PUBLIC SCHOOL FINANCE UPDATE January, 2012 Leanne Emm Assistant Commissioner 303-866-6202 [email protected] Agenda • Governor’s Budget Request – 2011-12 Supplemental Request – 2012-13 Revised Budget Request.
Download ReportTranscript PUBLIC SCHOOL FINANCE UPDATE January, 2012 Leanne Emm Assistant Commissioner 303-866-6202 [email protected] Agenda • Governor’s Budget Request – 2011-12 Supplemental Request – 2012-13 Revised Budget Request.
PUBLIC SCHOOL FINANCE UPDATE January, 2012 Leanne Emm Assistant Commissioner 303-866-6202 [email protected] 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 – 2011-12 Original Appropriation Actual 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 Assumptions FY2012-13 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 Assumptions FY2012-13 Budget Request Estimated Change Total Pupil Growth 8,990 817,185 At-Risk Growth 3,326 295,932 Inflation Estimate 3.5% NA $197.22 $5,831.99 Base Per Pupil Funding Late February 2012 – actual inflation Assumptions FY2012-13 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 ORIGINAL 2012-13 Request REVISED 2012-13 Request Change Total Program prior to Negative Factor (Growth & Inflation) $6,248,516,540 $6,286,128,485 $37,611,945 Negative Factor (1,123,773,467) (1,102,094,910) 21,678,557 Revised Total Program $5,124,743,073 $5,184,033,575 $59,290,502 -18.04% -17.60% .44% $6,306.69 $6,343.77 $37.08 Negative Factor Percentage Average Per Pupil Funding Compare FY2011-12 and FY2012-13 Actual 2011-12 with Supplemental Funding* REVISED 2012-13 Request Change Total Program prior to Negative Factor (Growth & Inflation) $6,006,861,965 $6,286,128,485 $279,266,520 Negative Factor (774,414,342) (1,102,094,910) (327,680,568) $5,232,447,623 $5,184,033,575 ($48,414,048) -12.94% -17.60% -4.66% $6,474.24 $6,343.77 ($130.47) Revised Total Program Negative Factor Percentage Average Per Pupil Funding *Subject to Legislative Approval Compare FY2011-12 and FY2012-13 Actual 2011-12 with Supplemental Funding* REVISED 2012-13 Request Change from Revised to Request State Share $3,331,922,155 $3,259,359,720 ($72,562,435) Local Property Tax 1,771,660,759 1,791,666,136 20,005,377 Specific Ownership Tax 128,864,709 133,007,719 4,143,010 $5,232,447,623 $5,184,033,575 Total *Subject to Legislative Approval ($48,414,048) FY2012-13 Revised Budget Request Changes in Total Program REVISED Funded Pupils REVISED Estimated Growth and Inflation – not funded Revised Request 817,185 $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 2012-13 REVISED Budget Request Total Program Funding - School Finance Act $5,184.0Billion Other State Funds, $520.51, 10.0% Property Tax, $1,791.67, 34.6% State General Fund, $2,738.85, 52.8% Specific Ownership, $133.01, 2.6% in millions Revised FY2012-13 Budget Request ORIGINAL 2012-13 Request State Share (109,647,723) REVISED 2012-13 Request Change (72,562,435) 37,085,288 Local Property Tax 16,512,887 20,005,377 3,492,490 Specific Ownership Tax 4,134,836 4,143,010 8,174 ($48,414,048) $40,585,952 Total ($89,000,000) State of Colorado Total Program Funding in millions Gaps represent rescissions and legislative actions. $6,000.0 The actual funded Total Program has declined 7.2% from the high in 2009-10. Gap represents negative factor of 17.6% $5,000.0 $4,000.0 $3,000.0 $2,000.0 $1,000.0 $000.0 Fully Funded Total Program Total Program Less Rescissions /Legislative Actions 2008-09 Actual 2009-10 Actual 2010-11 Actual 2011-12 Actual* $5,354.8 $5,717.3 $5,822.3 $6,006.9 2012-13 REVISED BUDGET REQUEST $6,286.1 $5,347.3 $5,586.1 $5,439.7 $5,232.4 $5,184.0 *Subject to Legislative Approval FY2012-13 Budget Request Actual Funded Total Program* Change from Prior Year Cumulative Change NA NA 2008-09 Actual $5,347,325,784 2009-10 Actual $5,586,087,039 $238,761,255 2010-11 Actual $5,439,939,345 2011-12 With Supplemental** 2012-13 REVISED Budget Request % Change from Prior Year Funded Pupils Average Per Pupil Funding 778,136 $6,872 $238,761,255 789,497 $7,076 ($146,147,693) $92,613,561 798,600 $6,812 $5,232,447,623 ($207,491,722) ($114,878,160) 808,195 $6,474 $5,184,033,575 ($48,414,048) ($163,292,209) 817,185 $6,343 -.93% -.93 1.11% -2.02% *Includes effects of rescissions and legislative actions. **Subject to Legislative Approval NA 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 District Comparison • Spreadsheet posted on School Finance Website: – http://www.cde.state.co.us/cdefinance/School FinanceFundingFY2012-13.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. 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