Colorado School Finance Project 2/17/2017 Hitting the Base Glenn McClain, Platte Valley SD Superintendent & Glenn Gustafson, Colorado Springs D-11 Deputy Superintendent/Chief Finance Officer 1 Amendment 23 Language Shall there be an amendment to the Colorado Constitution concerning increased funding for preschool through twelfth-grade public education, and, in connection therewith, requiring the statewide base per pupil funding for public education and funding for specifically defined categorical programs to grow annually by at least the rate of inflation plus one percentage point for fiscal years 2001-02 through 2010-11 and annually by at least the rate of inflation for fiscal years thereafter; 2 1
Colorado School Finance Project 2/17/2017 Basic School Finance Total Program Funding • Total Program Calculation – Per-Pupil Revenue x Pupil Count • Total Program Components – Property Taxes – Specific Ownership Taxes (Yeah Hail!) – State Equalization 3 Basic School Finance Per-Pupil Revenue (FY 16-17) • Base Funding $6,367.90 • Cost of Living Factor 1.205 • District Size Factor 1.0297 • Personnel Cost Factor 90.50% • Non-personnel Costs 9.50% Subtotal $7,772.73 • At Risk Factor 512.32 • Negative Factor -953.96 PPR $7,331.12 4 2
Colorado School Finance Project 2/17/2017 Relative State and Local Shares of School Finance, 1983 to FY 2015-16 70% State Share 66% 57% General Fund and 60% State Education Fund 50% Local Share Mostly Property Taxes Mill Levy Freeze 40% 43% 34% TABOR Am. 23 30% 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 Note: Prior to 1993, K-12 funding was done on a calendar year basis. State What the General Fund Pays For Share FY 2015-16 Human Services Other 9% 6% K-12 Education 37% Health Care 26% FY 2015-16 General Fund Operating Budget $9.6 billion Judicial Higher 5% Education Corrections 9% 8% 3
Colorado School Finance Project 2/17/2017 9 Colorado State Budget Caseload Growth & the General Fund Budget 360 Medicaid Caseload State Share School Finance 310 Higher Education Enrollment Index FY 01 = 100 Inflation 260 CO Population K-12 Enrollment 210 General Fund Operating Appropriations General Fund Revenue 160 110 60 FY FY FY FY FY FY FY FY FY FY FY FY FY FY 01 02 03 04 05 06 07 08 09 10 11 12 13 14 Sources: Colorado Department of Education, U.S. Census Bureau, & Bureau of Labor Statistics, and JBC Staff. 4
Colorado School Finance Project 2/17/2017 Colorado Negative Factor History Negative Factor -- 2016-17: $830M -- 2015-16: $830M – 2014-15: $880M – 2013-14: $1.004B – 2012-13: $1.001B – 2011-12: $774M – 2010-11: $381M What does this mean for school districts? • State leaders warn of increasing negative factor • 9 School Finance Scenarios Going Forward State Share Total Program Funding Projections Local Share LCS December 2015 Revenue Forecast Billions of Dollars $8 JBC Staff Recommendation $40.8M one-time increase in Eliminate negative factor negative factor $7 Current law: constant $830.7M negative factor $6 Current funding level $5 FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 5
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