PUBLIC SCHOOL FINANCE UPDATE

January, 2012

Leanne Emm Assistant Commissioner

303-866-6202emm_l@cde.state.co.us

Agenda

• Governor’s Budget Request

– 2011-12 Supplemental Request

– 2012-13 Revised Budget Request

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

Actual 2011-12• 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 – 2011-12Original

AppropriationActual

2011-12*Change (with

Supplemental)*

Funded Pupils 805,891 808,195 2,304

At-Risk Pupils 288,017 292,606 4,589

Total Program Prior to Negative Factor

$5,987,109,016 $6,006,861,965 $19,752,949

Negative Factor ($774,414,342) ($774,414,342) -0-

Total Program After Negative Factor

$5,212,694,674 $5,232,447,623 $19,752,949

Average Per Pupil Funding

$6,468.24 $6,474.24 $6.00

*Subject to Legislative Approval

2011-12 Supplemental Budget Request

• 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!!

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

Revised AssumptionsFY2012-13 Budget Request

Estimated Change

Total

Pupil Growth 8,990 817,185

At-Risk Growth 3,326 295,932

Inflation Estimate 3.5% NA

Base Per Pupil Funding

$197.22 $5,831.99

Late February 2012 – actual inflation

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

FY2012-13 Budget Request

Compare FY2011-12 and FY2012-13

*Subject to Legislative Approval

*Subject to Legislative Approval

Compare FY2011-12 and FY2012-13

FY2012-13 Revised Budget Request

Changes in Total Program Revised Request

REVISED Funded Pupils 817,185

REVISED Estimated Growth and Inflation – not funded

$279,266,520

REVISED Budget Balancing Measure – year over year reduction $48,414,048

REVISED Total that Represents the Increase in the Negative Factor $327,680,568

Revised FY2012-13 Budget Request

*Subject to Legislative Approval

Gap represents negative factor of 17.6%

The actual funded Total Program has

declined 7.2% from the high in

2009-10.

FY2012-13 Budget Request Actual Funded Total Program*

Change from Prior Year

Cumulative Change

Funded Pupils

Average Per Pupil

Funding

2008-09Actual

$5,347,325,784 NA NA 778,136 $6,872

2009-10Actual

$5,586,087,039 $238,761,255 $238,761,255 789,497 $7,076

2010-11Actual

$5,439,939,345 ($146,147,693) $92,613,561 798,600 $6,812

2011-12 With Supplemental**

$5,232,447,623 ($207,491,722) ($114,878,160) 808,195 $6,474

2012-13 REVISED Budget Request

$5,184,033,575 ($48,414,048) ($163,292,209) 817,185 $6,343

% Change from Prior Year -.93% -.93 NA 1.11% -2.02%

*Includes effects of rescissions and legislative actions.

**Subject to Legislative Approval

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

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

REMINDER

• Numbers are subject to change – we are very early in the legislative session.

• Contact us for any clarification needed.

Questions & Evaluation