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PUBLIC SCHOOL FINANCE UPDATE January, 2012 Leanne Emm Assistant Commissioner 303-866-6202

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Presentation on theme: "PUBLIC SCHOOL FINANCE UPDATE January, 2012 Leanne Emm Assistant Commissioner 303-866-6202"— Presentation transcript:

1 PUBLIC SCHOOL FINANCE UPDATE January, 2012 Leanne Emm Assistant Commissioner 303-866-6202 emm_l@cde.state.co.us

2 Agenda Governor’s Budget Request – 2011-12 Supplemental Request –2012-13 Revised Budget Request

3 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

4 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

5 Actual – 2011-12 Original Appropriation Actual 2011-12* Change (with Supplemental)* Funded Pupils805,891808,1952,304 At-Risk Pupils288,017292,6064,589 Total Program Prior to Negative Factor $5,987,109,016$6,006,861,965$19,752,949 Negative Factor($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

6 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!!

7 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

8 Revised Assumptions FY2012-13 Budget Request Estimated Change Total Pupil Growth8,990817,185 At-Risk Growth3,326295,932 Inflation Estimate3.5%NA Base Per Pupil Funding $197.22$5,831.99 Late February 2012 – actual inflation

9 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

10 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 Negative Factor Percentage -18.04%-17.60%.44% Average Per Pupil Funding $6,306.69$6,343.77$37.08

11 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) Revised Total Program$5,232,447,623$5,184,033,575($48,414,048) Negative Factor Percentage -12.94%-17.60%-4.66% Average Per Pupil Funding $6,474.24$6,343.77($130.47) *Subject to Legislative Approval

12 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 128,864,709 133,007,7194,143,010 Total $5,232,447,623$5,184,033,575($48,414,048) *Subject to Legislative Approval Compare FY2011-12 and FY2012-13

13 FY2012-13 Revised Budget Request Changes in Total Program Revised Request REVISED Funded Pupils817,185 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

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15 Revised FY2012-13 Budget Request ORIGINAL 2012-13 Request REVISED 2012-13 Request Change State Share (109,647,723)(72,562,435)37,085,288 Local Property Tax 16,512,88720,005,3773,492,490 Specific Ownership Tax 4,134,8364,143,0108,174 Total($89,000,000)($48,414,048)$40,585,952

16 *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.

17 FY2012-13 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 778,136$6,872 2009-10 Actual $5,586,087,039$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 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%-.93NA1.11%-2.02% *Includes effects of rescissions and legislative actions. **Subject to Legislative Approval

18 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

19 Review District by District Comparison Spreadsheet posted on School Finance Website: –http://www.cde.state.co.us/cdefinance/School FinanceFundingFY2012-13.htmhttp://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

20 REMINDER Numbers are subject to change – we are very early in the legislative session. Contact us for any clarification needed.

21 Questions & Evaluation


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