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these costs, which are estimated to be $232M for all school districts. The estimated cost for the School District is $1.4M. D. This legislative session the Legislature passed HB 7067 increasing the number of new Family Empowerment Scholarships allowed each year to 1 percent of the Unweighted FTE students in the FEFP. This is an increase of 29,000 scholarships above the current cap of 18,000. For 2019-2020, $103,529,750 was transferred from the School District budget to pay for these scholarships. Statewide the cost for 2020-2021 could exceed $300M. E. The School District has experienced operating budget shortfalls impacting the instructional requirements of our students, compromising the physical and psychological safety of our students, and hampering the ability to recruit, retain, and incentivize high-quality teachers and staff to create the highest skilled workforce on the Treasure Coast. F. The School District's educational funding per House Bill 5001 for the 2020-2021 fiscal year will increase by $4,572,420. However, this additional funding is not sufficient to cover the School District's financial requirements of: $3,001,107 for 2020-2021 Teacher Salary Increase Allocation, $3,164,057 for 2013-2014 Teacher Salary Allocation that is permanently included in the School District's salary accounts, $149,317 for additional Mental Health Services, $1,400,000 for the 2020-2021 Florida Retirement System increase and $3,900,000 for the Florida Retirement System increases from 2012-2013 to 2019-2020. Total financial requirement of $9,849,796 compared to increased funding of $4,572,420 or a loss of $5,277,376. G. The School District's funding for student transportation from the FEFP formula for the last four years has been approximately $3.5M compared to actual expenditures of approximately $5.4M, or a deficit of $1.9M. H. The School District's funding for instructional materials has remained flat for the last four year at $1.4M. However, when compared to the "Benchmark" funding of $1.8M in 2007-2008, funding for instructional materials has decreased $454K or 25%. Statewide, funding has decreased $35M or 13% compared to 2007-2008. I. The School District's funding for 2020-2021 compared to the "highest funding" before the "Great Recession for 2007-2008" reflects an increase in funding of $11,845,974 along with increased financial requirements totaling $12,686,252, or a loss of $840,278. J. In August 2016, the electorate of Indian River County approved via ballot referendum an Essential Operating Needs Millage of 0.50 mills for fiscal years 2017/2018, 2018/2019, 2019/2020, and 2020/2021. This voter approved millage referendum generates approximately $11 million per fiscal year for the School District of Indian River County. However, the authority granted for the voter approved millage expires at the end of fiscal 2020/2021. K. The School District needs sufficient revenues to maintain and improve its high- quality public schools. Page 2 of 6 4