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0 5311, ~G Pei, 521 Go <br />s LEE COUNTY <br />Commilled Todoy for o Better Tomorrow <br />RESOLUTION <br />FOR <br />PROVIDING CURRENT EXPENSE EDUCATION FUNDING <br />WHEREAS, the Board of Commissioners desires to reduce the occurrence of dramatic <br />expenditure requests increases for education funding in order to achieve a stable tax rate; and; <br />WHEREAS, the most efficient way to achieve consistency in education funding is to <br />adopt a mutually agreed upon funding formula. <br />NOW, THEREFORE BE IT RESOLVED, that the Lee County Board of Commissioners <br />and the Lee County Board of Education jointly agree to the following funding formula to use for <br />annual current expense appropriations: <br />1. The percentage change in student population (as defined below) plus the Consumer Price Index <br />(Urban Wage Earners, Southern Region, Average of All Groups) applied to the preceding fiscal <br />year's appropriation shall equal the increase that the Lee County Board of Education will receive <br />• for its current expense budget. <br />2. The percentage change in student population shall be calculated by the taking the twentieth <br />school day enrollment for the 2005-2006 school year and comparing it to the planning allotment <br />for the 2006-2007 school year provided to the Lee County School System by the Department of <br />Public Instruction (DPI) in February 2006 and computing the percentage change. <br />Example: <br />2006-2007 Planning Allotment from DPI 9,262 <br />2005-2006 201h school day enrollment 9 158 <br />Total Student Growth 104 <br />Percentage increase 1.1% <br />Consumer Price Index (Calendar Year 2005) 3.3% <br />Total Percentage Increase in Budget 4.4% <br />2005-2006 Current Expense Funding $12,171,984 <br />Additional funding allocated to Lee County Schools $535,567 <br />Total FY 2006-07 Current Expense Funding S12,707,55 1 <br />NOW, THEREFORE BE IT FURTHER RESOLVED, that the Lee County Board of <br />Commissioners and Lee County Board of Education do mutually agree to revisit the funding <br />formula in January 2007 to ensure that such still adequately and fairly provides funding for the <br />current expense budget of the Lee County School System. <br />