Transcript PUBLIC SCHOOL FINANCE UPDATE Governor ’s Budget Request 2013-14 Lea nne Emm A s s i s tant Co mmi s s i one r 3

PUBLIC SCHOOL FINANCE
UPDATE
Governor ’s Budget Request
2013-14
Lea nne Emm
A s s i s tant Co mmi s s i one r
3 0 3 -866-6202
e mm_ l @ cd e .s tate. co .us
Agenda
Annual Audits, Accreditation Report &
Financial Transparency - Reminders
Governor’s Budget Request
Annual Audits,
Accreditation Report &
Financial Transparency
Annual Audits – June 30, 2012
 Present to your Board of Education by
November 30
 Postmarked audited financial statements
& Accreditation Report
CDE and State Auditors Office by December 31
ADE Submission by December 31
 Requests for extensions must be made
before December 31
FY2011-12 Accreditation Report
New Questions
 Unreserved Fund Balance
 Software Vendor Contact Information
 REMINDER: No longer need to submit hard
copies of the collective bargaining
agreement – post them online – HB121240
Financial Transparency Act
Article 44 of Title 22, C.R.S. Part 3
HB10-1036 directs local education providers
(LEP) to post financial information on-line, in a
downloadable format, for free public access .
 LEP is defined as:
A School District
A Board of Cooperative Services (BOCES)
A Charter School Institute
A District Charter School
An Institute Charter School
Financial Transparency Act
Required Documents
 Annual Budgets
 District Budget Document
 Uniform Budget Summary Sheet
 Financial Audit
 Quarterly Financial Statements
 Salary Schedules or Policies
 Accounts Payable Check Registers
 Credit, Debit and Purchase Card Statements
 Investment Performance Reports
Financial Transparency Act
Compliance Timeline
Update information within 60 days
 Completion of report, statements, applicable
information
 For example
 Budget Posted by August 30 if adopted June 30
Financial Transparency Act
 Not required to post
 personal information relating to payroll
 other information that is confidential or
protected from public disclosure pursuant to
state or federal law
 Examples: HIPPA; IDEA or Homeless payments
to individuals
Financial Transparency Act
The current and prior two budget
years’ financial information must
be maintained on-line until the
end of the current budget year.
Governor’s Budget Request
2013-14
State of Colorado
General Fund - $7.88 Billion
2013-14 - Governor's Budget Proposal
Other Departments,
$841.5, 11%
Health Care Policy and
Financing, $2031.8,
26%
Human Services,
$680.1, 9%
Higher Education,
$656.7, 8%
Education (K-12),
$3016.9, 38%
Source: Governor’s Transmittal Letter –
November 1, 2012
Corrections, $655.6,
8%
in millions
Assumptions
FY2013-14 Budget Request
Estimated
Change
Total
Pupil Growth
8,592
825,813
At-Risk Growth
3,494
299,427
Inflation Estimate
2.2%
NA
$128.55
$5,971.81
Base Per Pupil Funding
Late February 2013 – actual inflation
Assumptions
FY2013-14 Budget Request
Negative factor amount the same as
2012-13
Negative factor percent changes from
16.11% to 15.6%
Slight increase in local share
Statewide average per pupil funding
Increase of $185.12 to $6,659
Assumptions
FY2013-14 Budget Request
Assumed better revenues from 2012-13
Increases in amount available to
transfer to State Education Fund
All increases to school funding coming
from State Education Fund
FY2013-14 Budget Request
Revised
2012-13
Appropriation
2013-14
Request
Change
Total Program prior to
Negative Factor
(Growth & Inflation)
$6,302,403,884
$6,510,905,288
$208,501,404
Negative Factor
(1,011,518,997)
(1,011,518,997)
(0)
Revised Total Program
$5,280,884,887
$5,499,386,291
$208,501,404
-16.11%
-15.60%
.51%
Negative Factor
Percentage
2013-14 Governor's Budget Request
Total Program Funding - School Finance Act
$5.499 Billion
Other State Funds,
$514.2 , 10%
Property Tax,
$1,791.7 , 34%
State General Fund,
$2,852.3 , 54%
in millions
Specific Ownership,
$132.7 , 2%
Compare FY2012-13 Appropriation to
FY2013-14 Budget Request
2012-13
Original
Appropriation
2013-14
Request
Change
State Share
$3,366,460,619
$3,562,461,024
$196,000,405
Local Property Tax
$1,791,693,618
$1,804,194,617
$12,500,999
$132,730,650
$132,730,650
$0
$5,290,884,887
$5,499,386,291
$208,501,404
Specific Ownership
Tax
Total
State of Colorado
Total Program Funding
in millions
Gaps represent rescissions and
legislative actions.
$6,000.0
Gap represents negative factor
of 15.60% or $1.01 Billion
$5,000.0
The actual funded
Total Program has
declined 1.5% from
the high in 2009-10.
$4,000.0
$3,000.0
$2,000.0
$1,000.0
$000.0
2008-09
Actual
2009-10
Actual
2010-11
Actual
2011-12
Actual
2012-13
Final
Budget
2013-14
Governor's
Budget
Request
Total Program Prior to Legislative Actions
$5,354.8
$5,717.3
$5,822.3
$6,006.9
$6,302.4
$6,510.9
Total Program Less Rescissions
/Legislative Actions
$5,347.3
$5,586.1
$5,439.7
$5,232.4
$5,290.9
$5,499.4
2012-13 Appropriated Total Program Funding by
Component, With and Without Negative Factor
At-Risk,
$303
All Other
Factors, $608
Other,
$126
Size, $273
COL, $917
Negative
Factor $1,012
Base,
$4.683
Total Program Funding:
$6.302 billion
Iin millions
Base,
$4.683
Total Program Funding:
$5.291 billion
Hold-Harmless Kindergarten
Funding
 Governor’s proposal eliminates this funding
 $6.9 million
 59 districts
 Funding used to increase supplemental full-day
kindergarten factor
 .08 to .097
 Kindergarten counted as .597 for 2013-14
 All districts
Early Education Funding
 Focus on expanding ECE opportunities to at -risk
students
 Transfer of $70 per funded at-risk student within
the district’s books
 Transfer optional for districts with +/- 10% of 200
 Similar to previous requirement of transfer to
Capital Reserve/Risk Management
 Financial Policies and Procedures Committee will be
utilized to determine best method of recording
Quality Teacher Pipeline
 $3.64 per funded student withheld from all
districts
 Creates $3.0 million to fund initiative
 Provides incentive payments to teachers
working in hard to serve rural districts or high
poverty areas
FY2013-14 Budget Request
Actual Funded
Total Program*
Change from
Prior Year
Cumulative
Change
Funded
Pupils
Average Per
Pupil
Funding
2008-09 Actual
$5,347,325,784
NA
NA
778,136
$6,872
2009-10 Actual
$5,586,087,039
$238,761,255
$238,761,255
789,497
$7,076
2010-11 Actual
$5,439,939,345
($146,147,693)
$92,613,561
798,600
$6,812
2011-12 Actual
$5,232,447,624
($207,491,722) ($114,878,160)
808,195
$6,474
2012-13
Appropriation
$5,290,884,887
$58,437,263
($56,440,897)
817,221
$6,474
2013-14 Governor’s
Budget Request
$5,499,386,291
$208,501,404
$152,060,507
825,813
$6,659
3.94%
3.94%
1.05%
2.86%
% Change from Prior
Year
*includes effects of rescissions and legislative actions
NA
General Planning
 Recommend reviewing Property Tax Collections
 Is your percentage of collections remaining strong?
 Is it declining or increasing? Delinquencies?
 Remember – the State assumes 100% collections when
setting Total Program
 If you have less than 100% - your budget should reflect
this
 Pupil Enrollment
Upcoming
 Pupil Counts and Assessed Values
 Finalized in December
 Mill Levies & any adjustments to AVs
 January/February
 Supplemental Budget Request Submitted based
revised counts, AVs, mills
 February
 Long Bill, School Finance Act
 2013 Legislative Session
Upcoming Training Sessions
 BEST
 Construction project delivery methods – Wednesday,
November 28 th , 10:00AM
 Owner’s representatives – December, TBA
Questions?