budget to the Board within 24 days of certification of taxable value per Florida Department of Revenue Truth in Millage (TRIM) timetable. 

The TRIM process informs taxpayers and the public about the legislative process which determines local ad valorem (property) taxes. Florida State laws provide for public input and for governing bodies of taxing authorities to state specific reasons for proposed changes in taxes and the budget. 

The current attachments utilize the Florida Education Finance Program Fiscal Year 2020/2021 tentative Final Conference Report, March 15, 2020.

Gap Analysis

School Districts follow guidelines for the TRIM compliance provided by the Florida Department of Revenue Property Tax Oversight and Florida Administrative Code. 

Previous Outcomes

The Board approved the previous fiscal years Advertisement Framework. 

Expected Outcomes

Upon approval, the Financial Services team will prepare and continue to update the annual estimated budget for fiscal year 2020/2021. 

Strategic Plan Goal

* Establish a strong foundation of financial stewardship

Recommendation

Approve the Advertisement Framework for the 2020/2021 fiscal year. The Advertisement of Intent to adopt the tentative budget and millage rates will be Sunday, July 26, 2020. 

Contact

Susan Garcia, General Manager, Budget, Cash Management, and Federal Finance, susan.garcia@hcps.net, (813) 272-4064

Financial Impact

Review Comments

Gretchen Saunders , Chief Financial Officer (813) 272-4270