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

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