School Board Meeting and Public Hearing - Tentative 26-27 Millages and Budget

Page 1 Minutes July 28, 2025 Special Meeting and Public Hearing - 5:30 PM Manatee County School District 215 Manatee Avenue West Bradenton, FL 34205 www.manateeschools.net Times Indicated Are Approximate Attendee Name Status Dr. Laurie Breslin, Superintendent Rachel Sellers, Deputy Superintendent of Business Services Willie Clark, Deputy Superintendent of Operations Derek Jensen, Deputy Superintendent of Instructional Services Cindy Spray, Chair Richard Tatem, Vice-Chair Heather Felton, Board Member Charles Kennedy, Board Member Chad Choate, Board Member Stephen Dye, Board Attorney Present 1) CALL TO ORDER Chair Spray called the Meeting to order at 5:30 PM. 2) DISTRICT VISION The District Vision was ready by Chair Spray. 3) PLEDGE OF ALLEGIANCE The Pledge of Allegiance was led by Vice-Chair Tatem. 4) APPROVAL OF THE AGENDA 4.1 Motion to Approve the Agenda RESULT: Adopted [UNANIMOUS] MOVER: Chad Choate SECONDER: Charles Kennedy AYES: Chad Choate, Cindy Spray, Heather Felton, Charles Kennedy, Richard Tatem 5) PUBLIC HEARING / NEW BUSINESS Chair Spray closed the Regular Meeting and opened the Public Hearing at 5:35 PM for the Board to hear presentation and comments regarding the 2026-2027 tentative millage rates and tentative budget and answer questions related thereto.

Page 2 5.1 Public Hearing Regarding the 2026-2027 Tentative Millage Rates and Tentative Budget Mrs. Rachel Sellers, Deputy Superintendent of Business Operations, provided the Board the following presentation: 2026-2027 Tentative Budget Hearing • Statutory Requirements and Timelines • Proposed Tentative Millage • Rolled-Back Rate • Proposed Tentative Budget • Adoption of Tentative Millage Rate • Adoption of Tentative Budget The Board asked questions and held discussion throughout the presentation. Seeing no comment from the public, Chair Spray closed the Public Hearing and reconvened the Regular Meeting of the School Board at 6:01 PM. 5.2 Approval of the 2026-2027 Tentative Millage Rates 5.2a. Motion to Approve Required Local Effort millage for fiscal year 2026-27 of 3.027 mills RESULT: Adopted [UNANIMOUS] MOVER: Chad Choate SECONDER: Heather Felton AYES: Chad Choate, Cindy Spray, Heather Felton, Charles Kennedy, Richard Tatem 5.2b Motion to Approve the Discretionary Operating millage for the fiscal year 2026-2027 of 0.748 mills RESULT: Adopted [UNANIMOUS] MOVER: Heather Felton SECONDER: Charles Kennedy AYES: Chad Choate, Cindy Spray, Heather Felton, Charles Kennedy, Richard Tatem 5.2c Motion to approve Additional Operating (Voted Levy) millage for the fiscal year 2026-27 of 1.0 mill. RESULT: Adopted [UNANIMOUS] MOVER: Charles Kennedy SECONDER: Heather Felton AYES: Chad Choate, Cindy Spray, Heather Felton, Charles Kennedy, Richard Tatem 5.2d Motion to approve Local Capital Outlay millage for the fiscal year 2026-27 of 1.5 mills. RESULT: Adopted [UNANIMOUS] MOVER: Chad Choate SECONDER: Charles Kennedy AYES: Chad Choate, Cindy Spray, Heather Felton, Charles Kennedy, Richard Tatem 5.2e Motion to approve Resolution 2026-001 adopting the fiscal year 2026-27 total millage of 6.275 mills. RESULT: Adopted [UNANIMOUS] MOVER: Charles Kennedy SECONDER: Chad Choate

Page 3 AYES: Chad Choate, Cindy Spray, Heather Felton, Charles Kennedy, Richard Tatem 5.3 Motion to approve Resolution 2025-004 adopting the fiscal year 2025-2026 Tentative Budget in the Amount of $1,671,372,839.00 RESULT: Adopted [UNANIMOUS] MOVER: Heather Felton SECONDER: Richard Tatem AYES: Chad Choate, Cindy Spray, Heather Felton, Charles Kennedy, Richard Tatem 6) ADJOURNMENT Minutes: There being no further business to come before the Board, Chair Spray adjourned the meeting at 6:08 PM. ______________________________ Cindy Spray Chairman NOTICE Any person who desires to appeal any decision made by the School Board with respect to any matter considered at the above-mentioned meeting will need a record of the proceedings, and for such purpose may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which an appeal may be based. School Board meetings are held in accessible locations. Auxiliary aids will be provided, upon written request received at least 48 hours prior to the meeting, to participants with disabilities.

1. CALL TO ORDER

2. DISTRICT VISION

3. PLEDGE OF ALLEGIANCE

4. APPROVAL OF THE AGENDA

1. Approval of the Agenda Amendments - added after publishing

5. PUBLIC HEARING / NEW BUSINESS

1. Public Hearing Regarding the 2026-2027 Tentative Millage Rates and Tentative Budget

- format update 7/27/26

2. Approval of the 2026-2027 Tentative Millage Rates

3. Approval of the 2026-2027 Tentative Budget

6. ADJOURNMENT

Agenda

July 28, 2026

School Board of Manatee County

Regular Board Meeting and Public Hearing - 5:30 PM

Walter Miller School Support Center

Board Room

Times Indicated are Approximate

1

1. CALL TO ORDER 2. DISTRICT VISION 3. PLEDGE OF ALLEGIANCE 4. APPROVAL OF THE AGENDA 1. Approval of the Agenda Amendments - added after publishing 5. PUBLIC HEARING / NEW BUSINESS 1. Public Hearing Regarding the 2026-2027 Tentative Millage Rates and Tentative Budget - format update 7/27/26 2. Approval of the 2026-2027 Tentative Millage Rates 3. Approval of the 2026-2027 Tentative Budget 6. ADJOURNMENT Agenda July 28, 2026 School Board of Manatee County Regular Board Meeting and Public Hearing - 5:30 PM Walter Miller School Support Center Board Room Times Indicated are Approximate 1

AGENDA ITEM NO. 4.1 School Board of Manatee County July 28, 2026 - Regular Board Meeting and Public Hearing Action Item Title Approval of the Agenda Amendments - added after publishing Executive Summary The Chair finds good cause to amend the agenda to include: Agenda amended Monday, July 27, 2026, to edit Presentation 2026-2027 Tentative Budget Hearing in Reports and Presentation item Public Hearing Regarding the 2026-2027 Tentave Millage Rates and Tentave Budget This item aligns with the District’s Strategic Plan Goal(s) which state(s): Ready To Grow | Goal 7 Promote our schools and District as remaining highly competitive and uniquely designed to produce top-notch graduates, great neighbors, and responsible citizens Recommendation . Financial Impact . Contact Submitting Department: School Board 2

AGENDA ITEM NO. 5.1 School Board of Manatee County July 28, 2026 - Regular Board Meeting and Public Hearing Title Public Hearing Regarding the 2026-2027 Tentative Millage Rates and Tentative Budget - format update 7/27/26 Executive Summary Public Hearing for the Board to hear public comments regarding the adoption of the 2026-2027 Tentative Millage Rate of 6.275 broken down as follows: Required Local Effort Including Prior Period Funding Adjustment - 3.027 Capital Outlay - 1.500 Discretionary Operating - 0.748 Additional Voted Millage - 1.000 and the adoption of the 2026-2027 Tentative Budget in the amount of $1,671,327,839, and answer questions related thereto. The 2026-2027 Tentative Budget Book is attached for review. Contact Submitting Department: Business Services Initiated By: Rachel Sellers, Deputy Superintendent of Business Services Attachments: Tentative Budget Book_2026-27 2026-07-28_Presentation_26-27_Tentative_Budget_Hearing_updated 7/27/26 3

Tentative Annual Budget 2026-2027 July 28, 2026 School District of Manatee County Dr. Laurie Breslin, Superintendent 4

Cindy Spray, Chair Richard Tatem, Vice Chair Heather Felton, Member Charlie Kennedy, Member Chad Choate III, Member Dr. Laurie Breslin, Superintendent The School District of Manatee County 215 Manatee Avenue West Bradenton, Florida 34205 941-708-8770 www.manateeschools.net 5

TABLE OF CONTENTS Transmittal Memorandum INTRODUCTION……………………………………………………………………………………………………..... 1 Executive Summary 2-4 Budget by Fund 5 Budget Summary-Fund Balance Calculation Schedule 6 Student Growth 7 Unweighted FTE 8 MILLAGE………………………………………………………………………………………………………………..... 9 Millage Overview 10 Millage Levy 11 Millage Rates 12 GENERAL FUND……………………………………………………………………………………………………..... 13 Budget Overview 14 Calculation of the 2026-2027 Florida Education Finance Program 15 Florida Education Finance Program Definitions/Terms 16 FEFP Calculation Schedule 17 General Fund 18-19 CAPITAL FUND……………………………………………………………………………………………………….... 20 Budget Overview 21 Capital Projects Fund 22 DEBT SERVICE FUND……………………………………………………………………………………………...... 23 Budget Overview 24 Debt Service Fund 25 6

SPECIAL REVENUE FUND—FOOD SERVICE……………………………………………………………..... 26 Budget Overview 27 Food Service Fund 28 SPECIAL REVENUE FUND—OTHER FEDERAL PROGRAMS………………………………………… 29 Budget Overview and Manatee County School District Federal Programs List 30-31 Other Federal Programs 32 INTERNAL SERVICE FUND…………………………………………………………………………………………. 33 Budget Overview 34 Health Insurance 35 Workers Compensation 36 TRUST AND AGENCY FUND………………………………………………………………………………………. 37 Budget Overview 38 Trust and Agency Fund 39 TRIM ADVERTISEMENT………………………………………………………………………………………….. 40 Budget Summary 41 Notice of Proposed Tax Increase 42 Notice of Tax for School Capital Outlay 43 7

SCHOOL BOARD Cindy Spray Chair Richard Tatem Vice Chair Heather Felton Charlie Kennedy Chad Choate III SUPERINTENDENT Dr. Laurie Breslin P.O. Box 9069 Bradenton, FL 34206-9069 215 Manatee Avenue West Bradenton, FL 34205 941.708.8770 www.manateeschools.net SCHOOL DISTRICT OF MANATEE COUNTY Mary Foreman Gina Messenger M E M O R A N D U M DATE: July 28, 2026 TO: Members of the School Board FROM: Dr. Laurie Breslin, Superintendent SUBJECT: 2026-2027 Tentative Budget The following pages disclose the School District of Manatee County’s Tentative Annual Budget for the 2026-2027 school year which is allocated among the following funds: Fund Name Budgeted Revenue, Transfers In and Beginning Fund Balance Budgeted Expenses and Transfers Out Budgeted Ending Fund Balance General Fund $745,347,287 $695,281,079 $51,123,208 Capital Fund $680,833,225 $622,789,117 $58,044,108 Special Revenue $74,390,953 $65,149,932 $9,241,021 Internal Service $87,305,310 $73,270,696 $14,034,614 Debt Service $79,406,947 $62,950,783 $16,456,164 Trust and Agency $2,987,117 $2,987,117 $0 Total $1,671,327,839 $1,522,428,724 $148,899,115 This budget is based on funding expected to be received from the State, based on 59,534 unweighted FTE for K-12 students and is included in the 2026-2027 FL DOE FEFP second calculation. On Tuesday, July 28, 2026, the Board will be recommended to approve tentative millage rates and tentative budget for Fiscal Year 2026-2027. If you have any questions or need additional information, please contact Rachel Sellers, Deputy Superintendent of Business Services, at 941-708-8770, ext. 41108. 8

INTRODUCTION1 9

EXECUTIVE SUMMARY The School District of Manatee County continues to demonstrate strong financial stewardship. The district anticipates ending FY 2025-2026 with a positive General Fund ending fund balance of $96,268,593, reflecting an assigned/unassigned ending fund balance of 10.71%. FY 2026-2027 General Fund ending fund balance is estimated at $51,123,208, reflecting an assigned/unassigned budgeted ending fund balance of 7.44%. The 2026-2027 Tentative Budget includes the re-appropriation of $32,204,170 in restricted and assigned carryforward program budgets. MAJOR INITIATIVES AND ACCOMPLISHMENTS Fiscal year 2025-2026 was an active and successful year for the School District of Manatee County. The District’s accomplishments include: WE ARE FINANCIALLY SOUND • The School District’s General Fund Balance can be leveraged to sustain growth in the District and support the Strategic Plan initiatives. • Global Financial Ratings firms – Fitch Ratings issued an upgrade to “AA-” ratings on the board’s COPs outstanding, the District’s Issuer Default Rating (IDR) to “AA “, outstanding sales tax revenue bonds to “AA “, and rating outlook for long-term IDR was stable. Standard and Poor Global Ratings affirmed its “A+” ratings on the board’s COPs, and rating outlook remained stable. Moody’s ratings affirmed A1 issuer rating and upgrade of rating outlook from stable to positive. WE ARE PAYING COMPETITIVE SALARIES • This past school year marked the tenth consecutive year the District provided pay increases to teachers and other employees. • Pay for a beginning teacher increased from $38,285 in 2015-2016 to $59,239 (including referendum supplement) in 2025-2026. WE ARE PREPARING FOR GROWTH • Lake Manatee K-8 Elementary campus opened August 11, 2025, and the K-8 Middle campus completion is scheduled for July 2026. The Lake Manatee K-8 Addition is under construction and scheduled for complete December 2026. • Barbara Harvey K-8 North River Ranch opened on August 11, 2025, and the Addition is scheduled for completion in July 2027. • Veterans Elementary and Rye Ranch Elementary are scheduled to open for the 2026-2027 school year. • Rangeland High School is under construction and scheduled to open for the 2027-2028 school year. • Moody Elementary School renovation is scheduled to be completed in July 2028. The project will2 10

include renovation of mechanical, electrical, and plumbing systems, kitchen equipment, and enhancement to campus security. • Tillman Elementary School renovation is scheduled to be completed in August 2028. The project will include all campus renovation and HVAC systems. • Bayshore High School renovation is scheduled to be completed in February 2029. The project will include renovation of mechanical, electrical, and plumbing systems; Career and Technical Education (CTE) addition and renovation. • Lakewood Ranch High School HVAC renovation is scheduled to be completed in December 2028. The project will include campus-wide replacement of existing HVAC systems. WE ARE IMPLEMENTING OUR STRATEGIC PLAN AND TECHNOLOGY PLAN • Successfully implementing the District’s READY 2026 Strategic Plan. • Board approved District Technology Plan October 28, 2025 - June 30, 2030. • Completed fiber infrastructure at two new elementary schools. • Electronically transferred 13,569 student records and online transcripts. • Generated over 41,000,000 total impressions across the Enterprise Print Center and School MFD devices. • Deployed 8,000+ student and staff computer devices. • Installed 941 digital interactive display panels in classrooms across 11 schools including professional development training. • Completed comprehensive audio system upgrades across 18 schools, enhancing coverage and clarity in ballfields, cafeterias, car rider dismissal areas, gymnasiums, and stadiums to improve communication, safety, and event experiences. • Implemented an enterprise-grade Network Access Control (NAC) solution to enforce identity- based access policies, enhance endpoint visibility, and strengthen the District's overall cybersecurity posture. WE ARE CONTINUING TO MAKE SAFETY AND SECURITY A PRIORITY • Annual Florida Safe Schools Assessment Tool (FSSAT) are performed by school officials and first responders to identify threats and vulnerabilities in all schools. • School Safety Guardians completed advanced training and are prepared to protect staff and students on our school campuses. • We prepared all schools and district buildings for a crisis utilizing an advanced crisis alert system in compliance with Alyssa’s Law. • We enhanced school safety with Weapons Detection Systems and a specially trained firearms detection canine. • Phase 5 of the security fencing projects are ongoing. WE ARE SUPPORTED BY OUR COMMUNITY • Manatee County voters renewed a 15-year, Half-Cent Sales Tax for District capital needs in3 11

November 2016. • Manatee County voters overwhelmingly renewed a 1-mill property tax in November 2024 by a margin of 84% to support additional instructional time, competitive teacher pay, STEAM programs, school athletic programs, enhanced safety, early literacy programs, and charter schools. FISCAL YEAR 2026-2027 BUDGET OBJECTIVES Full Time Equivalent (FTE) Student enrollment has increased 2,130 FTE from the FY 2025-2026 Fourth Calculation to the FY 2026-2027 Second Calculation. District leadership developed the FY 2026-2027 budget to prepare for potential higher enrollment, maintain financial stability, advance academic achievement, support loss of Federal grant funding, and provide staff satisfaction. The FY 2026-2027 Total Budget is $1,671,327,839 and is comprised of General fund, Capital fund, Debt Service fund, Special Revenue funds, Internal Service funds, and Trust and Agency funds. General fund FY 2026-2027 beginning fund balance, revenues, transfers in from all sources, and other funding sources are budgeted at $746,404,287 or an increase of 0.6% versus FY 2025-2026. This minor growth in FY 2026-2027 is partially a result of the increase in the base student allocation of $85.00 versus FY 2025-2026 Fourth Calculation. Also, the school taxable value growth for 2026 grew 6.1% versus 2025. Capital Projects fund FY 2026-2027 beginning fund balance, revenues, transfers in, and other funding sources is budgeted to be $680,833,225 down by 19.8% versus FY 2025-2026 due to no issuance of Certificates of Participation expected to be issued as in the prior fiscal year.4 12

General, $746,404,287 Capital Projects, $680,833,225 Debt Service, $79,406,947 Special Revenue - Other Federal Programs, $25,000,502 Special Revenue - Food Service, $49,390,451 Internal Service, $87,305,310 Trust and Agency, $2,987,117 SCHOOL BOARD OF MANATEE COUNTY 2026-2027 TENTATIVE BUDGET BY FUND TOTAL TENTATIVE BUDGET BY FUND - $1,671,327,8395 13

Beginning Fund Balance + + + + + = Total Revenues + + + + + = Transfers In and Other Funding Sources + + + + + = Total Revenues, Transfers In & Balances + + + + + = Total Budget $746,404,287 $74,390,953 $87,305,310 $2,987,117 $79,406,947 $680,833,225 $1,671,327,839 General Fund Special Revenue Fund Internal Service Fund Trust and Agency Fund Debt Service Fund Capital Projects Fund Total Transfers In/Non Revenue Sources $0 $95,677,132 General Fund Special Revenue Fund Internal Service Fund Trust and Agency Fund Debt Service Fund Capital Projects Fund $33,936,009 $1,200 $0 $0 $61,739,923 Capital Projects Fund Total Revenues $616,199,685 $64,582,208 $74,145,000 $773,039 $1,710,860 $238,808,754 $996,219,546 General Fund Special Revenue Fund Internal Service Fund Trust and Agency Fund Debt Service Fund BUDGET SUMMARY - 2026-2027 Tentative Budget Fund Balance Calculation Schedule $96,268,593 $9,807,545 $13,160,310 Trust and Agency Fund $2,214,078 General Fund Special Revenue Fund Internal Service Fund $15,956,164 Capital Projects Fund $442,024,471 Total Beginning Fund Balance $579,431,161 Debt Service Fund6 14

STUDENT GROWTH Fiscal Year Unweighted FTE Actual Growth Growth Rate 26/27 2nd Calc 59,534 2,130 3.71% 25/26 4th Calc 57,404 330 0.58% 24/25 Final Calc 57,074 2,444 4.47% 23/24 Final Calc 54,630 2,500 4.80% 22/23 Final Calc 52,130 1,450 2.86% 21/22 Final Calc 50,680 1,854 3.80% 20/21 Final Calc 48,826 -611 -1.24% 19/20 Final Calc 49,436 584 1.20% 18/19 Final Calc 48,853 398 0.82% 17/18 Final Calc 48,454 171 0.35% Note: 2nd Calc, 4th Calc, and Final Calc refer to the Florida Education Finance Program (FEFP) calculation period provided to the School District from the Department of Education.7 15

0 10,000 20,000 30,000 40,000 50,000 60,000 17/18 18/19 19/20 20/21 21/22 22/23 23/24 24/25 25/26 26/27 48,454 59,534 Unweighted FTE8 16

MILLAGE9 17

MILLAGE OVERVIEW Annually, property owners in Manatee County pay property taxes. Part of their property taxes is levied by the School Board to support the Manatee County School District. This year the proposed tentative levy is 6.275 and is composed of the following: Required Local Effort 3.010 Prior Period Millage Adjustment 0.017 Additional Voted Millage 1.000 4.027 Local Capital Improvement (Capital Outlay) 1.500 Discretionary Operating 0.748 Total Millage 6.275 The Required Local Effort Millage is an appropriated amount set by the Florida Department of Education. The School Board must levy this amount to receive 2026-2027 FLDOE Second Calculation state funding of $229,999,502. The Required Local Effort Millage (Prior Year Adjustment) is an appropriated amount set by the Florida Department of Education. This millage is levied if the prior period Unrealized Required Local Effort funds are greater than zero. The District is required to levy this amount. Additional Voted Approved Millage will continue to be levied for three years remaining including 2026- 2027. The Additional Voted Millage of 1 mill is used for school safety and security, increasing student achievement, through more instructional time and support, recruiting and retaining teachers and staff with competitive salaries, early literacy programs, maintaining and expanding career and technical education, STEM and visual performing arts programs, athletics, and public charter schools as required by law. Discretionary Operating Millage is used by the School Board to support the general operation of the District. Though this millage is optional, it is an integral part of the Operating Budget. Throughout the last several years, this millage has varied. From FY 1991-1992 until FY 2008-2009 the millage was set at 0.510 mill. For FY 2008-2009, the Legislature capped the millage at 0.498 mill. In FY 2009-2010, the legislature further reduced the Capital Outlay Millage by 0.25 and added it to the Discretionary Millage, totaling 0.748 mill. The Discretionary Millage remains at 0.748 mill. The Capital Improvement millage is an amount levied to support the construction, maintenance and equipping of schools. The millage uses and implementation are set by the School Board. Beginning FY 1994-1995, this millage was capped at 2.00 mill. For 2008-2009, the Legislature capped this millage at 1.750. The difference was used to help offset the increase in the Required Local Effort (RLE) to fund the FEFP formula. For FY 2009-2010, the millage was further reduced by 0.25 mills and moved to the Discretionary Millage. The Capital Improvement millage is now set at 1.500 mill.10 18

2025-2026 vs 2026-2027 2025-2026 vs 2026-2027 % Increase Increase / Increase / (Decrease) (Decrease) 3.173 3.051 3.056 3.027 48% (0.029) Additional Voted Millage 1.000 1.000 1.000 1.000 16% 0.000 0.748 0.748 0.748 0.748 12% 0.000 0.000 0.000 0.000 0.000 0% 0.000 0.000 0.000 0.000 0.000 0% 0.000 1.500 1.500 1.500 1.500 24% 0.000 6.421 6.299 6.304 6.275 100% (0.029) The proposed millage rate for 2026/2027 is -0.5% lower than the millage rate levied last year. The decrease is attributable to Required Local Effort (RLE) which is mandated by statute. The School Board must levy the RLE to receive state funding. -0.5% Debt Service Fund Capital Projects Fund Total Millage General Fund Local Required Effort (Inlcuding Prior Year Adjustment) Basic Discretionary Critical Needs Operating School Board of Manatee County Millage Levy Percentage of Millage Generated Revenue 2023-2024 2024-2025 2025-2026 2026-202711 19

Fiscal Year Required Local Effort Discretionary Voted Debt Service Capital Projects Total Non Exempt Tax Roll 2017 4.360 0.748 0.000 0 1.500 2.248 35,849,173,561$ 2018 4.083 0.748 1.000 0 1.500 7.331 38,766,742,392$ 2019 3.887 0.748 1.000 0 1.500 7.135 41,780,543,525$ 2020 3.724 0.748 1.000 0 1.500 6.972 44,398,287,814$ 2021 3.628 0.748 1.000 0 1.500 6.876 47,666,050,988$ 2022 3.274 0.748 1.000 0 1.500 6.522 59,935,768,812$ 2023 3.173 0.748 1.000 0 1.500 6.421 71,864,882,526$ 2024 3.051 0.748 1.000 0 1.500 6.299 78,167,220,289$ 2025 3.056 0.748 1.000 0 1.500 6.304 80,455,330,966$ 2026 3.027 0.748 1.000 0 1.500 6.275 85,356,226,369$ SCHOOL DISTRICT MILLAGE HISTORY MANATEE COUNTY, FLORIDA MILLAGE RATES12 20

GENERAL FUND13 21

GENERAL OPERATING FUND BUDGET OVERVIEW FY 2026-2027 The Manatee County School District’s General Fund or Operating Fund is typically the largest fund in the District’s budget. The General Operating Fund is used to pay the salaries and benefits of employees such as classroom teachers, school principals, school secretaries, and school custodians. The funds also are used to buy supplies such as classroom books, library books, classroom supplies, cleaning supplies, and transportation costs. In addition, these monies provide the expenses, such as the schools’ utility and communications bills. The General Fund is supported mainly through the Florida Education Finance Program (FEFP). The funding source for the FEFP comes from two primary sources, state sales tax and local millage. The local millage are the property taxes collected in Manatee County. The following pages disclose information on this year’s general fund budget.14 22

CALCULATION OF THE 2026-2027 FLORIDA EDUCATION FINANCE PROGRAM In 1973, the Florida Legislature enacted the Florida Education Finance Program (FEFP), which offers as its purpose: To guarantee to each student in the Florida public educational system the availability of programs and services appropriate to their educational needs which are substantially equal to those available to any similar student notwithstanding geographical differences and varying local economic factors. The FEFP provides a formula that substantially determines the amount of money that will be available to the School District of Manatee County within its General Fund for the 2026-2027 fiscal year. The formula considers the varying local non-exempt assessed valuations for property taxing purposes, the costs of varying educational programs, the varying costs of providing education services within the vast geographic area of the state and the costs of education within a given school district. The actual formula and the FEFP calculations can be found at http://www.fldoe.org/finance/fl-edu-finance-program-fefp/fl- edu-finance-program-fefp-calculatio.stml15 23

FLORIDA EDUCATION FINANCE PROGRAM DEFINITIONS/TERMS FLORIDA EDUCATION FINANCE PROGRAM (FEFP): The funding formula established by the Legislature in 1973 for funding public schools. FULL TIME EQUIVALENT STUDENT (FTE): A definition utilized in the state funding formula for identifying the student count for each district for the program offered. Often referred to as unweighted FTE, it is the student membership for the programs offered. PROGRAM COST FACTORS: Program cost factors serve to ensure that each program receives its equitable share of funds in relation to its relative cost per student. The cost factors help recognize the varying costs among programs based on a three-year average. WEIGHTED FTE: This is derived from multiplying the unweighted FTE by the program cost factors. BASE STUDENT ALLOCATION (BSA): This is set annually by the Legislature. This is the amount a full-time equivalent student (FTE) will generate in a program with a cost factor of 1. For 2026-2027, the BSA is $5,457.60. COMPARABLE WAGE FACTOR (CWF): This is used to adjust funding to reflect the differing costs of living in the various districts within the state. The CWF is based on the average of each district’s three most recent years of the Florida Price Level Index. For Manatee County, this figure for 2026-2027, is 1.0002. The 2026 legislative session allows school districts below a cost factor of 1 to use a cost factor of 1 when calculating the FEFP base funding. BASE FUNDING: This is derived from the following formula: (Unweighted FTE x program cost factors x BSA x CWF) SUPPLEMENTAL FUNDING: Additional funding with the formula allocated for a specific purpose, such as Student Transportation, Safe Schools, Educational Enrichment, ESE Guaranteed Allocation, Academic Accelerations Options and Mental Health Allocation.16 24

Unweighted FTE Students Program Weights Weighted FTE Students Base Student Allocation (BSA) Comparable Wage Factor (CWF) 2027 2nd Calc $59,533.92 x = $62,723.16 x $5,457.60 x 1.0002 = 2026 4th Calc $57,403.99 $60,615.02 $5,372.60 1.0000 Base Funding + Academic Acceleration Options + ESE Guaranteed Allocation + Department of Juvenile Justice (DJJ) + Mental Health Assistance + 2027 2nd Calc $342,386,382 $8,214,752 $26,878,325 $178,024 $3,474,729 2026 4th Calc $325,660,256 $8,214,752 $24,829,697 $181,843 $3,363,009 Safe Schools + Education Enrichment + Student Transportation + Proration to Appropriation + Educational Enrollment Stabilization Allocation = Gross State and Local Funding 2027 2nd Calc $5,471,210 $14,923,256 $10,163,658 $0 $0 $411,690,336 2026 4th Calc $5,360,278 $14,400,525 $10,076,952 $0 $0 $392,087,312 2026-27: 3.010 2025-26: 3.056 incl py adj + Adjustments = + + = 2027 2nd Calc $246,645,352 $0 $165,044,984 $52,054,243 $12,900,275 2026 4th Calc $234,569,127 -$2,784,843 $154,733,342 $50,988,145 $11,313,355 + + = - 2025-26 UFTE 5,389.75 = 2027 2nd Calc $229,999,502 $246,645,352 $61,292,599 $537,937,453 $56,722,348 $481,215,105 2026 4th Calc $217,034,842 $234,569,127 $57,773,364 $509,377,333 $48,653,750 $460,723,5

>> Coming up, your own masks amenities, schools, >> Good afternoon, everyone. Welcome to our. JULY 28, 2026 school board regular meeting an public hearing all the meeting to order at exactly Five-thirty. I will read the district vision for a protocol for meetings and that is the school district of Manatee County will be an exemplary student, focus assist who system that develop life-long learners to be globally competitive. Would like to invite Dr Francis up to our podium to do our invocation for the evening. If you could please stand. Let us pray. Gracious and loving GOD. >> We pause at the beginning of this meeting to acknowledge that all wisdom understanding and good judgment come for me. As we stand on the threshold of a new school year. We give thanks for the opportunity to serve the children, families and employees of this community. We asked your blessing. On every decision that will be made in the days ahead. Grant this poor discernment to govern with integrity, courage to make difficult choices with compassion and humility to place the needs of students. >> Above all else. >> We lift up our teachers as they prepare their classrooms, our principals and staff as they prepare their schools. Our bus drivers, custodians, food service workers every employee whose work makes learning possible. Strengthen them for the year ahead and remind them that their daily efforts shape lives in ways that cannot yet be seen. We pray, especially for our students. Calm the anxious child entering school for the first time. Encourage the teenager wondering where they belong and inspire every learner to discover the gifts you have placed within them. MAY our schools be places? We're curiosity is nurtured. Difference is respected in every child, treated with dignity and hope. Lets the children, the parents, the Guardian's the caregivers, those who interest themselves to us every day. Give them pace with snow and strong partnerships with those who educate their children. Finally, the high this bore tonight that our conversations be marked by respect our disagreements by civility, our decisions by a steadfast commitment to the well-being and success of every student. Made the work we do here, strengthen our schools, enrich our community, in honor of the sake of responsibility entrusted to us Jesus name. We pray. >> Hey, man and now for take them. >> Thankfully in the bag. The United States of America Republican for which stands nation under GOD, indivisible, with liberty and for all. >> And you maybe see you. Thank you for Okay. That takes us item. 4.1 approval of the agenda amendments that were made. Over the last a day or 2. It's a move. Have a motion for approval. The agenda by MISTER Cho for the second by MISTER Kennedy. And that will happen to Probably. Yeah, MADAM CHAIRMAN, I'm a yes vote a Canadians. Very kid. And passes 5, 0, Okay. As soon as we open the regular meeting, I will now close regular meeting. >> And now we will open the public hearing. And I will now recognize Deputy Superintendent Business services. Sellers. >> Well, good evening, chair and board members. The purpose for tonight's meeting is to adopt the tentative millage rates for next fiscal year 2026. 27 and to adopt the tentative budget along with some statutory discussions that include the rollback rate. All right. State statute requires a specific schedule for the hearing days times of days that we can hold these hearings. The district's advertisement ran Friday on JULY. 24 in the Sarasota Herald for the requirements to advertised state statute in these hearings were going require to discuss the a percentage increase in mileage over the rollback rate needed to fund the budget and reasons the ad valorem taxes increasing and then the governor bodies must adopt the mileage rates first and then the budgets and separately. So there's more notifications that the state does require us to discuss in this meeting, the Millet rate adopted at final budget and cannot be higher than the rates. That's our tentatively adopted today at this hearing. There is a tentative budget. But that given its attached on the board copies were given to each of you, too. >> I don't know if any of you guys have those here today, but it is into the book as well, too. And then again, we're going to do the mileage votes first and then we go off to and we actually separately discuss each vote. Each village noted. All right. And then the same process continues for the final and that budget is presented to the board on SEPTEMBER 8. The the again, the mileage rates will be voted on separately. And then the final budget and then after. SEPTEMBER's final budget is when the budget amendment cycle starts all over again for the the fiscal year. All right. So this the millage rate trend. This too. Show to the mileage. Is that go back to 2018, 19 for this coming fiscal year. The total mileage rate is 6 point 2, 7, 5, The required local effort is 3.0 1, 0, and the prior period adjustment is 0, 1, 7, This then is a total of 3.0, 2, 7, for the required local effort. And to know this is purple line and you will see how it has been. The rate has been decreasing every year so far. The district is required to while the district doesn't have to levy required local effort, it cannot participate in the Florida education finance program. Fefp unless they are. Assessing that right. And on this presentation as required upper has requested at the preliminary budget workshop. We have added the states student fte at the bottom and this fte includes from the state, the tradition districts, districts, students, the fcs, which is the family Empowerment Scholarship students. That's the voucher students. And then also charter schools and one. And you can see how ft has been increasing year after year. I have a question for MISTER Gioia. >> Yeah, just actually just quick comment. You said it as we've seen. You can see obviously the public that hopefully will look at this eventually. See that the millage rate has gone down. And so what we're at 6.3 last year. Now at 6.0, 2, 7, 5 and a lot of times, especially the county government when they lower their mileage 0.2, 5, whatever it MAY be and the paper things goodbye. Loves it right when the mileage rates go down. Well, ours is too. And although we didn't really do anything to do that, we were dictated on what they would Still. It's going down and just want to make sure that public was aware. >> I think you'll see also on this slide. It does also show in comparison, the increase in the property values in Manatee County. And this year. It's 85.4 billion. Last year we had 80 Billion. Town. >> I know we ask you to do this all the time. But just for the clarification for the folks that are watching are hopefully going to watch. If you could explain why it is that our property values are going up in our millage rate is going down so they can understand why they. Across that way. Because I don't think understand. >> Right. So so that the rates that the district assess or, you know, adopts to have assessed. We see that rate go down. But when you take that rate and you multiply it by the property value, which increased, you will see an increase. And we try to show that a little bit more a few of those slides to. But the reason why the property taxes, your property taxes have increased for the school district taxes is because of the increase in the property values. MR. Taylor. >> Good evening that so so the number 5,000 and 34 you mentioned that. That includes scholarships for the state scholarship program. How does that money come wasn't included in our number. Does that money come to us and and then the kind of take it back where they just say, well, you would have that money. That money would be within your district. But for scholarships that are being given or how does that. I'm just curious how that money flow. >> So so that report does provide some information about that. The voucher student fte numbers when the actual funds come from the state through the fefp program. It includes the amounts that get dispersed to the district and the charter school students. But voucher peace actually does not flow through the district. We don't. And up writing a check back to somebody somewhere in regards to that. Okay. So it's the county is an accounting in those reports there. They're reporting that's the count of those voucher students. And when they get that financial information, they're disclosing that that's related to all of the students of Manatee County. But when it actually comes for an actual revenue cash flow that comes into the district, we don't see it. >> But charter schools reduces, right, correct. That it passes through to the charter schools we keep a 5% ministry to on the visit. The first 200 these are something like, there's that. It's not it's not all the way through the rest of the year. It's based on I 250, is a number. Don't have that right off the bat. >> so it's a it's a graduated type scale that ends up getting apply to that. We can get. They had at feet off >> But all uk. All right. >> All right. So this slide covers the fact that we have some Department of Education and Department of Revenue forms that require the reporting of the district's revenue at 96% collection rate and in other spots they want to and 100% of that particular value. The dr for 20 s that, we end up sending up to the state. That one reports it at 100%. But that tax at the notice of tax for the school capital outlay and the ese 5.24, those are required to be reported at 96 collection rate. So we just put this out to the public because you could be looking at some of the different forms and wonder why is that interest? You know, why is that revenue at reported that way? And this is just to show why it's. Different forms. Want different numbers. >> MR. Tatum has another question. >> Okay. Curious, George. >> So I know when I look at my tax form that comes from the tax people in the county. And so say if you by the here's your total amount. That's $10,000. If you pay by the state, though you only pay 96% because they want their money earlier. So I that and they can take it. And the right make interest off it. Or if you so if you pay by like one DECEMBER, you pay $9,600.96 percent. But if you wait till the up 10,000 so I'm just curious what your you MAY even know this, but between these 2 numbers, what is it? Is the amount of money we get somewhere between the 96% and the 100% because some people wait and pay 100% at the end of the the time frame and some people pay right the bat as usually somewhere in between there. >> Yeah, those forms are talking about are the ones that go with a 96% rate. But there is always an adjustment that might end up happening throughout the year. The you have to report these at the beginning of the year that way. But even as the year goes through that projection could change like the year that we had the hurricanes go through in 2024, we actually saw less than what had been expected to come in because people were forgiven on some of their their taxes for that. You know, they do the reconciliations for what ends up coming to the district and hopefully that 96% that gets record reported at least on those forms, hits close to the mark. >> It's probably in the budget book somewhere. And maybe you've already briefed this number. >> But >> what do we? What do we use like when we're setting up our budget and say this is how much money we have coming from these taxes. Do we use the 5.14, number? We probably don't use the 5.35 Number because people pay their taxes early. So >> we used that 96 collection rate a yeah. Okay. But that's all it. Thank you. Right now, the rollback rate so that rollback rate is the millage rate. That would be generated. That would generate the same amount of revenue that was received last year if it was applied to the current tax roll. Now, remember that tax? Well as higher this year. So it's it's required to be disclose and shown here that. Rollback rate is 6 0, 9, 9, 8, So the difference what is being assessed, what was assessed last year side last year's taxable value and the rollback rate is 2.8, 7%. All right. So this is the same and information as the last slide. So Tatum up on are. Did you have a question news back up? >> There you go. Right there. >> just been curious where that I guess I'm excited about You know, >> don't want wish life and a that sliding >> So think it is important for Us to understand how this works and who knows. Maybe schoolwork candidates are watching help them understand there. Took me 3 years to figure this out. The brightest sharpest knife in the drawer. But anyway, so what this means is that in red there that 6.0, 0, 0, 9, it is. That would be the mileage. The total mileage rate that we were that we would assess if we were to want to bring in the same amount of revenue that we brought in year. Right? Okay. Great. And the 2.7, the 2.8, 7 I was trying to do my calculator. Real quick is probably 6.0, 0, 9, 8, over. 6.0, 2, 7, The difference between 6 point there and then 8 6.2, 7, 5, is 2.7% Yes. So the so the new millage rate. Of 6.2, 7, 5, is 2.8 7%. Lower than the than the I'm sorry is higher than that. What we have 6.0, 0, 9, 9, 8, if we were wanting to bring in the same amount of money that we did last year, correct. >> And I want us to talk about that. So thank you very much for having us go through that. There you go. Time to Sorry for pen. All right. That's all ahead think you. >> Okay, I'm watching for you. Mine. It. >> All right. All right. So this slide is this is the same concept as a last slide. >> We broke it down by each of the mileage rates at that are applied to the district. Your capital outlay. That's the lci your sorry. The lci which is local Capitol local improvement. The local revenue is that voted one mill, your discretionary local effort. That's the point. 7, 4, 8, And then the required local effort that we have for this year. 3.0, 0, 2, 7, but these are the rollback rates that you would in comparison. Okay. So this slide demonstrates to someone that that tax effect of the property values. If there was no increase in the assessed value compared to the rollback rate. I kind show this slide every year, but it kind of puts it in perspective, maybe to someone's money. Now the next 3 slides is mileage resolution. This is what's reported on the state yes, the 5.24 And this is form that gets. Which one signs this one superintendent scientists, one, and we will send it to the Florida Department of Education. All right. So in summary, see, that MAY do ok the taxable property value, as I've mentioned before or as 85.4 billion. This resolution shows each millage rate and the taxes to be levied. It's informative to the board and the community. You see the school, the district school tax of 3 point. 0 to 7. That's the non voted. The district's school tax discretionary. The 0.7, 4, 8, that's also non voted. And then one mill, which is the additional voted mileage. Started. I can't move the slide. Hopefully go. All Now, the local capital improvement is 1.5 That is also and non voted mileage for a total of 2 point. A home on 2 points. This is SEPTEMBER 5, 5, I think my notes are. Point to point. So it's the couple moments 20 nations. It's 2.8 7% of Adam rollback rate point. Sorry. 2.8, okay. All right. Anyone have questions with I have MISTER Tatum. I think okay. Yes. Please go to >> are 8. So they're 3rd line. It's those career total proposed millage rate. 6 point. 2, 7, 5, And if we go down to. That's spotted her 12. So just thank you for that because we're going move on, though. This is total required mileage. 3.0, 2, 7, That's that's the same numbers are right. As what we look is what we look back on. Slide number with. >> no. This discussion on the rollback rate on slide 8 doubt. We have a total of the as 6.0 2, 7, 5, the esc is not doesn't have a line that's showing that total. It's got each of the pieces that make up the 6.0, 2, 7, 5, >> Okay. On on slide number 12 is what you're saying. Yes, okay. Well, 12 13. I was just confused by the number 3. It's a total required mileage. 3 pointer to 7 and then. On the previous slide and slide it. It's required mileage of. 6.2, 7, 5, But that's okay. >> Yet the 6.2, 7, 5 is all of them added together to go right. >> Thank That's all take. So clarify Ron Page 14, correct? Page 14 slide. 14. >> Okay. So this is summary page of the entire. Budget of the revenue that is budgeted to be used for the coming up fiscal year. This is, I believe, summarized in your budget book on Page when you add and have a conversation about your budget, what you're working, what your budget is to be working with you actually at the first column, which is your new revenue for the fiscal year. Plus, you're beginning fund balance into the fiscal year and then you add the transfers in column, which is the second column that gives Total of revenue that we are working with for the fiscal year 26. 27 to 1.0, 6, 7 Billion. Now notice it is split out by fund a big focus of what we bring to the board and discuss. We see a lot of is the General Fund and the Capital Fund. The General Fund is the one where when we I bring the budget to the board about the operating funds and we look at the General Fund Reserve and we stay within the board policy. The school fund balance policy to make sure we stay try our best to stay between the strategic and contingency percentage as set by the board. This year. We see the general fund making 35% of the budget, the Capital this year is larger than that general fund at 38% of the 3rd runner-up is the internal services at 10%. And the internal service fun holds or contains the health insurance fund and the Workers Compensation Fund. And special revenue as a reminder is where the grants are reported and then the debt service is where we what we used to record report the principal and interest payments on the district's debt. And then in the budget. But you'll also notice this discussion is broken out by the funds and the projection with this tentative budget expects to finish the fiscal year and JUNE 30 2027 with an ending fund balance of 51.1 million. Okay. And our last of evening is a comparison of. The changes that this tentative budget is showing from. When we brought to you, the preliminary general fund budget in the workshop at the end of JUNE. A big part but occurred in the payments or expenditures and revenues that were recorded in tentative budget is a result the Wiese. Second cow that was received by the district for the 26 27 fiscal year. We actually received it a week and a half ago. So we had hurry up before we could Bring to the board for approval. That ad that ran last Tuesday to get some of changes in saw highlight the budget from the pre preliminary workshop tend to this tentative budget. The expenditures decreased 3.7 million. And we saw a decrease in the revenue of 13 Million. And 13 million is essentially at a major part is due to the change in the states net funding to the district. Also some some of the other material changes related to assignment of programs also related to the estimated carryforward assignment programs. We had some charter school student fte adjustments. We had some the ese behavioral specialist had some grant salaries into the general fund. And then we some reductions to their liability insurance premiums and also some reductions related to transportation allocations kick. As This is slightly cricket of the topic. But said the fdle. >> the oea second count changes were released. Why are we getting second count changes when we're about to start the new school year. >> This it typically does >> After the conference report was timing any earlier than usual? No, it's pretty much they have to statute, provide the required local effort. And second count by JULY 19, ok? And that's when we got it day early. Yeah, but action was to the 19. We got Friday instead of on Sunday. That's nice. >> Pardon my flights are for a second floor and kind of slipped out so this is the if I'm understanding this correctly, it says that this is the 26 27 0nd count. >> Right. The first one is the conference report that came MAY. All right. So the conference report could be a first count. >> Okay. It always throws me off. And we say this is the second count the school year hasn't started yet. I'm used to the count being you like, you know, OCTOBER when we're counting kids that are in seat. So that's always throws me off. Yes. So okay. I just knew that cleared by. Thank you. >> guys. That's what I have for the presentation. For this evening. >> Thank All right. And now I will ask there are any members of the public that would like come forward before I close. The public hearing portion of Army. MADAM I'm so sorry, MR. Tatum, go ahead. >> As one of think you're in their stuff from the 4 years that I've been on the board of been through this 4 times and I'm never going to bed at night wondering about the finances of the district ultimately the superintendent herself make decisions about spend the money. But I know there was a lot of turmoil during. The covid years, so to speak. Those lot of extra money coming That was a lot of extra money going out. Other districts have difficult in that area, you know, trying to what we like call land that plane as we come out of the covid during this tough really done a good job and always felt like you're competent. You know you're doing and you have answers to my questions. So I guess and the 4 years I've been here, I don't go to bed at night wondering whether we're going to I'm going to wake up one morning you're going to tell me where in the redder we're going to go bankrupt, that we have to turn off the air conditioning, all the schools or something like that. So just congratulations. There's that. Thank you. Thank you. Thank Welcome. That's all I >> Any other board members? No public comment. So. I will close the public And now I will open the regular me. >> And we are on item number. Approval of tentative mileage. Right? So said a 2.1 We're going to 2 Superintendent. Looking from okay, I'm sorry. Looking for a motion our ally. >> Some of which is if you look on your page 9 of your. >> Presentation. The last column overs for we're going to start on the agenda. I have a motion to approve rally at 3 to 700. I will second. And I have a second. I And we will wait on app to pull up far. >> Voting >> We are CHAIRMAN. Is we're still off, ok, MR. Kennedy is Thank you for that board that done. We are be approval of the Dist discretionary operating millage. For fiscal year 26. 27.7, 4, 8, I will move through that second. We have a motion by MISS Walton with a second. I MISTER Kennedy. I don't see anyone let up. I think we've all been through. Program here. MADAM Chair, as you want me to recommendations related to these. >> Sure missions. I recommend that the board approved the discretion operating millage for the fiscal year 2026. 2027. >> 0.7, 4, else. We have motion and the second. My notes are and loose on sorry, Superintendent. I did not no worries MR. That passes 5, 0, Now we're on to. To Point c superintendent. I recommend that the board approve the additional operating voted. Levy mileage for the fiscal year 2026. 2027 1.0 Mel. A motion by MISTER Kennedy, a second by MISS Felton. I don't see board members led up to speak. So will move on to the vote. And that passes 5, 2, 0, Item, 2 Point b. I recommend that the board approved the local capital outlay millage for the fiscal year 2026. 2027 of else. A motion by MISTER Cho with a second by MISTER Kennedy. I see no board members led up to comment. And that vote will pass Sorry. That's alright. I'm a yes. 5 to 0. 2 Point superintendent. I recommend that the board approve the resolution. Number 2026 Dash, 0, 0, 1, adopting the fiscal year 2026. 2027 total mileage 6 point 2, 7, else. Some of it. I ha