Transcript PUBLIC SCHOOL FINANCE UPDATE November, 2011 Leanne Emm Assistant Commissioner 303-866-6202 [email protected] Agenda • Accreditation Report & Financial Transparency • Governor’s Budget Request.

PUBLIC SCHOOL FINANCE
UPDATE
November, 2011
Leanne Emm
Assistant Commissioner
303-866-6202
[email protected]
Agenda
• Accreditation Report & Financial
Transparency
• Governor’s Budget Request
Annual Audits, Accreditation Report
&
Financial Transparency
Annual Audits – June 30, 2011
• Present to your Board of Education by
November 30
• Postmarked audited financial statements &
Accreditation Report
– CDE and State Auditors Office by December
30
– ADE Submission by December 30
• Requests for extensions must be made
before December 30
FY2010-11 Accreditation Report
Two new questions - Financial Transparency
C.R.S. 22-44-301 through 304
• Has the school district complied with all of the
reporting requirements of the Public School
Financial Transparency Act?
• Has the school district’s charter school(s) complied
with all the reporting requirements of the Public
School Financial Transparency Act?
Financial Transparency
HB 10-1036 requires each “Local Education
Provider” (LEP) to post financial information online, 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; and
• An Institute Charter School.
Financial Transparency
Commencing July 1, 2010:
•
•
•
•
District Adopted Budget for FY09-10 and FY10-11
District Financial Audit
Quarterly Financial Statements
Salary Schedules or Policies
Additionally Commencing July 1, 2011:
• Accounts Payable Check Registers
• Credit, Debit and Purchase Card Statements
Financial Transparency
Additionally Commencing July 1, 2012:
• Investment Performance Reports
Personal information relating to payroll,
including but not limited to payroll deductions
or contributions, or any other information that
is confidential or otherwise protected from
public disclosure is not required to be posted.
Financial Transparency
– Available online and updated within sixty
days after the completion or receipt of the
applicable report, statement, or document
– Maintain the prior two budget years’ financial
information on-line until the end of the current
budget year
– CDE Website – template as prescribed by HB
10-1036
http://www.cde.state.co.us/cdefinance/sfFinancialTransparency.htm
Governor’s Budget Request
2012-13
State of Colorado
General Fund - $7.01 Billion
2011-2012
General
Government
0.7%
Other
3.5%
Human
Services/Health
Care
32.6%
Education (K-12)
40.4%
$2.83B
Higher Education
8.9%
Source: 2011/2012 Budget in Brief; Joint Budget Committee
Corrections/
Judicial
13.9%
State of Colorado
General Fund - $7.2 Billion
2012-13 - Governor's Budget Proposal
General
Government**
0.8%
Other
3.6%
Human
Services/Health
Care
34.5%
Education (K-12)
39.3%
$2.83 Billion
Higher Education
7.8%
Corrections/Judicial
14.0%
Assumptions
FY2012-13 Budget Request
Estimated
Change
Total
Pupil Growth
6,698
812,589
At-Risk Growth
2,666
290,683
Inflation Estimate
3.5%
NA
$197.22
$5,831.99
Base Per Pupil
Funding
Late February 2012 – actual inflation
Assumptions
FY2012-13 Budget Request
• Preliminary assessed values from counties
indicate original decline anticipated for FY
2011-12 is not as high
– Anticipated decline of 7.21%
– Preliminary August AVs – decline of 5.28%
– Potential increase in local share of $35.4
million for 2011-12
– For 2012-13, estimated growth in local share
of $20.6 million
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
FY2012-13 Budget Request
Revised
2011-12
Appropriation
2012-13 Request
Change
Total Program prior
to Negative Factor
(Growth &
Inflation)
5,987,109,016
6,248,516,540
261,407,524
Negative Factor
(773,365,943)
(1,123,773,467)
(350,407,524)
$5,213,743,073
$5,124,743,073
($89,000,000)
-12.97%
-18.04%
-5.07%
Revised Total
Program
Negative Factor
Percentage
2012-13 Budget Request
Total Program Funding - School Finance Act
$5,124.7 Billion
Other State Funds,
$520.51, 10.2%
Property Tax,
$1,790.42, 34.9%
State General
Fund, $2,671.85,
52.1%
in millions
Specific
Ownership,
$141.96, 2.8%
FY2012-13 Budget Request
Original
Appropriation
Revised
2011-12
Appropriation
2012-13
Request
Change from
Revised to
Request
State Share
3,336,347,674
3,302,007,443
3,192,359,720
(109,647,723)
Local Property
Tax
1,738,519,123
1,773,907,753
1,790,420,640
16,512,887
Specific
Ownership Tax
137,827,877
137,827,877
141,962,713
4,134,836
Total
$5,212,694,674
$5,213,743,073
$5,124,743,073
($89,000,000)
FY2012-13 Budget Request
Changes in Total Program
Estimated Growth and Inflation –
not funded
$261,407,524
Budget Balancing Measure – year
over year reduction
89,000,000
Total that Represents the Increase
in the Negative Factor
$350,407,524
State of Colorado
Total Program Funding
in millions
Gaps represent rescissions
and legislative actions.
$6,000.0
The actual
funded Total
Program has
declined 8.26%
from the high in
2009-10.
Gap
represents
negative
factor of
18.04%
$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
ESTIMATE
$5,354.8
$5,717.3
$5,822.3
$5,987.1
2012-13
NOVEMBER
BUDGET
REQUEST
$6,248.5
$5,347.3
$5,586.1
$5,439.9
$5,213.7
$5,124.7
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
ESTIMATE
2012-13
November
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
$5,213,743,073
($226,196,273)
($133,582,711)
805,891
$6,470
$5,124,743,073
($89,000,000)
($222,582,711)
812,589
$6,307
-1.71%
-1.71%
0.83%
-2.52%
*Includes effects of rescissions and
legislative actions.
NA
2011-12 Appropriated Total Program Funding by
Component, With and Without Negative Factor
At-Risk,
Size, $284
$261
Other,
$120
All Other
Factors,
$759
COL,
$868
Negative
Factor
($774)
Base,
$4,454
Base,
$4,454
Total Program Funding:
$5,987.1 million
Total Program Funding:
$5,212.7 million
General Planning
• Recommended to review 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
Upcoming Training Sessions
• Financial Policies and Procedures Handbook
Update Webinar
– Wednesday, November 16 – 10:00
– Thursday, December 8 – 2:00
• BEST Program
– Thursday, November 17 – 10:30
Questions?