FSBA, often in partnership with other state education entities, has established a variety of financial programs and services to assist school districts with financial management, investments, employee benefits, purchasing, and other cost saving measures.
The Florida Education Investment Trust Fund (FEITF) provides school districts an opportunity to participate in a mutual investment pool that is designed to meet the cash management and short-term investment needs of school districts. FSBA and the Florida Association of District School Superintendents (FADSS) sponsor the Fund. The Fund’s investment objective is to provide Participants with the highest possible investment yield, while maintaining liquidity and preserving capital.
The Independent Benefits Council (IBC) is a not-for-profit organization formed in 2007 by four of Florida’s leading education groups — FSBA, the Florida Education Association (FEA), the Florida Association of School Administrators (FASA), and the Florida Association of District School Superintendents (FADSS). The IBC works on employee benefits issues for which a statewide approach would likely benefit public school employees and employers, compared with district-by-district action. Together, these organizations represent the interests of more than 350,000 of the state’s teachers and education staff professionals. Projects of the IBC are only undertaken with the unanimous support of the four organizations.
The Florida Education Purchasing Consortium (FEPC) is an administrative entity created by FSBA and FADSS to provide school districts and public entities an opportunity to jointly participate in a cooperative purchasing program to maximize savings on the purchase of materials and services. The Consortium is intended to improve pricing, quality, service, and responsiveness from the vendors who seek to do business with Florida school districts.
The FSBA Lease Purchase Program is designed to provide school districts with another option for building schools with tax exempt bonds. The Program allows local school boards to lease-purchase facilities and for buyers of the bonds to have their income tax exempt. This attractive financing program enables school districts to finance and build large numbers of schools at today’s market prices. This opportunity can be provided by a vote of the school board.