2012-043 - Laserfiche WebLink

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BE IT RESOLVED by The School Board of Indian River County, Florida ("School Board"), acting as the governing body of the School District of Indian River County, Florida ("School District"), as follows: SECTION 1. AUTHORITY FOR RESOLUTION. This Resolution is adopted pursuant to Section 1011.73(2), Florida Statutes, and other applicable provisions of law. SECTION 2. FINDINGS. The School Board hereby finds and determines as follows: A. The State of Florida has made significant budget reductions to the education funding formula since the 2007-2008 fiscal year. B. All School Boards in the State of Florida, including this School Board, have experienced drastic funding reductions while operating expenses continue to rise. C. The School District has experienced operating budget shortfalls impacting the instructional needs of our students. D. The School District recognized revenue losses from the 2007-2008 fiscal year to the 2011-2012 fiscal year equivalent to a per pupil decrease of more than 12% in total funding. E. The School District has experienced a decline of more than $18.4 million dollars or 37% in state revenues since fiscal year 2007/08. F. The School District has experienced a decline of more than $29.3 million dollars or 20% in local revenues since fiscal year 2007/08. G. The School District continues to experience a severe 6% reduction in property values for the 2011-2012 fiscal year, and there is every indication this decline will continue in the 2012-2013 fiscal year and beyond. H. The School District received nearly $9 million dollars per year for fiscal years 2009/10 and 2010/11 in federal stimulus funding. In addition, the School District received $3.6 million dollars in federal "edujobs" funding in fiscal year 2010/11. These funds were appropriated by the federal government and specifically designed to partially offset the loss in local and state revenues due to the deepening economic recession. However, the School District no longer receives these federal dollars after the 2010/11 fiscal year.