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PUBLIC SCHOOL FINANCE UPDATE January, 2012

This update provides information on the Governor's budget request and revised budget request for the 2012-13 fiscal year in public school finance. It includes timelines, assumptions, student counts, assessed values, and specific ownership tax details. Review district-by-district comparisons and contact us for any clarification needed.

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PUBLIC SCHOOL FINANCE UPDATE January, 2012

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  1. PUBLIC SCHOOL FINANCE UPDATEJanuary, 2012 Leanne Emm Assistant Commissioner 303-866-6202 emm_l@cde.state.co.us

  2. Governor’s Budget Request 2011-12 Supplemental Request 2012-13 Revised Budget Request Agenda

  3. Timeline • November – working off of two years estimates • Late December – actual students, assessed values, specific ownership, December forecast • Early January - Supplemental and Budget Amendments based on more current information and estimates

  4. October 2011 Pupil Counts Actual Assessed Values & Specific Ownership Tax Supplemental Budget Request submitted to fund increased student counts Assumes no increase in the negative factor amount Actual 2011-12

  5. Actual – 2011-12 *Subject to Legislative Approval

  6. Joint Budget Committee approved the drafting of the supplemental budget request into bill form Bill will be reviewed Wednesday, Jan 25 Will be introduced to House & Senate WILL STILL NEED TO PASS!! 2011-12 Supplemental Budget Request

  7. Revised AssumptionsFY2012-13 Budget Request • Actual assessed values higher than anticipated however not as good as preliminary estimates • Actual decline of 5.39% statewide • Increased local share $24.2 million for 2011-12 • Property Tax +$33.14 million • SOT -$8.96 million • For 2012-13, revised estimated growth in local share of $24.1 million • Increased student count estimates

  8. Revised AssumptionsFY2012-13 Budget Request Late February 2012 – actual inflation

  9. AssumptionsFY2012-13 Budget Request • $67.5 million through SB11-230 • For FY2011-12, intent to be used for mid-year changes in enrollment or assessed values • Request for FY2012-13 utilizes these funds to offset any needed increases in negative factor • NOTE: this assumption is still in place for 2012-13

  10. FY2012-13 Budget Request

  11. Compare FY2011-12 and FY2012-13 *Subject to Legislative Approval

  12. Compare FY2011-12 and FY2012-13 *Subject to Legislative Approval

  13. FY2012-13 Revised Budget Request

  14. Revised FY2012-13 Budget Request

  15. The actual funded Total Program has declined 7.2% from the high in 2009-10. Gap represents negative factor of 17.6% *Subject to Legislative Approval

  16. FY2012-13 Budget Request **Subject to Legislative Approval

  17. Where are we? • Supplemental Appropriation Bill will be introduced within next few days • The Supplemental Bill also provides a starting point for 2012-13 • Figure Setting – JBC • School Finance Act will be introduced • USE THESE NUMBERS AS A STARTING POINT FOR 2012-13

  18. Review District by DistrictComparison • Spreadsheet posted on School Finance Website: • http://www.cde.state.co.us/cdefinance/SchoolFinanceFundingFY2012-13.htm • Column AF is estimated year over year change • Column AK is estimated change in per pupil funding

  19. REMINDER • Numbers are subject to change – we are very early in the legislative session. • Contact us for any clarification needed.

  20. Questions & Evaluation

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