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July 28, 2022

Welcome to the 2nd annual �Colorado School Finance Project Conference

Investment in Action

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September 21, 2022�Conference 8:00 am - 4:00 pm�Happy Hour 4:30 pm - 6:00 pm

�The Charter at Beaver Creek�120 Offerson Rd, Beaver Creek, CO, 81620

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CSFP CONFERENCE�Issues on the Horizon�September 21, 2022

Tracie Rainey, Executive Director

Colorado School Finance Project

September 21, 2022

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September 21,, 2022

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Colorado School Finance Project

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September 21, 2022

Non-profit, non-partisan- Supported by school district contributions- School finance analysis for local and state policy makers since 1995- Governed by a board comprised of national and state experts on school finance

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Our Mission: To compile, collect and distribute research-based, non-partisan information and data on topics related to school finance for state and local policymakers.

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What’s on the horizon? What can the state afford to pay for K-12?

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September 21, 2022

Economy

  • 3rd quarter forecast tomorrow
  • Are we growing or have conditions slowed growth?

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Inflation

  • Averaging by quarter – running at 8% so far
  • State needs $650-$750 million just for inflation for K-12 (this doesn’t include enrollment changes)
  • This keeps B/S factor same

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Tabor

  • Are there rebates?

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2022 impacts for school districts

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September 21, 2022

  • Student Count
  • Supplemental Process
  • UPK
  • Interim Committee
  • At-risk changes
  • Mill levy correction
  • Mill levy match
  • Property tax changes/valuation
  • November Elections

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Student Count and Supplemental Process������

  • How is your enrollment? Up, down, close to your budget?

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  • How is your at-risk count?

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Supplemental will adjust for these items in addition to local property tax changes – work with your county

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September 21, 2022

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Universal Pre-K update

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September 21, 2022

  • Service to begin for all 4-year-olds in Fall 2024
    • 10 - 20 hours a week – rate setting in process – districts will incur costs
  • UPK student count will be removed from K-12 count and total program funding will be impacted
  • Every district part of an LCO - Find my LCO

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Interim Committee on School Finance������

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  • 2021 – at-risk definition expanded, working group to determine a new formula – includes broader characteristics of income wealth, Medicaid, SNAP, FRL.
  • ELL – added to formula with .08 funding (categorical funding remains)
  • SPED Funding increased by $80 million – (SB22-127) - Study being done by West Ed on costs

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September 21, 2022

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Interim Committee on School Finance������

Topics remaining for discussion:

  • Enrollment averaging
  • Size of school district – remote issues
  • Cost of Living – what is the % amount that should be weighted?

Topics not being discussed:

  • What does it cost to educate a student
  • Does rearranging the dollars solve the fact that we are $3000 below national average?

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September 21, 2022

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What could “modernizing” the formula look like? ������

  1. Costing Out Analysis? – this determines the base and weights needed for students to meet state standards
  2. What are the state’s tax policy goals for the split between state and local contributions?
  3. Address district size in the student characteristics
  4. Address Cost of living with cost of doing business and a wage index

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September 21, 2022

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November and December������

  • Governor's Budget – Nov 1-foreshadows 2023 session
  • Election Outcomes – impacts on general fund – potentially lowering income tax – will put more pressure on general fund – harder to fund K-12
  • Revenue forecast – December
  • Local share changes – mill certifications- local revenue impacts

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September 21, 2022

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Mill Levies������

  • Certification in December
  • Total Program Mills – every district
  • Bond
  • Override
  • Mill Levy Correction – if you have a tax credit – until that is 0 – you will increase 1 mill annually
  • Mill Levy Match – intent is to help districts with low AV wealth and low income have an opportunity to have state funding if there is local funding.

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September 21, 2022

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Questions?������

  • Add questions or comments to the wall
  • Contact me at: t.rainey@cosfp.org
  • Website is a wealth of information

www.cosfp.org

  • Follow us on Facebook and Twitter

Attend our monthly meetings – schedule on your brochure

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September 21, 2022