Special Board Meeting

agenda: THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Landings Administrative Complex 1980 Landings Blvd. Tuesday, September 1, 2026 Special Budget Board Meeting 10:00 AM

A. Call to Order

B. Discussion

1. APPROVAL OF THE FINAL BUDGET AMENDMENT FOR FISCAL YEAR ENDING JUNE 30, 2026Linked attachment: APPROVAL OF THE FINAL BUDGET AMENDMENT FOR FISCAL YEAR ENDING JUNE 30, 2026 Official source: https://sarasotacountyschools.community.diligentoneplatform.com/document/06f197d2-d7ee-4e1a-84d9-07ea49eff5e8 Title APPROVAL OF THE FINAL BUDGET AMENDMENT FOR FISCAL YEAR ENDING JUNE 30, 2026

Recommendation That the Sarasota County School Board approve the Final Budget Amendment for Fiscal Year ending June 30, 2026.

2025-26 Final Budget Amendment summary.pdfLinked attachment: 2025-26 Final Budget Amendment summary.pdf Official source: https://sarasotacountyschools.community.diligentoneplatform.com/document/0e3ebbc5-bdfc-4f5c-bb50-3eb9c0320eaa The Budget Amendments detail the changes from the adopted budget for the 2025-26 fiscal year. The budget amendments are based upon the actual results through June 30, 2026. Below are the highlights of the amendments by fund. General Fund Final Budget Amendment General Fund revenues are being adjusted upward from the adopted budget to reflect final state and local revenue collections and other year-end activity. A significant improvement occurred within the Florida Education Finance Program (FEFP). The Fourth FEFP Calculation projected an approximately $2.5M reduction in funding; however, the District’s final FEFP position resulted in approximately $1.7M of additional funding, representing a favorable swing of approximately $4.2M from the Fourth Calculation projection. In addition, the District received approximately $638K through the Declining Enrollment Supplement that had not been anticipated in the adopted budget. Florida School Recognition funding of approximately $2.4M awarded after adoption also contributed to the increase in state revenues. Local revenues were strengthened by approximately $3.1M in ad valorem collections above budget, higher-than-anticipated course fee remittances from Suncoast Technical College, and approximately $1.6M in FPL rebates recorded within miscellaneous local revenues. These favorable revenue adjustments were partially offset by a significant reduction in the transfer from the Capital Fund, which was adjusted to reflect actual year-end funding requirements. The General Fund nevertheless continues to rely on capital funding to support a portion of bus driver salaries and benefits, reducing the amount of those costs that must be supported by recurring General Fund revenues. Overall, the combination of stronger state and local revenues resulted in a more favorable year-end revenue position than anticipated at adoption. General Fund appropriations were also realigned as part of the final amendment to reflect actual operating requirements and year-end expenditure trends. In total, final appropriations are slightly below the adopted budget. Adjustments among expenditure categories reflect actual staffing and vacancy experience, employee benefit costs, purchased services, utilities and energy costs, instructional materials and supplies, capital outlay, supplemental payroll activity, and other operational expenditures. Charter school payments remained generally consistent with amounts anticipated in the adopted budget. Overall, these changes primarily represent a realignment of appropriations based on actual spending patterns rather than a significant expansion of General Fund spending. Actual expenditures finished below the final amended appropriation, reflecting continued expenditure management and normal year-end budgetary savings across a number of operating categories. When considered together with the favorable FEFP outcome, the Declining Enrollment Supplement, Florida School Recognition funding, stronger ad valorem collections, higher course fee revenues, and the FPL rebates, the District ended the year in a stronger financial position than was anticipated during the later FEFP calculations and interim budget projections.

The final amendment also supports the District’s fund balance and reserve objectives. The financial condition ratio, which measures assigned and unassigned General Fund balance as a percentage of revenues before transfers, is estimated at 9.87% in the final budget compared to 9.02% at adoption. This remains above both the statutory 3% requirement and the Board-established 7.5% minimum and reflects the District’s stronger year-end revenue position and continued expenditure management. Debt Service Fund Budget Amendment The Debt Fund Budget Amendment Increases the amount of revenue received for Interest income and Capital transfer for updated amortization schedules and dues and fees. Debt fund Certificate of Participation 2016A retired in Fiscal year 24-25. Final closeout resulted in realizing proceeds in Debt Fund and equal transfer back to Capital Fund in this Fi

That the Sarasota County School Board approve the Final Budget Amendment for Fiscal Year ending June 30, 2026.

2. APPROVAL OF THE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDING JUNE 30, 2026Linked attachment: APPROVAL OF THE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDING JUNE 30, 2026 Official source: https://sarasotacountyschools.community.diligentoneplatform.com/document/e48345d4-9559-4ff9-806d-eaa5caa98e80 Title APPROVAL OF THE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDING JUNE 30, 2026

Recommendation That the Sarasota County School Board approve the Annual Financial Report for the fiscal year ending June 30, 2026.

FY 2025-2026_Annual Financial Report_08 31 2026.pdfLinked attachment: FY 2025-2026_Annual Financial Report_08 31 2026.pdf Official source: https://sarasotacountyschools.community.diligentoneplatform.com/document/951e71df-efb4-4b7b-b5ba-b1c501a5f21b DISTRICT SCHOOL BOARD OF SARASOTA COUNTY STATEMENT OF REVENUES, EXPENDITURES AND Exhibit K-1 CHANGES IN FUND BALANCE - GENERAL FUND FDOE Page 1 For the Fiscal Year Ended June 30, 2026 Fund 100 REVENUES Account Number Federal Direct: Federal Impact, Current Operations 3121 Reserve Officers Training Corps (ROTC) 3191 403,921.00 Miscellaneous Federal Direct 3199 Total Federal Direct 3100 403,921.00 Federal Through State and Local: Medicaid 3202 1,008,739.00 National Forest Funds 3255 Federal Through Local 3280 Miscellaneous Federal Through State 3299 330,211.00 Total Federal Through State and Local 3200 1,338,950.00 State: Florida Education Finance Program (FEFP) 3310 2,334,882.00 Workforce Development 3315 11,211,772.00 Workforce Development Capitalization Incentive Grant 3316 1,837,494.00 Workforce Education Performance Incentives 3317 209,033.00 Adults with Disabilities 3318 CO&DS Withheld for Administrative Expenditure 3323 30,552.00 Diagnostic and Learning Resources Centers 3335 28,553.00 Sales Tax Distribution (s. 212.20(6)(d)6.a., F.S.) 3341 446,500.00 State Forest Funds 3342 State License Tax 3343 218,248.00 District Discretionary Lottery Funds 3344 Categorical Programs: Class Size Reduction Operating Funds 3355 45,006,989.00 Florida School Recognition Funds 3361 2,430,778.00 Voluntary Prekindergarten Program 3371 808,020.00 Preschool Projects 3372 Other State: Reading Programs 3373 Full-Service Schools Program 3378 State Through Local 3380 Other Miscellaneous State Revenues 3399 1,068,011.00 Total State 3300 65,630,832.00 Local: Required Local Effort and District Nonvoted Operating Discretionary Tax 3411 407,246,418.00 District Voted Additional Operating Tax 3414 113,281,340.00 Tax Redemptions 3421 Payment in Lieu of Taxes 3422 Excess Fees 3423 Tuition 3424 Lease Revenue 3425 328,665.00 Interest on Investments 3431 5,696,346.00 Gain on Sale of Investments 3432 Net Increase (Decrease) in Fair Value of Investments 3433 (582,883.00) Gifts, Grants and Bequests 3440 41,050.00 Interest Income - Leases 3445 Student Fees: Adult General Education Course Fees 3461 116,046.00 Postsec Career Cert-Appl Tech Diploma Course Fees 3462 1,292,639.00 Continuing Workforce Education Course Fees 3463 149,929.00 Capital Improvement Fees 3464 70,420.00 Postsecondary Lab Fees 3465 883,230.00 Lifelong Learning Fees 3466 1,238,506.00 GED® Testing Fees 3467 Financial Aid Fees 3468 Other Student Fees 3469 512,394.00 Other Fees: Preschool Program Fees 3471 64,268.00 Prekindergarten Early Intervention Fees 3472 282,574.00 School-Age Child Care Fees 3473 3,669,511.00 Other Schools, Courses and Classes Fees 3479 Miscellaneous Local: Bus Fees 3491 84,577.00 Transportation Services Rendered for School Activities 3492 283,486.00 Sale of Junk 3493 69,438.00 Receipt of Federal Indirect Cost Rate 3494 944,126.00 Other Miscellaneous Local Sources 3495 4,631,709.00 Refunds of Prior Year's Expenditures 3497 9,872.00 Collections for Lost, Damaged and Sold Textbooks 3498 6,486.00 Receipt of Food Service Indirect Costs 3499 751,497.00 Total Local 3400 541,071,644.00 Total Revenues 3000 608,445,347.00

DISTRICT SCHOOL BOARD OF SARASOTA COUNTY Exhibit K-1 STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - GENERAL FUND (Continued) FDOE Page 2 For the Fiscal Year Ended June 30, 2026 Fund 100 100 200 300 400 500 600 700 Salaries Employee Benefits Purchased Services Energy Services Materials and Supplies Capital Outlay Other Current: Instruction 5000 237,704,179.00 93,670,052.00 88,339,938.00 10,683.00 7,073,069.00 1,617,147.00 7,303,663.00 435,718,731.00 Student Support Services 6100 27,129,578.00 11,013,634.00 1,162,127.00 0.00 81,466.00 1,429.00 98,017.00 39,486,251.00 Instructional Media Services 6200 1,946,288.00 1,083,827.00 9,734.00 0.00 819,199.00 186,740.00 26,709.00 4,072,497.00 Instruction and Curriculum Development Services 6300 3,046,685.00 1,026,364.00 79,697.00 0.00 2,136.00 0.00 1,772.00 4,156,654.00 Instructional Staff Training Services 6400 3,764,541.00 1,418,293.00 149,539.00 0.00 39,851.00 144.00 54,727.00 5,427,095.00 Instructio

That the Sarasota County School Board approve the Annual Financial Report for the fiscal year ending June 30, 2026.

C. Adjournment