HomeMy WebLinkAboutSchool Board of Brevard County - Public Financial ReportINCLUDED IN THIS REPORT
Welcome Letter from the Superintendent and Board Members 2
A Message from the CFO and Administrative Officials 3
About Brevard Public Schools (BPS) 4-5
BPS By the Numbers 6
Financial Summary 7-8
Fund Balance 9
How BPS Is Funded 10-13
How Funds Are Spent 14-16
Capital Assets and Sales Surtax 17-18
Long Term Debt 19-20
Property Taxes 21
The Sky Is The Limit 22
Contact Us 23
Our Missionis to serve every student with excellence as the standard.
Welcome Letter fromthe Superintendent
2
Brevard Public Schools’ Board Members
District 1Misty BelfordChairpersonMobile: (321) 591-9387 Office: (321) 633-1000 ext. 11412 belford.misty@brevardschools.org
District 2Cheryl McDougallMobile: (321) 987-6382 Office: (321) 633-1000 ext. 11412
mcdougall.cheryl@brevardschools.org
District 3Jennifer JenkinsMobile: (321) 271-9495 Office: (321) 633-1000 ext. 11412
jenkins.jenniferd@brevardschools.org
District 4
Matt Susin
Vice-Chairman
Mobile: (321) 684-9735
Office: 633-1000 ext. 11412
susin.matthew@brevardschools.org
District 5Katye CampbellMobile: (321) 271-9946Office: (321) 633-1000 ext. 11412
campbell.katye@brevardschools.org
Superintendent of Schools
Mark W. Mullins, Ed.D.
(321) 633-1000, ext. 11401
mullins.mark@brevardschools.org
Dear Community Members and Brevard Families:
I am pleased to launch Brevard County School District’s first Popular Annual Financial Report (PAFR) for the fiscal year ended June 30, 2021. Transparency and
accountability are at the heart of government operations, and I am proud of how my Finance team worked so diligently to give the community unprecedented insight into the operations and finances of Brevard Public Schools through this document.
Brevard Schools are fortunate to have a supportive community that is a partner in the education of our children. As steward of the community’s investments in its schools,
the district is committed to ensuring residents have easy access to and understanding of Brevard Schools’ finances. This Popular Annual Financial Report (PAFR) is a part of our commitment to a strong connection to our community and this report sum-
marizes the financial activities and operating results. It offers an easy-to-understand overview of the district’s general operating activities, as well as key financial trends
and data taken from audited financial statements in the district’s 188-page Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2021.
Of course, the ACFR is available for any of the public to view for a more comprehen-
sive review. The PAFR provides a great starting place for understanding Brevard Pub-lic School’s financial position and standing. I look forward to you taking time to read
this year’s report. We are proud of our laser focus on making the most with every tax dollar to serve EVERY student with Excellence as a standard.
Sincerely,
Dr. Mullins
Brevard County Superintendent
A MESSAGE FROM THE CFO
Dear Community Members and Families of Brevard County:
Financial Services is pleased to launch the Brevard County Public Schools’ Popular Annual Financial
Report (PAFR) for the community. This report is an opportunity to present the district’s finances in a more condensed and easier to read format that provides a deeper understanding of the financial health and operations in our district.
Serving EVERY Student with Excellence as the standard drives our decision-making. It shapes our priorities and guides our resourcing decisions as our teachers inspire students to reach for the stars.
This report summarizes the financial activities and operating results reported in the Brevard County Public Schools’ audited Annual Comprehensive Financial Report (ACFR). The ACFR is a more detailed and complete financial presentation prepared in accordance with Generally Accepted Accounting
Principles (GAAP) and was audited by the district’s independent external auditors. The PAFR, however, is unaudited and presented on a non-GAAP basis. It does not include full disclosures or segregated funds.
For more detailed information, the Annual Comprehensive Financial Report is available on the district’s website at brevardschools.org
I want to extend my appreciation to our Finance and Community Relations Staff for their dedication
to this project. And a special thanks to Wendy Andrews for her vision, leadership, and follow through of this powerful tool that provides additional transparency and Community connection.
If you have any questions regarding this report, please contact Susan Denyer, Director of Accounting Services, at denyer.susan@brevardschools.org.
Respectfully,
Cynthia Lesinski
Chief Financial Officer
Superintendent Mark W. Mullins, Ed. D.
Deputy Superintendent/Chief Human Resources Officer Beth Thedy, Ed. D.
Assistant Superintendent of Elementary Leading & Learning Jane Cline
Assistant Superintendent of Secondary Leading & Learning Stephanie Soliven, Ed. D.
Assistant Superintendent of Student Services Christine Moore
Assistant Superintendent of Information Technology Russell Cheatham
Assistant Superintendent of Facilities Services Susan Hann, P.E., AICP
Chief Strategic Communications Officer Russell Bruhn
Chief Financial Officer Cynthia Lesinski
Chief Operating Officer Robin L. Novelli
School Board Attorney Paul Gibbs, Esq.
ADMINISTRATIVE OFFICIALS
About Brevard Public Schools
“Every student matters, every moment counts.”
This is our guiding principle as we strive each day
to educate the future of the Space Coast. Brevard
Public Schools has a unique opportunity to be at
the heart of a community with a rich history of
space exploration and innovation which has fueled
some of the greatest achievements in our country.
Brevard Public Schools is the 49th largest district
in the U.S. and the 10th largest district in Florida.
We are the largest employer in Brevard County
with approximately 8,244 staff members serving
over 73,000 students annually. With 84 schools,
10 specialty centers, and 12 charter schools,
the district educates its students in 17 different
municipalities across the Space Coast. Brevard
Public Schools’ goal is to serve our community
and enhance students’ lives by delivering the
highest quality education in a culture of
dedication, collaboration and learning.
Our Mission:
TO SERVE EVERY STUDENT WITH EXCELLENCE AS THE STANDARD
Our Vision:
Brevard Public Schools will serve our community and enhance students’ lives by delivering the highest quality education in a culture of dedication, collaboration, and learning.
Our Values and Beliefs:
Connection: We are committed to
creating relationships built on a foundation of
genuine care and trust. We will work with our
community to ensure that together our stu-
dents achieve more because of the network
of support that those relationships foster.
Diversity: We embrace our
differences and celebrate the strength
of the individuality that collectively makes
our learning environments a place for each
person to grow and thrive.
Dedication:
We will let compassion,
conviction, and an intense
dedication to the mission of
teaching and learning stand as
a trademark of our work.
Integrity:
We will uphold honesty,
transparency and the
public trust as guiding
principles in all we do.
Collaboration:
We will work as a team to
provide a culture marked
by shared purpose, an
innovative spirit and
continual learning.
43
6
2
10THNATIONAL BLUE
RIBBON SCHOOLS
HIGH SCHOOLS RANKED
IN TOP 10 IN FLORIDA
LARGEST SCHOOL
DISTRICT IN THE STATE
11
NUMBER OF SCHOOLS: 96
Elementary
Middle
Jr./Sr. High
High
Charter Schools
57
5
11
12
BP
S
B
Y
T
H
E
N
U
M
B
E
R
S
STOPS PER DAY
YEARS IS THE
AVERAGE
AGE OF
DISTRICT BUILDINGS
51
BUDGET
TECHNOLOGY
FACILITIES
DesktopComputers
12,607
Laptop &Tablet
59,051
$1,155,250,184
$ 656,403,530
$ 123,531,191
$ 35,692,036
$ 253,588,800
$ 4,347,919
$ 81,686,708
Operating
Special Revenue
Debt Service
Capital
Enterprise
Internal Service
NUMBER OF
EMPLOYEES8,244
for Excellent Instruction
/
•
•
•
•
•
•
•
•
•
•SQUARE FEET OF FACILITIES
12,218,524
SCHOOL NUTRITION
3,532,073
BREAKFASTS SERVED
5,751,127
LUNCHES SERVED
TRANSPORTATION
4,624
BUSES466 ROUTES325
Operating
SpecialRevenue
Debt Service
Capital
InternalService
Enterprise
Provide every student a learning environment
that empowers them to reach their full potential.
Academic Excellence1Goal
Attract, develop, and retain exceptional talent
to impact academic excellence.
Exceptional Workforce 2Goal
Engage stakeholders as advocates and partners to
further academic excellence for all students.
Community Connection3Goal
Ensure sustainable district operations that
contribute to the success of academic excellence.4Goal
OperationalSustainability
65
Assets FY21
Cash and Investments $325,081,759
Other Assets 40,199,462
Capital Assets 818,011,445
Total Assets 1,183,292,666
Deferred Outflows of Resources 167,404,299
Total Assets and Deferred Outflows of Resources 1,350,696,965
Liabilities
Accounts Payable 82,277,849
Other Liabilities 1,228,907
Long-term Liabilities 931,250,322
Total Liabilities 1,014,757,078
Deferred Inflows of Resources 21,403,798
Total Liabilities and Deferred Inflows of Resources 1,036,160,876
Net Investment in Capital Assets 442,355,084
Restricted 185,576,544
Unrestricted (Deficit) (313,395,539)
Total Net Position 314,536,089
FINANCIAL SUMMARY
Government-wide Financial Statements
The Government-wide financial statements
include the Statement of Net Position and the
Statement of Activities. They are designed
to present financial information in the same
manner as used in private businesses. To do
so, each governmental fund is combined and
reported as one. Component unit (charter
school) information is not included.
The Statement of Net Position provides infor-
mation about Brevard Public Schools’ assets and
liabilities with the difference of the two reported
as net position. The Statement of Activities pro-
vides information about Brevard Public Schools’
revenues and expenditures with the difference of
the two also reported as net position. Increases
or decreases in the net position indicate whether
the district’s financial health is improving or not.
• Assets exceeded liabilities by $314.5 million at the end of the fiscal year.
• The largest portion of Brevard Public Schools’ net position, $442.4 million, reflects its investment
in capital assets less any related debt and deferred outflows of resources that are still outstanding.
• Revenue for grants and contributions increased $33.2 million due to COVID-19 funding.
• Property tax revenue improved $12.4 million due to higher tax collections resulting from increased property values and homeownership.
• The $8.2 million increase in Miscellaneous revenue is mostly due to adding internal funds as part of the special revenue funds (see page 13 for further information).
• Expenditures increased $30.2 million. The majority of this is attributed to a $12.6 million increase in instruction and student services and a $7.6 million increase in facility costs. These increased expenditures were mostly funded by Federal Education Stabilization (COVID-19) grant funds.
Revenues FY21
Charges for Services $ 3,537,526
Operating Grants and Contributions 48,259,941
Capital Grants and Contributions 2,743,592
Property Taxes, Levied for General Purposes 209,714,803
Property Taxes, Levied for Capital Projects 70,804,494
Local Sales Surtax 51,591,468
Grants and Contributions, Non-Restricted 441,861,776
Miscellaneous 17,281,904
Unrestricted Investment Earnings 384,095
Sale of Assets 127,200
Transfers 799,035
Total Revenues 847,105,834
Expenses
Instructional Services 440,025,517
Instructional Support Services 60,026,543
Student Services 31,586,700
School Board 1,691,084
General and School Administration 48,908,443
Non-Capitalizable Facilities Acquisition & Constr. 35,953,900
Fiscal Services 3,830,591
Food Services 34,353,900
Central Services 7,643,423
Student Transportation Services 20,800,473
Operation and Maintenance of Plant 74,041,020
Administrative Technology Services 5,651,770
Community Services 6,245,102
Interest on Long-Term Debt 17,142,353
Depreciation - Unallocated 45,160,549
Loss on Disposition of Assets 0
Total Expenses 833,059,475
Change in Net Position 14,046,359
Net Position, Beginning 292,116,652
Adjustment to Net Position 8,373,078
Net Position, Beginning as Restated 300,489,730
Net Position, Ending 314,536,089
87
FY20
$ 6,976,472
38,062,128
2,778,405
202,038,732
66,065,786
46,693,650
418,812,816
9,103,475
6,003,210
0
1,359,695
797,894,369
432,300,248
57,671,102
29,056,013
1,084,286
48,169,412
30,187,187
3,584,305
33,322,573
8,168,997
21,200,326
72,171,643
4,913,664
2,116,584
16,102,569
42,461,844
387,692
802,898,445
(5,004,076)
297,120,728
0
297,120,728
292,116,652
FY20
$297,051,317
30,783,883
821,466,704
1,149,301,904
151,147,583
1,300,449,487
88,534,367
3,046,265
873,773,822
965,354,454
42,978,381
1,008,332,835
417,899,236
152, 806,944
(278,589,528)
292,116,652
Statement of Net Position
Statement of Activites
FUND BALANCE
Fund balance is the difference between assets and liabilities. When each fiscal year ends, if
revenue exceeds expenditures, the fund balance
will increase (more assets are available for use). However, if expenditures are higher than revenue,
the fund balance will decrease (less assets are available for use).
Operating revenues and transfers in from other funds have been exceeding expenditures for most of the past few years, resulting in a slight in-
crease in fund balance. In FY20, COVID-19 caused remote learning for a portion of the year and resulted
in some reduction of operating costs, which helped increase the fund balance. Additionally, a portion of the new costs related to the pandemic were covered
through Federal Education Stabilization funding in other funds or through transfers in from other funds.
Fund Balance Definitions
How BPS Is Funded
The General Fund sources most of the daily operations. It includes revenue from property taxes and investments (long term debt). Both are discussed
in more detail later in this report. It also includes Florida Education Finance Program (FEFP), which is a funding formula adopted by the Florida Legislature
in 1973 to allocate funds appropriated by the Legislature to school districts for K-12 public school operations. The FEFP implements the constitutional requirement for a uniform system of free public education. Additionally, the
General Fund includes categorical funds, which are earmarked by the state for specific use. Examples include funding for textbooks, student transportation,
and security. The FEFP is cited as a national model for funding equity.”
In FY21, lotto proceeds were $0. This is because the state’s Discretionary Lotto allocation was removed due to COVID-19 causing closures of schools
and other entities and organizations. Because the state relies so heavily on tourism and sales tax dollars to fund its budget, the shutdown of most shops
and businesses dramatically cut those proceeds. As a result, the governor had to veto several items out of the 2020-2021 budget. The largest individual cut was to K-12 education, which included the Discretionary Lotto allocation.
Nonspendable – Amounts that are not spendable (for 2021 this is for inventories and prepaid items).
Restricted – Amounts that can be spent only for specific purposes as restricted by external parties,
constitutional provisions, or enabling legislation (for 2021 this is for capital projects, state categorical
programs, debt service, and food services).
Committed – Amounts that can only be spent as specifically obligated by the School Board
(for 2021 this is for reading coaches and school athletic assistance).
Assigned – Amounts that are expected to be spent for a specific purpose as directed by the School
Board or Superintendent (for 2021 this is for school operations, internal funds, and non-restricted
capital projects).
Unassigned – Amounts that are not included in other fund balance classifications and, therefore,
can be used for any purpose of the fund.
Fund Balance - General Fund
FY21 Revenue -
All Governmental Funds
109
Capital Fund FY20
Local Property Taxes
Sales Surtax
Investments
Impact Fees
Other
State PECO
Other
Federal N/A
TOTAL
FY21
$ 70,804,494
$ 51,591,468
$ 173,175
$ 18,549,679
$ 374,578
$ 4,080,505
$ 5,013,790
$ -
$ 150,587,689
47.02%
34.26%
0.11%
12.32%
0.25%
2.71%
3.33%
0.00%
100.00%
FY19
$ 61,481,678
$ 47,429,873
$ 3,062,580
$ 13,734,323
$ 189,337
$ 4,750,036
$ 2,993,795
$ -
$ 133,641,622
46.96%
33.19%
2.02%
11.38%
0.28%
2.55%
3.63%
0.00%
100.00%
46.00%
35.49%
2.29%
10.28%
0.14%
3.55%
2.24%
0.00%
100.00%
$ 66,065,786
$ 46,693,650
$ 2,838,085
$ 16,004,661
$ 399,953
$ 3,580,967
$ 5,107,324
$ -
$ 140,690,426
Grant Fund
Local Other
State Other
Federal Direct
Grants
TOTAL
$
$ -
31,133
$ 6,343,572
$ 66,720,909
$ 73,095,614
0.00%
0.04%
8.68%
91.28%
100.00%
$ 493
$ 43,620
$ 5,639,005
$ 45,529,971
$ 51,213,089
0.00%
0.09%
11.01%
88.90%
100.00%
0.00%
0.08%
11.29%
88.63%
100.00%
$ 100
$ 43,132
$ 5,959,232
$ 46,774,724
$ 52,777,188
Food Services
Local Food Sales
Other
State Food Services
Federal Food Services
TOTAL
$ 3,383,801
$ 285,232
$ 332,807
$ 36,666,862
$ 40,668,702
8.32%
0.70%
.82%
90.16%
100.00%
$ 9,510,027
$ 13,067
$ 340,223
$ 25,132,432
$ 34,995,749
27.17%
0.04%
0.97%
71.82%
100.00%
$ 7,252,554
$ 41,112
$ 347,188
$ 26,355,335
$ 33,996,189
Debt Services
Local Investments
Other
State Other
Federal N/A
TOTAL
$ 164,729
$ -
$ 435,774
$ -
$ 600,503
27.43%
0.00%
72.57%
0.00%
100.00%
28.05%
0.00%
71.95%
0.00%
100.00%
$ 133,368
$ -
$ 342,045
$ -
$ 475,413
General Fund
Local Property Taxes
Investments
Other
State FEFP
Categoricals
Other (Includes
Federal Direct
Grants
TOTAL
$ 196,789,468
$ 2,858,818
$ 9,297,195
$ 245,026,986
$ 83,910,092
13,533,232
$ 786,547
$ 2,278,768
$ 554,481,106
35.49%
0.52%
1.68%
44.19%
15.13%
2.44%
0.14%
0.41%
100.00%
$ 209,714,803
$ 120,058
$ 11,171,486
$ 262,434,270
$ 82,404,103
$ 4,250,031
$ 769,392
$ 4,068,023
$ 574,932,166
35.61%
0.33%
1.69%
45.55%
15.17%
0.92%
0.10%
0.63%
100.00%
36.48%
0.02%
1.94%
45.65%
14.33%
0.74%
0.13%
0.71%
100.00%
$ 200,038,732
$ 1,852,722
$ 9,575,351
$ 258,418,786
$ 86,062,876
$ 5,191,854
$ 595,095
$ 3,576,681
$ 567,312,097
FY20 FY21FY19
FY20 FY21FY19
FY20 FY21FY19
FY20 FY21FY19
21.33%
0.12%
1.02%
77.52%
100.00%
$ 46
$ -
$ 311,712
$ -
$ 311,758
0.01%
0.00%
99.99%
0.00%
100.00%
GrantFunds
FoodServices
Capital
Funds
General
Fund
FY21 Revenue - All Governmental Funds
Debt Services
FY21 Revenue - Food Services
Federal
Food Services
90.16%
Federal
Direct 8.68%
Federal
Grants 91.28%
FY21 Revenue - Grant Funds
Local
Impact Fees
12.32%
Local
Sales Surtax
34.26%
Local
Property
Taxes 47.02%
Local
Property Taxes
36.48%
State Categoricals
14.33%
State
FEFP
45.65%
State
Other
Federal Grants
Local Food Sales
8.32%
State
Other
99.99%
FY21 Revenue - Debt Services
Local
Investments
Federal Direct
Local
Other
State OtherState PECOLocal Investments
Local Other
State Other71.95%
Local Investments28.03%
FY20 Revenue - Debt Services
GrantFunds
FoodServices
Capital Funds
GeneralFund
FY20 Revenue - All Governmental Funds
Debt Services and Internal Funds
FY20 Revenue - Food Services
Local Food Sales 21.33%
Federal Food Services 77.52%
FoodServices
Federal Direct 11.29%Federal Grants 88.63%FY20 Revenue - Grant FundsFY20 Revenue - Capital FundsLocal Impact Fees 11.38%Local Sales Surtax 33.19%Local Property Taxes 46.96%FY20 Revenue - General FundLocal Property Taxes 35.61%State Categoricals 15.17%State FEFP 45.55%
Nonspendable Restricted Committed Assigned Unassigned
10,000,000
0
20,000,000
30,000,000
40,000,000
50,000,000
FY21FY17 FY18 FY19 FY20
60,000,000
70,000,000
FY21 Revenue -
General Fund
How BPS Is Funded (continued)
Capital funds are used for the acquisition,
construction or renovation of major capital
facilities. Capital projects and the funding
sources of property taxes and sales surtax are
discussed in more detail later in this report.
Impact fees are allocated based on new
residential development. PECO is the Public
Education Capital Outlay funds derived from
utility taxes that are allocated by the legislature.
In FY20, all the PECO maintenance funding
started being directed by the state to the
charter schools through the District.
Grant revenues are limited to being used for
specific purposes by the grantor.
Federal sources include grants for Head Start,
Adult Education, Title I, Special Education,
Federal Education Stabilization (COVID-19), and other smaller grants that all pass through
the Department of Education.
Food Services is self-supportive. Local revenue is from the
sale of meals not supported by state or federal programs. State revenue is from breakfast supplements and lunch appropriations. Federal revenue is from reimbursements for
specific meals served, grants, and the value of commodities.
USDA Meal Flexibility Waivers for FY21 allowed Food and
Nutrition Services (FNS) to serve meals to all children ages 18 and younger regardless of status from July 1 – August 21, 2020 and September 16, 2020 – June 30, 2021 under the Summer
Food Service Program (SFSP). This resulted in a decrease of local revenue due to meals being free during FY21, with the
exception of August 24 – September 15, 2020. During this short timeframe, FNS operated under the National School Lunch Program (NSLP), in which meals were served and
claimed based on student status.
1211
Grant
Funds
Food
Services
Capital
Funds
General
Fund
FY21 Revenue - All Governmental Funds
Debt
Services
FY21 Revenue - Food Services
Federal
Food Services
90.16%
Federal Direct 8.68%
Federal
Grants
91.28%
FY21 Revenue - Grant FundsLocal Impact Fees 12.32%
Local
Sales
Surtax
34.26%
Local Property Taxes 47.02%Local Property Taxes 36.48%State Categoricals 14.33%
State
FEFP
45.65%
State Other Federal Grants
Local
Food Sales
8.32%
State
Other
99.99%
FY21 Revenue - Debt Services
Local Investments
Federal
Direct
Local
Other
State OtherState PECOLocal InvestmentsLocal Other
GrantFunds
Food
Services
Capital
Funds
GeneralFund
FY21 Revenue - All Governmental Funds
Debt Services
FY21 Revenue - Food Services
Federal
Food Services 90.16%
Federal
Direct 8.68%
Federal
Grants
91.28%
FY21 Revenue - Grant Funds
Local
Impact Fees
12.32%
Local
Sales Surtax
34.26%
Local
Property
Taxes
47.02%
Local
Property Taxes
36.48%
State
Categoricals
14.33%
State
FEFP 45.65%
State
Other
Federal Grants
Local
Food Sales
8.32%
State
Other99.99%
FY21 Revenue - Debt Services
Local
Investments
Federal Direct
Local
Other
State OtherState PECO
Local Investments
Local
Other
Capital Fund FY20
Local Property Taxes
Sales Surtax
Investments
Impact Fees
Other
State PECO
Other
Federal N/A
TOTAL
FY21
$ 70,804,494
$ 51,591,468
$ 173,175
$ 18,549,679
$ 374,578
$ 4,080,505
$ 5,013,790
$ -
$ 150,587,689
47.02%
34.26%
0.11%
12.32%
0.25%
2.71%
3.33%
0.00%
100.00%
FY19
$ 61,481,678
$ 47,429,873
$ 3,062,580
$ 13,734,323
$ 189,337
$ 4,750,036
$ 2,993,795
$ -
$ 133,641,622
46.96%
33.19%
2.02%
11.38%
0.28%
2.55%
3.63%
0.00%
100.00%
46.00%
35.49%
2.29%
10.28%
0.14%
3.55%
2.24%
0.00%
100.00%
$ 66,065,786
$ 46,693,650
$ 2,838,085
$ 16,004,661
$ 399,953
$ 3,580,967
$ 5,107,324
$ -
$ 140,690,426
Grant Fund
Local Other
State Other
Federal Direct
Grants
TOTAL
$
$ -
31,133
$ 6,343,572
$ 66,720,909
$ 73,095,614
0.00%
0.04%
8.68%
91.28%
100.00%
$ 493
$ 43,620
$ 5,639,005
$ 45,529,971
$ 51,213,089
0.00%
0.09%
11.01%
88.90%
100.00%
0.00%
0.08%
11.29%
88.63%
100.00%
$ 100
$ 43,132
$ 5,959,232
$ 46,774,724
$ 52,777,188
Food Services
Local Food Sales
Other
State Food Services
Federal Food Services
TOTAL
$ 3,383,801
$ 285,232
$ 332,807
$ 36,666,862
$ 40,668,702
8.32%
0.70%
.82%
90.16%
100.00%
$ 9,510,027
$ 13,067
$ 340,223
$ 25,132,432
$ 34,995,749
27.17%
0.04%
0.97%
71.82%
100.00%
$ 7,252,554
$ 41,112
$ 347,188
$ 26,355,335
$ 33,996,189
Debt Services
Local Investments
Other
State Other
Federal N/A
TOTAL
$ 164,729
$ -
$ 435,774
$ -
$ 600,503
27.43%
0.00%
72.57%
0.00%
100.00%
28.05%
0.00%
71.95%
0.00%
100.00%
$ 133,368
$ -
$ 342,045
$ -
$ 475,413
General FundLocal Property Taxes Investments Other State FEFP Categoricals Other (Includes Federal Direct Grants
TOTAL
$ 196,789,468 $ 2,858,818 $ 9,297,195 $ 245,026,986 $ 83,910,092 13,533,232$ 786,547 $ 2,278,768
$ 554,481,106
35.49% 0.52% 1.68% 44.19% 15.13%2.44% 0.14% 0.41%
100.00%
$ 209,714,803 $ 120,058 $ 11,171,486 $ 262,434,270 $ 82,404,103 $ 4,250,031 $ 769,392 $ 4,068,023
$ 574,932,166
35.61%0.33%1.69%45.55%15.17%0.92%0.10%0.63%
100.00%
36.48%0.02%1.94%45.65%14.33%0.74%0.13%0.71%
100.00%
$ 200,038,732$ 1,852,722$ 9,575,351$ 258,418,786$ 86,062,876$ 5,191,854$ 595,095$ 3,576,681
$ 567,312,097
FY20 FY21FY19
FY20 FY21FY19
FY20 FY21FY19
FY20 FY21FY19
21.33%
0.12%
1.02%
77.52%
100.00%
$ 46
$ -
$ 311,712
$ -
$ 311,758
0.01%
0.00%
99.99%
0.00%
100.00%
Capital Fund FY20
Local Property Taxes
Sales Surtax
Investments
Impact Fees
Other
State PECO
Other
Federal N/A
TOTAL
FY21
$ 70,804,494
$ 51,591,468
$ 173,175
$ 18,549,679
$ 374,578
$ 4,080,505
$ 5,013,790
$ -
$ 150,587,689
47.02%
34.26%
0.11%
12.32%
0.25%
2.71%
3.33%
0.00%
100.00%
FY19
$ 61,481,678
$ 47,429,873
$ 3,062,580
$ 13,734,323
$ 189,337
$ 4,750,036
$ 2,993,795
$ -
$ 133,641,622
46.96%
33.19%
2.02%
11.38%
0.28%
2.55%
3.63%
0.00%
100.00%
46.00%
35.49%
2.29%
10.28%
0.14%
3.55%
2.24%
0.00%
100.00%
$ 66,065,786
$ 46,693,650
$ 2,838,085
$ 16,004,661
$ 399,953
$ 3,580,967
$ 5,107,324
$ -
$ 140,690,426
Grant Fund
Local Other
State Other
Federal Direct
Grants
TOTAL
$
$ -
31,133
$ 6,343,572
$ 66,720,909
$ 73,095,614
0.00%
0.04%
8.68%
91.28%
100.00%
$ 493
$ 43,620
$ 5,639,005
$ 45,529,971
$ 51,213,089
0.00%
0.09%
11.01%
88.90%
100.00%
0.00%
0.08%
11.29%
88.63%
100.00%
$ 100
$ 43,132
$ 5,959,232
$ 46,774,724
$ 52,777,188
Food Services
Local Food Sales
Other
State Food Services
Federal Food Services
TOTAL
$ 3,383,801
$ 285,232
$ 332,807
$ 36,666,862
$ 40,668,702
8.32%
0.70%
.82%
90.16%
100.00%
$ 9,510,027
$ 13,067
$ 340,223
$ 25,132,432
$ 34,995,749
27.17%
0.04%
0.97%
71.82%
100.00%
$ 7,252,554
$ 41,112
$ 347,188
$ 26,355,335
$ 33,996,189
Debt Services
Local Investments
Other
State Other
Federal N/A
TOTAL
$ 164,729
$ -
$ 435,774
$ -
$ 600,503
27.43%
0.00%
72.57%
0.00%
100.00%
28.05%
0.00%
71.95%
0.00%
100.00%
$ 133,368
$ -
$ 342,045
$ -
$ 475,413
General Fund
Local Property Taxes
Investments
Other
State FEFP
Categoricals
Other (Includes
Federal Direct
Grants
TOTAL
$ 196,789,468
$ 2,858,818
$ 9,297,195
$ 245,026,986
$ 83,910,092
13,533,232
$ 786,547
$ 2,278,768
$ 554,481,106
35.49%
0.52%
1.68%
44.19%
15.13%
2.44%
0.14%
0.41%
100.00%
$ 209,714,803
$ 120,058
$ 11,171,486
$ 262,434,270
$ 82,404,103
$ 4,250,031
$ 769,392
$ 4,068,023
$ 574,932,166
35.61%
0.33%
1.69%
45.55%
15.17%
0.92%
0.10%
0.63%
100.00%
36.48%
0.02%
1.94%
45.65%
14.33%
0.74%
0.13%
0.71%
100.00%
$ 200,038,732
$ 1,852,722
$ 9,575,351
$ 258,418,786
$ 86,062,876
$ 5,191,854
$ 595,095
$ 3,576,681
$ 567,312,097
FY20 FY21FY19
FY20 FY21FY19
FY20 FY21FY19
FY20 FY21FY19
21.33%
0.12%
1.02%
77.52%
100.00%
$ 46
$ -
$ 311,712
$ -
$ 311,758
0.01%
0.00%
99.99%
0.00%
100.00%
Capital Fund FY20Local Property Taxes Sales Surtax Investments Impact Fees Other State PECO Other Federal N/A TOTAL FY21$ 70,804,494 $ 51,591,468 $ 173,175 $ 18,549,679 $ 374,578 $ 4,080,505 $ 5,013,790 $ - $ 150,587,689 47.02% 34.26% 0.11% 12.32% 0.25% 2.71% 3.33% 0.00% 100.00% FY19$ 61,481,678 $ 47,429,873 $ 3,062,580 $ 13,734,323 $ 189,337 $ 4,750,036 $ 2,993,795 $ - $ 133,641,622 46.96% 33.19% 2.02% 11.38% 0.28% 2.55% 3.63% 0.00% 100.00% 46.00% 35.49% 2.29% 10.28% 0.14% 3.55% 2.24% 0.00% 100.00% $ 66,065,786$ 46,693,650$ 2,838,085$ 16,004,661$ 399,953$ 3,580,967$ 5,107,324$ -$ 140,690,426Grant FundLocal Other State Other Federal Direct Grants
TOTAL
$ $ - 31,133 $ 6,343,572 $ 66,720,909
$ 73,095,614
0.00% 0.04% 8.68% 91.28%
100.00%
$ 493 $ 43,620 $ 5,639,005 $ 45,529,971
$ 51,213,089
0.00% 0.09% 11.01% 88.90%
100.00%
0.00% 0.08% 11.29% 88.63%
100.00%
$ 100$ 43,132$ 5,959,232$ 46,774,724
$ 52,777,188
Food Services
Local Food Sales
Other
State Food Services
Federal Food Services
TOTAL
$ 3,383,801
$ 285,232
$ 332,807
$ 36,666,862
$ 40,668,702
8.32%
0.70%
.82%
90.16%
100.00%
$ 9,510,027
$ 13,067
$ 340,223
$ 25,132,432
$ 34,995,749
27.17%
0.04%
0.97%
71.82%
100.00%
$ 7,252,554
$ 41,112
$ 347,188
$ 26,355,335
$ 33,996,189
Debt Services
Local Investments
Other
State Other
Federal N/A
TOTAL
$ 164,729
$ -
$ 435,774
$ -
$ 600,503
27.43%
0.00%
72.57%
0.00%
100.00%
28.05%
0.00%
71.95%
0.00%
100.00%
$ 133,368
$ -
$ 342,045
$ -
$ 475,413
General FundLocal Property Taxes Investments Other State FEFP Categoricals Other (Includes Federal Direct Grants TOTAL $ 196,789,468 $ 2,858,818 $ 9,297,195 $ 245,026,986 $ 83,910,092 13,533,232$ 786,547 $ 2,278,768 $ 554,481,106 35.49% 0.52% 1.68% 44.19% 15.13%2.44% 0.14% 0.41%100.00%$ 209,714,803 $ 120,058 $ 11,171,486 $ 262,434,270 $ 82,404,103 $ 4,250,031 $ 769,392 $ 4,068,023 $ 574,932,166 35.61%0.33%1.69%45.55%15.17%0.92%0.10%0.63%100.00%36.48%0.02%1.94%45.65%14.33%0.74%0.13%0.71%100.00%$ 200,038,732$ 1,852,722$ 9,575,351$ 258,418,786$ 86,062,876$ 5,191,854$ 595,095$ 3,576,681$ 567,312,097FY20 FY21FY19FY20FY21FY19
FY20 FY21FY19
FY20 FY21FY19
21.33%
0.12%
1.02%
77.52%
100.00%
$ 46
$ -
$ 311,712
$ -
$ 311,758
0.01%
0.00%
99.99%
0.00%
100.00%
FY21
Revenue
Capital Funds
Grant
Funds
Food
Services
Capital
Funds
General
Fund
FY21 Revenue - All Governmental Funds
Debt
Services
FY21 Revenue - Food Services
Federal
Food Services
90.16%
Federal
Direct
8.68%
Federal
Grants
91.28%
FY21 Revenue - Grant Funds
Local
Impact Fees
12.32%
Local
Sales
Surtax
34.26%
Local
Property
Taxes
47.02%
Local
Property
Taxes
36.48%
State
Categoricals
14.33%
State
FEFP
45.65%
State
Other
Federal
Grants
Local
Food Sales
8.32%
State
Other
99.99%
FY21 Revenue - Debt Services
Local
Investments
Federal
Direct
Local
Other
State OtherState PECO
Local Investments
Local Other
Capital Fund FY20Local Property Taxes Sales Surtax Investments Impact Fees Other State PECO Other Federal N/A TOTAL FY21$ 70,804,494 $ 51,591,468 $ 173,175 $ 18,549,679 $ 374,578 $ 4,080,505 $ 5,013,790 $ - $ 150,587,689 47.02% 34.26% 0.11% 12.32% 0.25% 2.71% 3.33% 0.00% 100.00% FY19$ 61,481,678 $ 47,429,873 $ 3,062,580 $ 13,734,323 $ 189,337 $ 4,750,036 $ 2,993,795 $ - $ 133,641,622 46.96% 33.19% 2.02% 11.38% 0.28% 2.55% 3.63% 0.00% 100.00% 46.00% 35.49% 2.29% 10.28% 0.14% 3.55% 2.24% 0.00% 100.00% $ 66,065,786$ 46,693,650$ 2,838,085$ 16,004,661$ 399,953$ 3,580,967$ 5,107,324$ -$ 140,690,426Grant FundLocal Other State Other Federal Direct Grants TOTAL $ $ - 31,133 $ 6,343,572 $ 66,720,909 $ 73,095,614 0.00% 0.04% 8.68% 91.28% 100.00% $ 493 $ 43,620 $ 5,639,005 $ 45,529,971 $ 51,213,089 0.00% 0.09% 11.01% 88.90% 100.00% 0.00% 0.08% 11.29% 88.63% 100.00% $ 100$ 43,132$ 5,959,232$ 46,774,724$ 52,777,188Food Services
Local Food Sales Other State Food Services Federal Food Services
TOTAL
$ 3,383,801 $ 285,232 $ 332,807 $ 36,666,862
$ 40,668,702
8.32% 0.70% .82% 90.16%
100.00%
$ 9,510,027 $ 13,067 $ 340,223 $ 25,132,432
$ 34,995,749
27.17% 0.04% 0.97% 71.82%
100.00%
$ 7,252,554$ 41,112$ 347,188$ 26,355,335
$ 33,996,189
Debt Services
Local Investments
Other
State Other
Federal N/A
TOTAL
$ 164,729
$ -
$ 435,774
$ -
$ 600,503
27.43%
0.00%
72.57%
0.00%
100.00%
28.05%
0.00%
71.95%
0.00%
100.00%
$ 133,368
$ -
$ 342,045
$ -
$ 475,413
General FundLocal Property Taxes Investments Other State FEFP Categoricals Other (Includes Federal Direct Grants TOTAL $ 196,789,468 $ 2,858,818 $ 9,297,195 $ 245,026,986 $ 83,910,092 13,533,232$ 786,547 $ 2,278,768 $ 554,481,106 35.49% 0.52% 1.68% 44.19% 15.13%2.44% 0.14% 0.41%100.00%$ 209,714,803 $ 120,058 $ 11,171,486 $ 262,434,270 $ 82,404,103 $ 4,250,031 $ 769,392 $ 4,068,023 $ 574,932,166 35.61%0.33%1.69%45.55%15.17%0.92%0.10%0.63%100.00%36.48%0.02%1.94%45.65%14.33%0.74%0.13%0.71%100.00%$ 200,038,732$ 1,852,722$ 9,575,351$ 258,418,786$ 86,062,876$ 5,191,854$ 595,095$ 3,576,681$ 567,312,097FY20 FY21FY19FY20FY21FY19FY20FY21FY19
FY20 FY21FY19
21.33% 0.12% 1.02% 77.52%
100.00%
$ 46
$ -
$ 311,712
$ -
$ 311,758
0.01%
0.00%
99.99%
0.00%
100.00%
13
How BPS Is Funded (continued)How Funds Are Spent
Expenditures by Function –
Function classifications indicate the overall
purpose or objective of an expenditure.
FY21 Expenditures –
All Governmental Funds
$797,773,935
14
$451,475,522 56.37%
$ 26,593,525 3.32%
$ 12,365,190 1.54%
$ 40,512,588 5.06%
$ 29,254,855 3.65%
$ 31,958,455 3.99%
$ 7,486,774 0.94%
$ 18,042,615 2.25%
$ 68,868,465 8.60%
$ 1,959,259 0.25%
$ 70,979,149 8.86%
$ 41,361,206 5.17%
$ 800,857,603
$ 463,784,625 58.13%
$ 29,132,349 3.65%
$ 14,892,441 1.87%
$ 40,523,926 5.08%
$ 35,538,045 4.45%
$ 33,097,406 4.15%
$ 6,991,359 0.88%
$ 17,287,235 2.17%
$ 70,884,312 8.89%
$ 6,224,260 0.78%
$ 43,752,638 5.48%
$ 35,665,339 4.47%
$ 797,773,935 100.00%
$450,515,913 60.16%
$ 29,033,313 3.88%
$ 12,084,142 1.61%
$ 39,788,528 5.31%
$ 21,023,916 2.81%
$ 33,474,025 4.47%
$ 7,066,796 0.94%
$ 18,513,777 2.47%
$ 63,097,329 8.43%
$ 1,857,871 0.25%
$ 35,188,247 4.70%
$ 37,207,223 4.97%
$748,851,080
Instruction
Student Support
General Administration
School Administration
Facilities Acquisition
& Construction
Food Services
Central Services
Student Transportation
Operation &
Maintenance of Plant
Community Services
Other Capital Outlay
Debt Service
TOTAL
Land $ 36,311,529
Construction in Progress $ 76,764,592
Improvements Other Than Buildings $ 14,257,257
Buildings and Fixed Equipment $ 665,714,713
Furniture, Fixtures, and Equipment $ 14,789,492
Motor Vehicles $ 13,430,025
AV Materials and Computer Softward $ 199,096
FY21 Capital Assets
TOTAL $ 821,466,704
Salaries $ 338,174,757 58.08%
Employee Benefits $ 105,605,331 18.14%
Purchased Services $ 97,655,841 16.77%
Energy Services $ 14,350,855 2.46%
Materials and Supplies $ 13,437,966 2.31%
Capital Outlay $ 3,897,559 0.67%
Other $ 9,167,098 1.57%
General Fund Expenditures by Object FY21 Due in One Year
TOTAL $ 582,289,407 100.00%
Governmental Funds
Expenditures FY19 FY20 FY21
100.00%100.00%
Instruction
58.13%
Community Services
0.78%
Other
Capital
Outlay
5.48%
Debt Service
4.47%
Operation &
Maintenance
of Plant 8.89%
Student Transportation
2.17%
Central
Services
0.88%
Food Services
4.15%
Fac Acq & Const
4.45%
School
Administration
5.08%
General
Administration
1.87%
Student Support
3.65%
SeminoleOsceolaMarionPascoBrevardDuval
Orange
Lake
Miami-Dade
Hillsborough
Polk
Volusia
67,301 69,378 42,57770,80268,879112,780
212,401
38,099
347,069
190,108
84,234
50,078
$9,898 $10,233 $11,113 $11,175 $11,657 $11,821
$11,859
$11,987
$12,431
$12,975
$13,284
$13,375
$ 666,147,076$ 709,946,823 $ 473,171,389$ 791,183,185$ 802,898,445$ 1,333,202,567
$ 2,518,940,161
$ 456,686,172
$ 4,314,370,000
$ 2,466,617,000
$ 1,118,958,295
$ 669,777,965
Cost Per Student FL School District Counties Gov't-WideExpenses EnrollmentFY20*
Instruction
58.13%
Community Services
0.78%
Other
Capital
Outlay
5.48%
Debt Service
4.47%
Operation &
Maintenance
of Plant 8.89%
Student Transportation
2.17%
Central
Services
0.88%
Food Services
4.15%
Fac Acq & Const
4.45%
School
Administration
5.08%
General
Administration
1.87%
Student Support
3.65%
Seminole
Osceola
Marion
Pasco
Brevard
Duval
Orange
Lake
Miami-Dade
Hillsborough
Polk
Volusia
67,301
69,378
42,577
70,802
68,879
112,780
212,401
38,099
347,069
190,108
84,234
50,078
$9,898
$10,233
$11,113
$11,175
$11,657
$11,821
$11,859
$11,987
$12,431
$12,975
$13,284
$13,375
$ 666,147,076
$ 709,946,823
$ 473,171,389
$ 791,183,185
$ 802,898,445
$ 1,333,202,567
$ 2,518,940,161
$ 456,686,172
$ 4,314,370,000
$ 2,466,617,000
$ 1,118,958,295
$ 669,777,965
Cost Per Student
FL School District Counties Gov't-WideExpenses Enrollment
FY20*
Debt service is discussed in detail later in this report.
Internal Funds are all funds collected by individual schools
through school activities and sources. The funds are used to benefit the students at that school unless collected for
a specific purpose. During FY21, 84 schools operated within Brevard Public Schools (57 elementary, 11 middle, 5 junior/senior, and 11 high). In prior years, these funds were
reported separately as fiduciary funds (held by Brevard Public Schools, but not part of Brevard Public Schools’ funding).
Beginning FY21, with the implementation of Governmental Accounting Standards Board (GASB) Statement 84, Fiduciary Activities, it was determined that these funds are more
appropriately reported as special revenue funds and are no longer reported separately.
*FY21 data for other school districts was not available at time of print.”
Internal Funds
Local
Other
State
N/A
N/A Federal
TOTAL
$ 5,956,800
$ -
$ -
$ 5,956,800
100.00%
0.00%
0.00%
100.00%
$ 9,510,027
$ 13,067
$ 340,223
$ 25,132,432
$ 34,995,749
27.17%
0.04%
0.97%
71.82%
100.00%
$ 7,252,554
$ 41,112
$ 347,188
$ 26,355,335
$ 33,996,189
FY21
21.33%
0.12%
1.02%
77.52%
100.00%
How Funds Are Spent (continued)
Expenditures by Object Code – Object
classifications indicate the type of goods or services
obtained as a result of a specific expenditure.
Salaries –
Amounts paid to employees.
Employee Benefits –
Amounts paid on behalf of employees. This includes
retirement, insurance, and workers’ compensation.
Purchased Services –
Amounts for services by personnel not on the
payroll. Costs include professional and technical
services, repairs and maintenance services, rental
services, and communication services.
Energy Services –
Amounts paid for energy uses such as gas, gasoline,
fuel, heating oil, and electricity.
Materials and Supplies –
Amounts paid for expendable items that are
consumed. Examples are textbooks, repair parts,
tires, and food.
Capital Outlay –
Amounts spent to acquire capital assets or additions
to capital assets. Capital assets include library books,
audiovisual materials, buildings, furniture, fixtures,
equipment, vehicles, land, and software.
Other –
Amounts not classified elsewhere like principal and
interest, dues and fees, claims, and depreciation and
amortization.
1615
Materialsand Supplies2.31%
Energy Services2.46%
Employee Benefits18.14%
Purchased Services
16.77%
Salaries58.08%
Other1.57%Capital Outlay0.67%
$451,475,522 56.37%
$ 26,593,525 3.32%
$ 12,365,190 1.54%
$ 40,512,588 5.06%
$ 29,254,855 3.65%
$ 31,958,455 3.99%
$ 7,486,774 0.94%
$ 18,042,615 2.25%
$ 68,868,465 8.60%
$ 1,959,259 0.25%
$ 70,979,149 8.86%
$ 41,361,206 5.17%
$ 800,857,603
$ 463,784,625 58.13%
$ 29,132,349 3.65%
$ 14,892,441 1.87%
$ 40,523,926 5.08%
$ 35,538,045 4.45%
$ 33,097,406 4.15%
$ 6,991,359 0.88%
$ 17,287,235 2.17%
$ 70,884,312 8.89%
$ 6,224,260 0.78%
$ 43,752,638 5.48%
$ 35,665,339 4.47%
$ 797,773,935 100.00%
$450,515,913 60.16%
$ 29,033,313 3.88%
$ 12,084,142 1.61%
$ 39,788,528 5.31%
$ 21,023,916 2.81%
$ 33,474,025 4.47%
$ 7,066,796 0.94%
$ 18,513,777 2.47%
$ 63,097,329 8.43%
$ 1,857,871 0.25%
$ 35,188,247 4.70%
$ 37,207,223 4.97%
$748,851,080
Instruction
Student Support
General Administration
School Administration
Facilities Acquisition
& Construction
Food Services
Central Services
Student Transportation
Operation &
Maintenance of Plant
Community Services
Other Capital Outlay
Debt Service
TOTAL
Land $ 36,311,529
Construction in Progress $ 76,764,592
Improvements Other Than Buildings $ 14,257,257
Buildings and Fixed Equipment $ 665,714,713
Furniture, Fixtures, and Equipment $ 14,789,492
Motor Vehicles $ 13,430,025
AV Materials and Computer Softward $ 199,096
FY21 Capital Assets
TOTAL $ 821,466,704
Salaries $ 338,174,757 58.08%
Employee Benefits $ 105,605,331 18.14%
Purchased Services $ 97,655,841 16.77%
Energy Services $ 14,350,855 2.46%
Materials and Supplies $ 13,437,966 2.31%
Capital Outlay $ 3,897,559 0.67%
Other $ 9,167,098 1.57%
General Fund Expenditures by Object FY21 Due in One Year
TOTAL $ 582,289,407 100.00%
Governmental Funds
Expenditures FY19 FY20 FY21
100.00%100.00%
Instruction –
Includes activities dealing directly with the
teaching of students, or the interaction
between teachers and students. Also includes
activities related to educational media services,
curriculum, professional or occupational growth
and competence of instructional staff, and
instructional support.
Student Support –
Provides administrative, technical (such as
guidance and health) and logistical support to
facilitate and enhance instruction for the benefit
and well-being of the students. These are
supplemental to instruction to maximize individual
student success.
General Administration –
Includes activities performed by the superintendent
and assistant superintendents in the general
direction and management of school system affairs.
For the purposes of condensing this report, also
includes activities of the school board and board
attorney, activities concerned with fiscal operations
of the school system, and activities related to
supporting the school district’s information
technology systems.
School Administration –
Includes activities concerned with directing and
managing the operation of a particular school.
Facilities Acquisition & Construction –
Includes activities related to the acquisition of land
and buildings, remodeling buildings, construction
of buildings and additions, initial installation or
extension of service systems and other built-in
equipment, and improvements to sites.
Food Services –
Includes activities concerned with providing food
to students and staff.
Central Services –
Includes activities that support the other
instruction and supporting service programs, but
are not considered general administration.
Student Transportation –
Includes activities related to the transportation
of students.
Operation & Maintenance of Plant –
Includes activities that keep a physical plant open,
maintained, and ready for use.
Community Services –
Consists of activities not related to providing
education for students.
Other Capital Outlay –
Expenditures not related to the acquisition and
construction of facilities.
Debt Service –
The recording of expenditures
related to the
issuance and
retirement
of debt.
local capital
funds, were used to construct the new Johnny
Fred Bailey, Sr. Manufacturing
Building for adult education in Cocoa.
Local capital funds (about $70 million) are used for debt service (about 50%) and other capital needs.
In FY21, local capital funds were used for:
• Furniture, fixtures, and equipment for elementary and secondary schools
• New school buses (26)
• Vehicle replacements – warehouse
and maintenance
• Maintenance equipment
• Educational technology support
• Middle school locker room air conditioning
• Additional facility renewal needs
(HVAC, plumbing, site drainage, etc.)
• Program-related facility needs
• Facility accessibility improvements
• Mims cafetorium (construction in FY 21-22)
Looking ahead to FY22, capital funds are planned
to be similarly invested. A cross-functional team reviews capital needs District-wide and recommends
investments to the School Board as part of the
budget development process. In general, the District’s capital investment philosophy is focused on supporting the learning environment and preserving
the value of the District’s capital assets through maintenance and renewal.
Capital assets are any property owned by BPS.
Assets include land, buildings, equipment, vehicles, and software. BPS has more than 100 facilities,
including 84 traditional schools with over 4,200 classrooms. Fifty-two schools are over 50 years old!
Indoor facilities total about 12 million square feet,
which is equivalent to 5,000 homes at 2,400 square feet each. A 2020 facility assessment estimated the
current replacement value of BPS facilities at over $2 billion. The bus fleet includes 466 school buses,
with an average age of 10.1 years. BPS Educational
Technology manages over 80,000 pieces of technology equipment including computers,
servers and related equipment.
In November 2014 Brevard voters passed a six-year
half-cent sales surtax
for facility renewal,
educational
technology, and security.
Through June 2021,
the 2014
sales surtax program has
invested $170.6 million in facility renewal, $14.7 million in security and $26.7 million in
educational technology. Sales surtax investments
in air conditioning total over $120 million through June 2021. The significant renewal of
the air conditioning systems District-wide made a considerable difference in the reliability and safety
of the learning environment for BPS students,
teachers, and administrators.
In November 2020, voters approved a six-year
extension of the half-cent sales surtax. The general framework of the program remains the same, with
revenue programmed for facility renewal (70%), educational technology (15%) and security (15%).
The surtax renewal plan, published on the District’s
web site, was based on detailed assessment of capital needs. The 2020 sales surtax renewal program
includes a broader scope of projects, including classroom upgrades and athletic track renewal. The
2020 sales surtax is legislatively mandated to be
shared with charter schools based on enrollment. The first-year charter school revenue share is
10.141% of total revenue.
The summer 2021 projects included significant work at
several schools with funding from the 2014 and 2020
sales surtax and capital. Major 2021 projects included:
• Saturn Elementary – sewer and water system
renewal, LED lighting, pilot classroom renewal
• Pinewood Elementary – HVAC, classroom walls, canopy renewal
• Mila Elementary – HVAC, LED lighting, paint
• Creel Elementary – classroom walls,
LED lighting, paint
• Stone canopy renewal
• District-wide canopies to portable
classrooms (underway)
Investment in educational technology allows Brevard
Public Schools to be responsive to challenges emerging from the pandemic as well as to move
towards the goal of a 1:1 ratio of devices to students.
Renewal projects are underway for fiber optics, structured cabling, student information systems, and
intercom renewal
Although the sales surtax is the major funding source
for capital improvements for buildings, technology and
security, there are other sources of capital revenue including educational impact fees, local capital millage
and state capital funding. Educational impact fees are used to fund new capacity, such as the planned
Viera High School classroom addition. State capital
funding (about $2.3 million annually) is invested in air conditioning renewal projects. State safety grant
funds, received annually, are used for additional security projects. State one-time funds appropriated
by the Florida Legislature, in combination with 1817
Capital Assets and Sales Surtax
Instruction $ 444,638,779 59.15% $450,515,913 60.16% $451,475,522 56.37%
Student Support $ 25,514,251 3.39% $ 29,033,313 3.88% $ 26,593,525 3.32%
General Administration $ 11,612,033 1.54% $ 12,084,142 1.61% $ 12,365,190 1.54%
School Administration $ 39,265,356 5.22% $ 39,788,528 5.31% $ 40,512,588 5.06%
Facilities Acquisition
& Construction $ 32,840,717 4.37% $ 21,023,916 2.81% $ 29,254,855 3.65%
Food Services $ 31,298,510 4.16% $ 33,474,025 4.47% $ 31,958,455 3.99%
Central Services $ 6,861,277 0.91% $ 7,066,796 0.94% $ 7,486,774 0.94%
Student Transportation $ 18,263,918 2.43% $ 18,513,777 2.47% $ 18,042,615 2.25%
Operation &
Maintenance of Plant $ 56,542,682 7.52% $ 63,097,329 8.43% $ 68,868,465 8.60%
Community Services $ 1,301,345 0.17% $ 1,857,871 0.25% $ 1,959,259 0.25%
Capital Outlay $ 47,411,849 6.31% $ 35,188,247 4.70% $ 70,979,149 8.86%
Debt Service $ 36,129,976 4.81% $ 37,207,223 4.97% $ 41,361,206 5.17%
TOTAL $ 751,680,693 100% $748,851,080 100% $ 800,857,603 100%
Land $ 36,311,529
Construction in Progress $ 55,165,532
Improvements Other Than Buildings $ 12,880,663
Buildings and Fixed Equipment $ 682,954,903
Furniture, Fixtures, and Equipment $ 13,964,554
Motor Vehicles $ 16,576,731
AV Materials and Computer Softward $ 157,533
FY21 Capital Assets
TOTAL $ 818,011,445
Salaries $ 351,712,707 60.48%
Employee Benefits $ 101,637,346 17.48%
Purchased Services $ 91,483,036 15.73%
Energy Services $ 13,195,905 2.27%
Materials and Supplies $ 11,498,977 1.98%
Capital Outlay $ 4,715,051 0.81%
Other $ 7,242,707 1.25%
General Fund Expenditures by Object FY21 Due in One Year
TOTAL $ 581,485,729 100.00%
Governmental Funds Expenditures FY18 FY19 FY20
These 2021 projects had additional
HVAC investments funded primarily
from the 2014 surtax:
• Titusville High
• Gemini Elementary
• Meadowlane Primary
• Meadowlane Intermediate
• Eau Gallie High School
• Jupiter Elementary
• Riviera Elementary
• Manatee Elementary
• Edgewood Jr./Sr. High School
• Cocoa Beach Jr./Sr. High School
Value of Capital Assets (Depreciated)
Long Term Debt (continued)
BOND RATINGS
A bond rating is a letter-based score used to judge the quality and creditworthiness of a bond issuer. Rating agencies assign their ratings based on the financial strength of the District. The higher the
rating, the less risk an investor assumes. The bond rating alerts investors to the quality and stability of the bond and, therefore, influences interest rates, bond pricing, and the number of investors. The Certificate of Participation ratings can differ based on the inherent lack of flexibility to the
security structure.
The three main nationally recognized credit rating agencies are Moody’s, Standard & Poor’s (S&P),
and Fitch. Brevard Public Schools has been given the following bond ratings as of June 30, 2021:
The ratings are defined as:
19
2020 2019 6.086 $ 277,279,313 $ 268,104,518 96.69% $ 45,560,189,476 $ 9,174,795
2019 2018 6.299 $ 266,519,827 $ 258,233,553 96.89% $ 42,311,450,495 $ 8,286,274
2018 2017 6.568 $ 254,858,312 $ 246,937,354 96.89% $ 38,803,031,716 $ 7,920,958
2017 2016 6.916 $ 247,642,967 $ 239,597,480 96.75% $ 35,807,253,742 $ 8,045,487
2016 2015 7.275 $ 241,133,413 $ 233,238,254 96.73% $ 33,145,486,378 $ 7,895,159
2015 2014 7.339 $ 229,213,976 $ 221,801,019 96.77% $ 31,232,317,152 $ 7,412,957
2014 2013 7.606 $ 218,412,465 $ 211,330,700 96.76% $ 28,715,811,876 $ 7,081,765
2013 2012 8.096 $ 222,292,838 $ 215,064,612 96.75% $ 27,457,119,378 $ 7,228,226
2012 2011 8.112 $ 225,611,253 $ 218,109,364 96.67% $ 27,812,038,128 $ 7,501,889
(a) Taxable value equals assessed value less exemptions.
Source: Brevard Public Schools Comprehensive Annual Report for the year ended June 30, 2020
Top ten taxpayers for tax year 2020
Uncollected at 06/30/21
Ba BB BBB B BCaa CCC CCCCa CC CCC C C
Moody's S&P Fitch
Highest Quality
HighQuality
UpperMedium
MediumGrade
Speculative
Aaa AAA AAA
Aa1 AA+ AA+Aa2 AA AAAa3 AA- AA-
A1 A+ A+A2 A AA3 A- A-
Baa1 BBB+ BBB+Baa2 BBB BBBBaa3 BBB- BBB-
Moody's Aa2 Aa3
S&P n/a n/a
Fitch AA AA-
Bonds Certificates of Participation
Certificates of Participation
Bonds
Estimated Claims
Compensated Absences
Other Postemployment Benefits
Net Pension Liability
TOTAL
$ 24,373,653
$ 341,209
$ 8,436,980
$ 4,111,216
$ -
$ -
$ 37,263,058
$ 379,661,136
$ 1,042,430
$ 17,684,429
$ 45,215,955
$ 16,946,793
$ 470,699,579
$ 931,250,322
FY21 Long Term Debt Balance 06/30/21 Due in One Year
FiscalYear Tax Year MillageRate TotalCollected TotalTax Levy Percent Collected TaxableAssessed Value
$ 23,798,689 0.0487%
$ 3,880,300 0.0079%
$ 3,179,999 0.0065%
$ 2,682,802 0.0055%
$ 1,918,702 0.0039%
$ 1,867,789 0.0038%
$ 1,844,076 0.0039%
$ 1,375,231 0.0028%
$ 1,334,882 0.0027%
$ 1,276,664 0.0026%
$ 43,159,134 0.0883%
*Total assessed value for tax year 2020 - all taxpayers $48,852,233,473
1 Florida Power & Light Company
2 L3 Harris Technologies
3 City of Melbourne Airport Authority
4 Plant Oleander Power Project Ltd
5 Steward, LLC
6 Health First Physicians Real & Estate, LLC
7 Brighthouse Networks, LLC
8 AT&T Florida
9 Publix Super Markets, Inc.
10 Cape Caribe, Inc.
TOTAL
Taxpayer NameRank % of Total Asessed Value*Taxable Value (a)
2021 2020 5.942 $ 290,279,971 $ 280,519,297 96.64% $ 48,852,233,473 $ 9,760,674
2020 2019 6.086 $ 277,279,313 $ 268,104,518 96.69% $ 45,560,189,476 $ 9,174,795
2019 2018 6.299 $ 266,519,827 $ 258,233,553 96.89% $ 42,311,450,495 $ 8,286,274
2018 2017 6.568 $ 254,858,312 $ 246,937,354 96.89% $ 38,803,031,716 $ 7,920,958
2017 2016 6.916 $ 247,642,967 $ 239,597,480 96.75% $ 35,807,253,742 $ 8,045,487
2016 2015 7.275 $ 241,133,413 $ 233,238,254 96.73% $ 33,145,486,378 $ 7,895,159
2015 2014 7.339 $ 229,213,976 $ 221,801,019 96.77% $ 31,232,317,152 $ 7,412,957
2014 2013 7.606 $ 218,412,465 $ 211,330,700 96.76% $ 28,715,811,876 $ 7,081,765
2013 2012 8.096 $ 222,292,838 $ 215,064,612 96.75% $ 27,457,119,378 $ 7,228,226
2012 2011 8.112 $ 225,611,253 $ 218,109,364 96.67% $ 27,812,038,128 $ 7,501,889
(a) Taxable value equals assessed value less exemptions.
Source: Brevard Public Schools Comprehensive Annual Report for the year ended June 30, 2020
Top ten taxpayers for tax year 2020
Uncollected at 06/30/21
Ba BB BBB B BCaa CCC CCCCa CC CCC C C
Moody's S&P Fitch
Highest Quality
HighQuality
UpperMedium
MediumGrade
Speculative
Aaa AAA AAA
Aa1 AA+ AA+Aa2 AA AAAa3 AA- AA-
A1 A+ A+A2 A AA3 A- A-
Baa1 BBB+ BBB+Baa2 BBB BBBBaa3 BBB- BBB-
Moody's Aa2 Aa3
S&P n/a n/a
Fitch AA AA-
Bonds Certificates of Participation
Certificates of ParticipationBondsEstimated Claims
Compensated Absences
Other Postemployment Benefits
Net Pension Liability
TOTAL
$ 24,373,653 $ 341,209 $ 8,436,980
$ 4,111,216
$ -
$ -
$ 37,263,058
$ 379,661,136$ 1,042,430$ 17,684,429
$ 45,215,955
$ 16,946,793
$ 470,699,579
$ 931,250,322
FY21 Long Term Debt Balance 06/30/21 Due in One Year
FiscalYear Tax Year MillageRate TotalCollected TotalTax Levy Percent Collected TaxableAssessed Value
$ 23,798,689 0.0487%
$ 3,880,300 0.0079%
$ 3,179,999 0.0065%
$ 2,682,802 0.0055%
$ 1,918,702 0.0039%
$ 1,867,789 0.0038%
$ 1,844,076 0.0039%
$ 1,375,231 0.0028%
$ 1,334,882 0.0027%
$ 1,276,664 0.0026%
$ 43,159,134 0.0883%
*Total assessed value for tax year 2020 - all taxpayers $48,852,233,473
1 Florida Power & Light Company
2 L3 Harris Technologies
3 City of Melbourne Airport Authority
4 Plant Oleander Power Project Ltd
5 Steward, LLC
6 Health First Physicians Real & Estate, LLC
7 Brighthouse Networks, LLC
8 AT&T Florida
9 Publix Super Markets, Inc.
10 Cape Caribe, Inc.
TOTAL
Taxpayer NameRank % of Total Asessed Value*Taxable Value (a)
2021 2020 5.942 $ 290,279,971 $ 280,519,297 96.64% $ 48,852,233,473 $ 9,760,674
Long Term Debt
BPS reported the following long term debt for FY21. Category descriptions are below.
Certificates of Participation – Lease-purchase agreements that allow the District to finance various educational facilities
and equipment over time. The debt is repaid as a portion of the District’s lease payments, which
are funded through local capital improvement and impact fees.
Bonds –
Bonds are issued to investors by the State Board of Education on behalf of the District. The bonds finance capital outlay projects and are secured
by a pledge of the District’s portion of the State-assessed motor vehicle license tax. All servicing
is done by the State Board of Administration.
Estimated Claims – Based on claim adjusters’ and management
evaluation along with actuarial calculations with respect to the probable number and nature of claims (workers’ compensation, general liability,
automobile liability, and medical) arising from losses that have been incurred but have not yet
been reported.
Compensated Absences – Earned vacation and sick leave benefits that are probable to be monetarily compensated to
employees due to resignation or retirement.
Other Postemployment Benefits – Eligible retirees and their dependents may
choose the Brevard School Board’s medical plan that is available to active employees until they
are Medicare eligible. The liability is actuarially calculated and represents the present value of projected benefit payments that are attributed to
the past periods of employee service.
Net Pension Liability – The District’s proportionate share of the
combined net liabilities of the Florida Retirement System Pension Plan and the Retiree Health
Insurance Subsidy Program.
2020 2019 6.086 $ 277,279,313 $ 268,104,518 96.69% $ 45,560,189,476 $ 9,174,795
2019 2018 6.299 $ 266,519,827 $ 258,233,553 96.89% $ 42,311,450,495 $ 8,286,274
2018 2017 6.568 $ 254,858,312 $ 246,937,354 96.89% $ 38,803,031,716 $ 7,920,958
2017 2016 6.916 $ 247,642,967 $ 239,597,480 96.75% $ 35,807,253,742 $ 8,045,487
2016 2015 7.275 $ 241,133,413 $ 233,238,254 96.73% $ 33,145,486,378 $ 7,895,159
2015 2014 7.339 $ 229,213,976 $ 221,801,019 96.77% $ 31,232,317,152 $ 7,412,957
2014 2013 7.606 $ 218,412,465 $ 211,330,700 96.76% $ 28,715,811,876 $ 7,081,765
2013 2012 8.096 $ 222,292,838 $ 215,064,612 96.75% $ 27,457,119,378 $ 7,228,226
2012 2011 8.112 $ 225,611,253 $ 218,109,364 96.67% $ 27,812,038,128 $ 7,501,889
(a) Taxable value equals assessed value less exemptions.
Source: Brevard Public Schools Comprehensive Annual Report for the year ended June 30, 2020
Top ten taxpayers for tax year 2020
Uncollected at 06/30/21
Ba BB BBB B BCaa CCC CCCCa CC CCC C C
Moody's S&P Fitch
Highest Quality
HighQuality
UpperMedium
MediumGrade
Speculative
Aaa AAA AAA
Aa1 AA+ AA+Aa2 AA AAAa3 AA- AA-
A1 A+ A+A2 A AA3 A- A-
Baa1 BBB+ BBB+Baa2 BBB BBBBaa3 BBB- BBB-
Moody's Aa2 Aa3
S&P n/a n/a
Fitch AA AA-
Bonds Certificates of Participation
Certificates of Participation
Bonds
Estimated Claims
Compensated Absences
Other Postemployment Benefits
Net Pension Liability
TOTAL
$ 24,373,653
$ 341,209
$ 8,436,980
$ 4,111,216
$ -
$ -
$ 37,263,058
$ 379,661,136
$ 1,042,430
$ 17,684,429
$ 45,215,955
$ 16,946,793
$ 470,699,579
$ 931,250,322
FY21 Long Term Debt Balance 06/30/21 Due in One Year
FiscalYear Tax Year MillageRate TotalCollected TotalTax Levy Percent Collected TaxableAssessed Value
$ 23,798,689 0.0487%
$ 3,880,300 0.0079%
$ 3,179,999 0.0065%
$ 2,682,802 0.0055%
$ 1,918,702 0.0039%
$ 1,867,789 0.0038%
$ 1,844,076 0.0039%
$ 1,375,231 0.0028%
$ 1,334,882 0.0027%
$ 1,276,664 0.0026%
$ 43,159,134 0.0883%
*Total assessed value for tax year 2020 - all taxpayers $48,852,233,473
1 Florida Power & Light Company
2 L3 Harris Technologies
3 City of Melbourne Airport Authority
4 Plant Oleander Power Project Ltd
5 Steward, LLC
6 Health First Physicians Real & Estate, LLC
7 Brighthouse Networks, LLC
8 AT&T Florida
9 Publix Super Markets, Inc.
10 Cape Caribe, Inc.
TOTAL
Taxpayer NameRank % of Total Asessed Value*Taxable Value (a)
2021 2020 5.942 $ 290,279,971 $ 280,519,297 96.64% $ 48,852,233,473 $ 9,760,674
20
Property Taxes
Property taxes are locally assessed taxes on residential and business real estate. The taxes
fund community agencies and services, including education. The Brevard County Property Appraiser’s office sets the value of each piece of
property located within Brevard County.
The Florida Legislature sets the millage rate, or rate of taxation, for schools. The millage rate is
1/10 of a cent, or one dollar per one thousand dollars of taxable value. The Brevard County Tax Collector’s office collects property taxes less any
allowable exemptions for Brevard County.
Top Ten Taxpayers – Tax Year 2020
(a) Taxable value equals assessed value less exemptions.
Source: Brevard Public Schools Comprehensive Annual Financial Report - year ending June 30, 2021.
Property Tax Levies and Collections – Last Ten Years
2020 2019 6.086 $ 277,279,313 $ 268,104,518 96.69% $ 45,560,189,476 $ 9,174,795
2019 2018 6.299 $ 266,519,827 $ 258,233,553 96.89% $ 42,311,450,495 $ 8,286,274
2018 2017 6.568 $ 254,858,312 $ 246,937,354 96.89% $ 38,803,031,716 $ 7,920,958
2017 2016 6.916 $ 247,642,967 $ 239,597,480 96.75% $ 35,807,253,742 $ 8,045,487
2016 2015 7.275 $ 241,133,413 $ 233,238,254 96.73% $ 33,145,486,378 $ 7,895,159
2015 2014 7.339 $ 229,213,976 $ 221,801,019 96.77% $ 31,232,317,152 $ 7,412,957
2014 2013 7.606 $ 218,412,465 $ 211,330,700 96.76% $ 28,715,811,876 $ 7,081,765
2013 2012 8.096 $ 222,292,838 $ 215,064,612 96.75% $ 27,457,119,378 $ 7,228,226
2012 2011 8.112 $ 225,611,253 $ 218,109,364 96.67% $ 27,812,038,128 $ 7,501,889
(a) Taxable value equals assessed value less exemptions.
Source: Brevard Public Schools Comprehensive Annual Report for the year ended June 30, 2020
Top ten taxpayers for tax year 2020
Uncollected at 06/30/21
Ba BB BBB B BCaa CCC CCCCa CC CCC C C
Moody's S&P Fitch
Highest Quality
HighQuality
UpperMedium
MediumGrade
Speculative
Aaa AAA AAA
Aa1 AA+ AA+Aa2 AA AAAa3 AA- AA-
A1 A+ A+A2 A AA3 A- A-
Baa1 BBB+ BBB+Baa2 BBB BBBBaa3 BBB- BBB-
Moody's Aa2 Aa3
S&P n/a n/a
Fitch AA AA-
Bonds Certificates of Participation
Certificates of Participation
Bonds
Estimated Claims
Compensated Absences
Other Postemployment Benefits
Net Pension Liability
TOTAL
$ 24,373,653
$ 341,209
$ 8,436,980
$ 4,111,216
$ -
$ -
$ 37,263,058
$ 379,661,136
$ 1,042,430
$ 17,684,429
$ 45,215,955
$ 16,946,793
$ 470,699,579
$ 931,250,322
FY21 Long Term Debt Balance 06/30/21 Due in One Year
FiscalYear Tax Year MillageRate TotalCollected
TotalTax Levy Percent Collected TaxableAssessed Value
$ 23,798,689 0.0487%
$ 3,880,300 0.0079%
$ 3,179,999 0.0065%
$ 2,682,802 0.0055%
$ 1,918,702 0.0039%
$ 1,867,789 0.0038%
$ 1,844,076 0.0039%
$ 1,375,231 0.0028%
$ 1,334,882 0.0027%
$ 1,276,664 0.0026%
$ 43,159,134 0.0883%
*Total assessed value for tax year 2020 - all taxpayers $48,852,233,473
1 Florida Power & Light Company
2 L3 Harris Technologies
3 City of Melbourne Airport Authority
4 Plant Oleander Power Project Ltd
5 Steward, LLC
6 Health First Physicians Real & Estate, LLC
7 Brighthouse Networks, LLC
8 AT&T Florida
9 Publix Super Markets, Inc.
10 Cape Caribe, Inc.
TOTAL
Taxpayer NameRank % of Total Asessed Value*Taxable Value (a)
2021 2020 5.942 $ 290,279,971 $ 280,519,297 96.64% $ 48,852,233,473 $ 9,760,674
2020 2019 6.086 $ 277,279,313 $ 268,104,518 96.69% $ 45,560,189,476 $ 9,174,795
2019 2018 6.299 $ 266,519,827 $ 258,233,553 96.89% $ 42,311,450,495 $ 8,286,274
2018 2017 6.568 $ 254,858,312 $ 246,937,354 96.89% $ 38,803,031,716 $ 7,920,958
2017 2016 6.916 $ 247,642,967 $ 239,597,480 96.75% $ 35,807,253,742 $ 8,045,487
2016 2015 7.275 $ 241,133,413 $ 233,238,254 96.73% $ 33,145,486,378 $ 7,895,159
2015 2014 7.339 $ 229,213,976 $ 221,801,019 96.77% $ 31,232,317,152 $ 7,412,957
2014 2013 7.606 $ 218,412,465 $ 211,330,700 96.76% $ 28,715,811,876 $ 7,081,765
2013 2012 8.096 $ 222,292,838 $ 215,064,612 96.75% $ 27,457,119,378 $ 7,228,226
2012 2011 8.112 $ 225,611,253 $ 218,109,364 96.67% $ 27,812,038,128 $ 7,501,889
(a) Taxable value equals assessed value less exemptions.
Source: Brevard Public Schools Comprehensive Annual Report for the year ended June 30, 2020
Top ten taxpayers for tax year 2020
Uncollected at 06/30/21
Ba BB BBB B BCaa CCC CCCCa CC CCC C C
Moody's S&P Fitch
Highest Quality
HighQuality
UpperMedium
MediumGrade
Speculative
Aaa AAA AAA
Aa1 AA+ AA+Aa2 AA AAAa3 AA- AA-
A1 A+ A+A2 A AA3 A- A-
Baa1 BBB+ BBB+Baa2 BBB BBBBaa3 BBB- BBB-
Moody's Aa2 Aa3
S&P n/a n/a
Fitch AA AA-
Bonds Certificates of Participation
Certificates of Participation
Bonds
Estimated Claims
Compensated Absences
Other Postemployment Benefits
Net Pension Liability
TOTAL
$ 24,373,653
$ 341,209
$ 8,436,980
$ 4,111,216
$ -
$ -
$ 37,263,058
$ 379,661,136
$ 1,042,430
$ 17,684,429
$ 45,215,955
$ 16,946,793
$ 470,699,579
$ 931,250,322
FY21 Long Term Debt Balance 06/30/21 Due in One Year
FiscalYear Tax Year MillageRate TotalCollected TotalTax Levy Percent Collected TaxableAssessed Value
$ 23,798,689 0.0487%
$ 3,880,300 0.0079%
$ 3,179,999 0.0065%
$ 2,682,802 0.0055%
$ 1,918,702 0.0039%
$ 1,867,789 0.0038%
$ 1,844,076 0.0039%
$ 1,375,231 0.0028%
$ 1,334,882 0.0027%
$ 1,276,664 0.0026%
$ 43,159,134 0.0883%
*Total assessed value for tax year 2020 - all taxpayers $48,852,233,473
1 Florida Power & Light Company
2 L3 Harris Technologies
3 City of Melbourne Airport Authority
4 Plant Oleander Power Project Ltd
5 Steward, LLC
6 Health First Physicians Real & Estate, LLC
7 Brighthouse Networks, LLC
8 AT&T Florida
9 Publix Super Markets, Inc.
10 Cape Caribe, Inc.
TOTAL
Taxpayer NameRank % of Total Asessed Value*Taxable Value (a)
2021 2020 5.942 $ 290,279,971 $ 280,519,297 96.64% $ 48,852,233,473 $ 9,760,674
The sky is the limit
contact us
2221
Grace Peters
Age 17, 12 th grade, West Shore Jr/Sr High School
What do you want to do in aerospace when you graduate colle
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I want to be an engineer and work in the space industry. I
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fascinating to work with rockets and satellites. I’d love to
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explore the rest of space, there’s so much out there and I’d lov
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What makes you excited about this career?
Working with spacecraft is really interesting. Aerospace eng
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new field and there’s so much to learn.
What has your time in Brevard Public Schools done to help y
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journey to your future?
The classes and teachers I’ve had have gotten me interested
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engineering field. The opportunities Brevard Public Schools
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also been beneficial, like going to the Kennedy Space Center
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elementary school.
How important is the quality of education you receive when
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growing up in a place like the Space Coast?
My education is incredibly important but I’ve been given ma
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opportunities here in the space coast. It’s been a great foun
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space, and physics that I can take with me into my career.
What would you want to do if you worked for NASA?
I’d love to work as an engineer and work on rockets. It’s a fas
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because these rockets would be able to get us to far off plac
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And we learn something new about us and our universe each
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Jeremiah SessionAge 11, 5th grade, Palm Bay Elementary School
What do you want to do in aerospace when you grow up?I love the idea of computer engineering and creating computer m
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picturing myself creating models of aircraft- that can fly to any
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What makes you excited about this career?This career combines my three favorite things with my favorite sci
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My top hobbies are coding, creating and building, and I love the t
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What kinds of things do you think you would do in space?I think it looks like it would be fun to eat in space! I watched a doc
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about astronauts on the International Space Station. They were
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their food before they ate it. I learned astronauts need to sleep in
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keep them still; that seems fun. I would love to go out on a spac
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whether to do repairs or just admire the scenery of earth.
What would you want to do if you worked for NASA?If I work for NASA in the future, I want to build spaceships. I want
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something totally new, like a giant Amazon delivery van that goes t
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space station or the moon.
What has you excited about aerospace?I am excited about aerospace because it makes me wonder. I wond
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am I looking up or looking straight forward? I know it depends on t
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I’m at on earth at the time. I wonder what it’s like to be up there,
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weightless. It looks peaceful, seems beautiful. What I’m seeing is
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small fragment. We don’t know what’s out there until we find out!
contact us BREVARD PUBLIC SCHOOLS
2700 Judge Fran Jamieson Way | Viera, FL | 32940-6601 | 321-633-1000
The information contained in this Popular Annual Financial Report was compiled by the Financial Services division in coordination with Government & Community Relations. Any individual who wishes to review the full disclosure financial statements can obtain a copy of the Annual Comprehensive Financial Report (ACFR) through the Accounting Services section of the Brevard Public Schools’ website at www.brevardschools.org.
For questions, comments, or suggestions related to this report please contact 321-633-1000 extension 11660.
It is the policy of Brevard Public Schools not to discriminate on the basis of race, color, national origin, gender, limited
English proficiency, or handicapping condition(s) in its programs.