CASB 2017 Convention

Colorado K-12 Funding School Finance – New Board Member Training

November 30, 2017

Glenn Gustafson Colorado Springs D-11 / Deputy Superintendent - Chief Finance Officer

Tracie Rainey Colorado School Finance Project / Executive Director

COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

Colorado School Finance Project

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

The CSFP changed to a formal entity in 2014. We are a non-profit, Colorado-based company. The CSFP was originally created in 1995, following the passage of the 1994 School Finance Act.

Our website, www.cosfp.org, contains a wealth of current and historical information on school finance with topics ranging from national funding comparisons to Colorado’s legislative history on school finance.

Our sincere thanks to the many school districts and organizations (CASE, CASB, CEA, Colorado BOCES, DBO, and Rural School Alliance) who financially support our work. The CSFP could not do our work without their support.

Tracie Rainey Executive Director, Colorado School Finance Project Twitter: @COSFP Facebook: Colorado School Finance Project

Senior Fellow: Justin Silverstein (Augenblick, Palaich & Associates, Co-CEO)

CSFP Board of Directors:

John Augenblick – Secretary; national school finance expert Scott Murphy – Chair; Colorado school finance expert, retired Colorado Superintendent

Superintendent / Executive Director:

• Shila Adolf – Vice Chair; (Bethune, BOCES, Rural School Alliance) • Scott Mader (Trinidad) • Bret Miles (Northeast BOCES)

Assistant/Deputy Superintendent / CFO:

• Diane Doney (Littleton Public Schools) • Glenn Gustafson – Treasurer; (Colorado Springs D-11, DBO)

Chief Financial Officer:

• David Hart (Cherry Creek School District) • Bill Sutter (Boulder Valley Schools)

Organizations representing state-wide groups:

• Ken DeLay (CASB) – school boards • Lisa Escarcéga (CASE) – school executives • Karen Wick (CEA) – teachers / staff • Lisa Weil (Great Education Colorado) – parents / supporters of public education

NovemberNovember 2017 2017 15471547 Gaylord Gaylord Street Street | | Denver, Denver, COCO 80206-132480206-1324 303303-860-9136-860-9136 || @COSFP@COSFP | cosfp.org COLORADO SCHOOL FINANCE PROJECT

Support Children - Support The Future

Contents Page

Colorado School Finance & Education Reform Timeline 1

CSFP Briefing Document: Colorado’s Constitution - 3 How it Impacts the State’s Budget

CSFP Briefing Document: How are Colorado School Districts Funded 5

Revenue Inside the School Finance Act; State & Local Share Varies 6

School Districts Have No Control Over What One Mill Raises 7

Map: District Mill Levy Overrides 8

Comparing Colorado to U.S. Average – Trends in Per Pupil Funding 9

Percent Change in Per Pupil Funding 10

Categorical Funding: Federal, State, District Percent Share 11

Colorado’s Budget Stabilization Factor (Negative Factor) 12

Comparing Colorado & U.S. Average: Estimated Average Annual 13 Teacher Salary

Map: Colorado School Districts with 4-Day Weeks 14

CSFP Briefing Document: What is the timing for school finance? 15 Are adjustments made throughout the year?

Colorado Springs District 11 – Budget Development Process & Calendar 16

Sample District Budget Development Calendar for 2016-17 School Year 17

CSFP district appreciation 18

Contact Information:

Glenn Gustafson, Colorado Springs D-11: [email protected] Tracie Rainey, Colorado School Finance Project: [email protected]

FY 2017-18 FY 2016 - 17 FY 2015-16 FY 2014-15 November 2017

Student Count (membership) Available January 2018 905,019 899,112 889,006

Budget Stabilization Factor (BSF)/ -$828.3M (Budget Stabilization -$828.3M (Negative Factor) -$830.7M (NF) -$880.1M (NF) Negative Factor (NF) - projected) Per Pupil Negative Factor (state -$957 (projected) -$964 -$974 -$1,042 average)

SB17-267: $30M to Rural State Board Education 2017 Interim (HB17-1340): schools. SB17-296 SFA: rename Neg Factor to Budget School Finance Interim Cmte. HB16-1354: New MLO for cash Reduced Negative Factor & Stabilization Factor. HB17- January 2018 - May 2018 funding school technology, $5M At-Risk (free lunch), $10M

Legislative Policy / 1340: School Finance Interim COLORADO Legislative Session. capital construction, facility rural schools < 1,000 students. State Board of Education (SBE) Cmte 2017 & 2018 Interims. SBE: 2021 graduation class needs; outside current 25% cap SB15-213 Claire Davis School Support

1547 Gaylord Street |Denver, CO 80206-1324 HB17-1375: Districts share proof of competency (HB12- (30% rural districts). Safety Act.

303-860-9136 |@COSFP |cosfp.org 1240). MLO w/charters 2019-20. HB17-1003 CDHE/CDE teacher

shortage study, report 12/17. Children -SupportTheFuture Colorado Legislative Policy - Policy Legislative Colorado SCHOOL

Federal Policy ESSA ESSA ESSA NCLB FINANCE

Amendment 71 pass: PROJECT Requirements for Constitutional Amendments, Statewide Election set number of signatures in senate districts statewide, pass w/ 55% of votes cast

Supreme Court Rulings TABOR lawsuit ruling: plantiffs 1)Dwyer v CO-Amendment 23: lack standing, appeal is Legislature can reduce funding Colorado Judicial Douglas Cnty Schl Dist v possible. via Negative Factor. (U.S. Supreme Court in italics) Taxpayers for Public Education U.S. Supreme Court Ruling: 2)Taxpayers for Public Endrew F. v Douglas County, Education v Douglas Cnty Schl Dist- per CO constitution: school district can't aid religious school. Page 1

FY 2017-18 FY 2016 - 17 FY 2015-16 FY 2014-15

Full Timeline FY 2017-18 thru 1982: cosfp.org > School Finance > Timeline - School Finance & Ed Reform

1547 Gaylord Street | Denver, CO 80206 November 2017 303-860-9136 | @COSFP | cosfp.org November 2017 Colorado School Finance & Education Reform Timeline FY 2017-18 to FY 2010-11

FY 2013-14 FY 2012-13 FY 2011-12 FY 2010 - 11

Student Count (membership) 876,999 863,561 854,265 843,316

Budget Stabilization Factor (BSF)/ -$381M (State Budget -$1.004B (NF) -$1.001B (NF) -$774M (NF) Negative Factor (NF) Stabilization Factor) Per Pupil Negative Factor (state -$1,209 -$1,237 -$958 average)

HB14-1298: $110M reduce SB12-260: PreK +3,200 slots. State Board Education Negative Factor & add $17M Charter school facilities: $1M. for 5,000 PreK slots. HB12-1240: SBE Graduation

$200K from SEF to Great COLORADO Charters $18M for facilities, Requirements, CDE Cost Study

Teachers/Leaders, SPED Support BEST capped $40M for PWR diploma endorsements. Negative factor added to 1547 Gaylord Street |Denver, CO 80206-1324 Legislative Policy / +$20M Tier B. Lease/Purchase, $3M CDE HB12-1345: READ Act $5.4M school finance formula -

303-860-9136 |@COSFP |cosfp.org State Board of Education (SBE) SB13-213; Not implemented, transparency website, $2M SB12-172: SBE join PARCC, SBE mechanism to reduce funding. A66 failed at statewide ballot. BOCES. adopt Common Core standards. SBE: High school class 2021 Children -SupportTheFuture $18M READ Act. CAP4K Costing Out final report.

graduation proof of SCHOOL HB14-1298: $27M for ELL. competency (HB12-1240). Colorado Legislative Policy - Policy Legislative Colorado COLA Adjustment.

ARRA Stimulus revenue ends. June Fed Edu Jobs ends. FINANCE Federal Policy NCLB NCLB Receive ESEA Waiver Race to the Top: phase 3 $17.9M over 4 years. CO applies for ESEA Waiver. PROJECT

Amendment 23: 1% increase Marijuana/Cannabis: Excise tax sunsets. revenue up to $40M for BEST Amendment 66 failed: funding Ref C revenue timeout sunsets. Statewide Election Capital Construction Program, for SB13-213. Prop 103 fails ($563M no $ to General Fund. temporary increase for education).

8/11: District Court: Lobato trial Supreme Court Ruling: Current begins. 12/11 Ruling: Colorado school finance system is school finance system "irrational Colorado Judicial constitutional. TABOR lawsuit (Kerr et al. v. and inadequate, (U.S. Supreme Court in italics) Taxpayers for Public Ed. V Hickenlooper) filed unconscionable." Douglas Cnty School District 2012: State appeals Lobato filed. decision to Supreme Court. Page 2

FY 2013-14 FY 2012-13 FY 2011-12 FY 2010 - 11

Full Timeline FY 2017-18 thru 1982: cosfp.org > School Finance > Timeline - School Finance & Ed Reform

1547 Gaylord Street | Denver, CO 80206 November 2017 303-860-9136 | @COSFP | cosfp.org COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

CSFP Briefing Document: Colorado’s Constitution – How it Impacts the State’s Budget: A Quick Lesson on Gallagher, TABOR, Amendment 23 & the impact of Negative/Budget Stabilization Factor on Amendment 23.

The Gallagher Amendment was referred to the ballot by the legislature and passed by voters in 1982 to control for residential and commercial fluctuations in property tax support for local governments. It created a formula that could fluctuate mill levies up and down and adjust for economic changes in residential and commercial growth patterns.

Article 10 Section 20 – also known as the TABOR Amendment, was passed by the voters of Colorado in 1992. Article 10 Section 20 added numerous changes and limits to Colorado’s constitution:

• Operations of state and local governments: o no taxing authority o both a revenue and a spending cap for state and local governments. • Election process: o mandates all revenue increases be voted on by voters o defines when and in what year elections can be held o states specific language terminology that must be used when asking voters to raise revenue. • Situations not contemplated: o Adjustments in revenue and spending limits to state and local budgets when there is a change in revenue tax collections or a change in the economy o Impact of Gallaher to state and local government budgets in conjunction with Article 10 Section 20. • Between 1966 and 1990 there were 7 attempts to pass a tax limitation initiative before the TABOR amendment passed in 1992.

Referendum C (referred by the legislature) - passed by voters in 2005 to address the revenue limit in Article 10 Section 20. A time-out was granted and the ratchet effect in Article 10 Section 20 was removed. This gave temporary relief to the state’s budget.

November 2017 1547 Gaylord Street | Denver, CO 80206-1324 Page 3 303-860-9136 | @COSFP | cosfp.org

November 2017 1547 Gaylord Street | Denver, CO 80206-1324 Page 3 303-860-9136 | @COSFP | cosfp.org COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

Amendment 23 was a citizen’s initiative approved by the voters in 2000. It was designed to increase funding in Colorado after years of declining funding between the late 1980s through the 1990s. Amendment 23 was not a tax increase. Amendment 23:

• Required the statewide base and total funding for categorical programs increase by at least the rate of inflation. (For the first 10 years funding increased by the rate of inflation plus 1% to return funding to 1988 levels.) o Categoricals are outside the school finance formula – consisting of special education, English language learners, Gifted and Talented, small schools, transportation, and vocational education. • Created the State Education Fund – diverting 1/3 of 1% of income tax to the State Education Fund. This revenue is exempt from TABOR limitations. In 2009 the Legislature created the “Budget Stabilization Factor” as a mechanism in the school finance act to reduce Amendment 23’s requirement of annual inflationary increases to per pupil funding. In 2010 the Legislature renamed the Budget Stabilization Factor to the “Negative Factor”.

• The Negative Factor takes money away from per pupil funding. • The 2015 ruling of the Supreme Court determined that the Negative Factor created during the recession is legal and that the voters in 2000 allowed for the legislature to reduce funding. • In 2017 the Legislature renamed the Negative Factor the “Budget Stabilization Factor”. • Between 2009 and 2017-18 the Negative / Budget Stabilization Factor has resulted in almost $6 billion in lost revenue to K-12. The Budget Stabilization Factor has now been in place for 9 fiscal years.

CSFP Briefing Document: How are Colorado School Districts Funded? School districts are funded by a combination of sources as defined in the School Finance Act. The formula for total program funding is defined by the legislature in the School Finance Act. Local revenue + State revenue = Total Program Funding for a district. 1. How are the local and state revenues determined? a. Local revenue is determined first: Generated by local property taxes and specific ownership tax. b. Next, Local revenue is subtracted from the amount designated in the School Finance Act. c. The result is the State revenue portion. (State revenue comes from sales and income tax.) 2. The formula also calculates the “Budget Stabilization/Negative Factor” and an amount is deducted from the State’s portion of funding for each school district. The impact varies by school district as the calculation is on the statewide average, not calculated for each school district. Otherwise there would be 178 school finance formulas.

Additional revenue streams to districts: 1) Federal Funds: flow to districts that are tied to certain programs or students. 2) State funds: “Categorical” dollars for special education, English language learners, gifted and talented, Vocational education, transportation and small attendance centers. (source: Sales and Income Tax collected by state) 3) Local override dollars: Voter approved increases in local tax dollars for local programs and priorities. These dollars are outside the mills raised for the school finance act. 4) Grants: Typically for a specific purpose and for a particular length of time. 5) Bond Dollars: Voter approved increases primarily approved for capital construction. Bond dollars cannot be used for general operations in a district.

Revenue Inside the School Finance Act Local Share – District Total Program = State Share

Local Share LOCAL SHARE • Property tax Local District Taxes: • Starting point for Property Taxes determining state share of Ownership Tax District Total Program • Remains in the district

STATE SHARE State Share State Taxes: • State “backfills” to reach General Fund Education Fund District Total Program.

State & Local Share Varies (by design)

District A District B

LOCAL SHARE Local District Taxes: Property Taxes LOCAL SHARE Ownership Tax Local District Taxes: Property Taxes Ownership Tax

STATE SHARE State Taxes: General Fund STATE SHARE Education Fund State Taxes: General Fund Education Fund

November 2017 1547 Gaylord Street | Denver, CO 80206-1324 Page 6 303-860-9136 | @COSFP | cosfp.org COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

School Districts Have No Control Over What One Mill Can Raise

Districts: 1 Mill Raises a Wide Range of Dollars

$14,000,000 $13,221,694

$12,000,000 Median Dollars from 1 Mill: $111,054 $10,000,000

$8,000,000

$6,000,000 $5,210,192

$4,000,000 $2,458,815 $2,000,000 $821,888 $3,842 $194,469 $0 Edison Valley RE-1 Steamboat Colorado Cherry Creek Denver Springs Springs

• One mill raises a low of less than $4,000 to a high of over $13,000,000. • The average dollars raised by 1 mill is about $500,000; Median is $110,000.

Per Student: 1 Mill Raises a Wide Range of Dollars $3,500 Median Dollars per Student from 1 Mill: $133 $3,239 $3,000

$2,500

$2,000

$1,500 $1,214

$1,000 $652

$500 $284 $111 $19 $- Fountain 8 & Moffat 2 Ridgway Hinsdale Meeker Pawnee Byers County

• One mill per student raises a low of less than $20 to a high of over $3,000. • Average dollars per student raised by 1 mill is about $280; Median about $130.

More information: cosfp.org > CSFP Research > District Tax Effort / Fiscal Capacity

COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

Comparing Colorado to U.S. Average - Trends in Per Pupil Funding FY 1991-92 to FY 2013-14

U.S. Census Ed Week Quality Counts National Center Education Statistics

U.S. Average per Pupil Funding (baseline) $0 Colorado funds between $2,000 to $2,700 less per pupil than the -$500 U.S. Average.

-$1,000

-$1,500

-$2,000 Comparing a variety of sources, the funding gap between Colorado and the U.S. average has Dollars Per Pupil Below U.S. U.S. Average BelowPupil Dollars Per continued to grow over the past two decades. -$2,500

-$3,000

Audited data from U.S. Census, Quality Counts, NCES * Negative Factor (mechanism to reduce Chart: Colorado School Finance Project funding) incorporated in School Finance Act April 2017

For over twenty years, the per pupil funding gap between Colorado and the U.S. average has continued to grow. In the early to mid-90’s the gap was less than $500 per student. By 2013-14 the gap increased to between $2,000 to $2,700 per pupil.

Adjusting for inflation, Colorado went from spending about $1,000 less per student in FY1993-94 to over $2,000 less in FY 2013-14. U.S. Census Data.

NovemberNovember 2017 2017 15471547 Gaylord Gaylord Street Street | | Denver, Denver, CO CO 80206-1324 80206-1324 PagePage 9 9 303-860-9136303-860-9136 | | @COSFP @COSFP | | cosfp.org cosfp.org COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

Percent Change in Per Pupil State Funding – 2007-08 to 2013-14 Adjusted for Inflation: Constant 2015-16 dollars

AK, Increase: CN, 9.0% to 16.9% DC, IL, ND, NH, VT

AR, DE, IA, Increase: MA, ME, MN, 0% to 8.9% MT, NE, NY, PA, WA, WV, WY

Decrease: IN, KY, LA, MD, MI, NC, -0.1% to -4.9% NJ, OH, RI, SC, SD, TN, UT

U.S. AVERAGE: -3.2%

Decrease: HI, KS, MO, MS, NM, -5.0% to 9.9% NV, OK, OR, TX, VA, WI

Decrease: -10% to -14.9% AL, AZ, CA, CO, GA, ID, FL

Data: U.S. Department of Education, National Center for Education Statistics (NCES) 2016 Digest, Table 236.65, audited data. NCES does not include monies from mill levy overrides, bond, or private contributions 2007-08 was the first year of state impact by the Great Recession. Chart: Colorado School Finance Project

November 2017 1547 Gaylord Street | Denver, CO 80206-1324 Page 10 303-860-9136 | @COSFP | cosfp.org

Vision: Every Colorado student has access to an adequate & equitable public school education.

Categorical Funding: Federal, State, District Percent Share FY 2014-15

Federal State District 0.0%COLORADO10.0% 20.0% SCHOOL30.0% FINANCE40.0% PROJECT50.0% 60.0% 70.0% 80.0% 90.0%

Special Education Support Children - Support The Future 61.6%

English Language Learner 79.5% Gifted and Talented Vision: Every Colorado student has access to an adequate & equitable public 69.0%school education. Career and Technical Education 65.1%

Public School Transportation Categorical Funding: Federal, State, District Percent Share FY 2014-1576.3% Data: JBC Ed Briefing 12/2016 Chart: Colorado School Finance Project Federal State District 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0%

Special Education Federal and State Categorical Funding: 61.6% English Language Learner • 38% of special education costs 79.5%

• 20Gifted% of andEnglish Talented learner costs • 31% of gifted and talented costs (no federal funding) 69.0% Career• and35 Technical% of Career Education and Technical Education costs 65.1% • 24% of public school transportation costs (no federal funding) Public School Transportation 76.3% Data: JBC Ed Briefing 12/2016 Chart: Colorado School Finance Project

Federal and State Categorical Funding:

• 38% of special education costs • 20% of English learner costs • 31% of gifted and talented costs (no federal funding) • 35% of Career and Technical Education costs • 24% of public school transportation costs (no federal funding)

Data: JBC Ed Briefing Report, CDE 1547 Gaylord Street | Denver, CO 80206-1324 Page 11 November 2017 303-860-9136 | twitter | facebook | website

Colorado’s Budget Stabilization Factor (Negative Factor) 2010: Colorado Legislature added the “State Budget Stabilization Factor” to the School Finance Act as a mechanism to reduce funding. 2011: Colorado Legislature renamed the Factor to the “Negative Factor”. 2017: Colorado Legislature renamed the Negative Factor to the “Budget Stabilization Factor”.

Budget Stabilization Factor: 2018-19: $830M (projected) 2017-18: $830M 2016-17: $830M 2015-16: $855M 2014-15: $880M 2013-14: $1.004B 2012-13: $1.001B 2011-12: $774M 2010-11: $381M

CSFP’s district by district report of Nine Years of Colorado’s K-12 School Funding Cuts 2009-2018 is available on our Budget Stabilization / Negative Factor page: cosfp.org> School Finance > Budget Stabilization / Negative Factor

November 2017 1547 Gaylord Street | Denver, CO 80126-1324 Page 12 November 2017 1547 Gaylord303-860 -Street9136 || @COSFPDenver, CO | 80206-1324 cosfp.org Page 12 303-860-9136 | @COSFP | cosfp.org COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

Comparing Colorado & U.S. Average: Estimated Avg. Annual Teacher Salary (constant 2015-16 dollars) $65,000 United States Colorado

$58,843 $60,000 $58,064

$55,000

$53,714 $50,000 $50,039 Adjusting for inflation, Colorado teacher $45,000 salaries declined about $3,700. U.S average declined $770.

$40,000 1999-2000 2009-10 2014-15 2015-16 Data: National Center for Education Statistics Chart: Colorado School Finance Project

Over the past 16 years, Colorado’s teacher salaries have declined by about $3,700 – a 6.8% decline.

During the same period, the U.S. Average teacher salary declined about $770 – a 1.8% decline.

November 2017 1547 Gaylord Street | Denver, CO 80206-1324 Page 13 303-860-9136 | @COSFP | cosfp.org

COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

CSFP Briefing Document: What is the Timing for School Finance? Are Adjustments Made Throughout the Year?

The timing of the legislatures work on school finance and school district decisions for their budget do not tie together neatly. Legislature: January – March/April/early May: The legislature convenes in January and begins work on School Finance in March or April for the upcoming school year. (i.e. January – May 2018 convening, determining funding for 2018-19 school year.) To determine funding for the upcoming 2018-19 school year the legislature uses the following estimates. Once actual numbers are available and state forecasts are updated, the legislature may adjust funding to districts. i) An estimated enrollment count (from May 2018) is used until CDE releases the October Membership Count in December 2018. ii) An estimated local share (local property taxes and specific ownership tax) is used until the final mill levy certification, which is determined in December 2018. iii) In January 2019, via the Supplemental Process, the legislature makes adjustments to the district funding. The desired outcome is to increase revenue to reflect enrollment changes and local property tax collections. When the state does not pick up the new dollars needed it is then taken back from a school district in the form of a mid-year rescission. School Districts: Will have made decisions for the upcoming school year in many areas prior to knowing the revenue they will actually receive. Districts must finalize the upcoming fiscal years’ budget by the end of June 2018.

NovemberNovember 2017 2017 15471547 Gaylord Street | DenvDenver,er, CO 80206-1324 80206-1324 Page Page15 15 303-860-9136303-860-9136 | @COSFP | cosfp.org Colorado Springs School District 11 Budget Development Process and Calendar FY 2018-2019 Draft

The District’s business plan and board goals will be the basis for the budget development Budget Development process. Other influences on Board Process the budget development Deliberations process include pupil count Winter 2018 projections, estimated •January 8 Budget Spring 2018 property assessed valuations, modification requests •March Human Resources estimated beginning fund for the FY18/19 budget Department issues school staffing balance, unified school and sent to budget allocation letters to schools district improvement plans, managers •March 14 Board non-action on preliminary budget development capital plan update, and •January 10 Board non- action on mid-year assumptions technology plan update. budget modifications to •March 21 Board action on the FY17/18 adopted preliminary budget development 2017 budget assumptions •April 2 Schools return per-pupil •October 4 Budget •January 17 Board work session on mid-year allocation budgets to Budget and modification requests for Planning Office the FY17/18 mid-year budget modifications to budget sent to budget the FY17/18 adopted •April 6 Departments return base budget allocation sheets to Budget managers (if applicable) budget and Planning Office •October 31 Budget •January 24 Board action on mid-year •May TBD Last day of state modification requests for legislative session the FY17/18 mid-year budget modifications to •May 16 Projected delivery of budget due to Budget the FY17/18 adopted budget proposed budget to the Board of Office Education (delivery no later than •November 14 Budget •January 30 Budget May 31) C.R.S. 22-44-108(1)(c) modification requests modification package due •May 20 Publish notice to the to the DAC Budget for the FY18/19 budget public that the proposed budget is Subcommittee and Cabinet due to Budget Office available for review per C.R.S. 22- for review •February 1 Revised 44-109(1) •December 13 Mill levy school pupil projections •May 30 Board non-action and certification for property due public hearing for FY18/19 budget tax collection in calendar •February 13 FY18/19 adoption and the following year 2017 budget modifications resolutions: Use of Portion of •December District-wide and preliminary budget Beginning Fund Balance; pupil projections due from development Appropriation; Designation of Fund the Enrollment Office assumptions due for Balance; Reserves and Designations reveiw to DAC Budget Applied to Fiscal Year Spending; Subcommittee Interfund Borrowing; and Student •February 16 Per-pupil Fees, Fines, and Charges allocation budgets due •June 6 Board budget work session to school principals and DAC Budget Subcommittee annual report presentation •March 9 Base •June 13 Board action for adoption budget allocation sheets of FY 18/19 budget and all due to department resolutions C.R.S. 22-44-105(5) and budget managers C.R.S. 22-44-105(1)(d.5) •June 27 Board action for adoption of FY18/19 budget and all July 1, 2017 Post Uniform Budget Summary to district’s website resolutions, if needed for FY17/18 C.R.S. 22-44-105(5) and C.R.S. 22-44-105(1) (d.5)

COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

Sample District Budget Development Calendar for 2018-19 School Year Italics = State Level

July 2017 August 2017 September 2017 New Fiscal Year Begins District: Plan budget calendar State: 2018-19 Revenue for 2018-19. Forecast BOE: Long-range budget forecast discussions with BOE. BOE receives quarterly Decision due for Mill or Bond financials election. District: Receive preliminary assessed valuation

October 2017 November 2017 December 2017 October Student Count (10-day State: Governor’s Budget State: 2018-19 Revenue window) Forecast. CDE releases student District: Mill or Bond election, Membership Count. Odd years: School board election District: Receive final assessed valuation from county assessor. BOE: Certify mill levies property tax collection figures to county commissioner. BOE: Revised 2017-18 Budget Approved & Quarterly financials January 2018 February 2018 March 2018 Legislature: Session Begins. Consumer Price Index (CPI) State: 2018-19 Revenue Supplemental Process. Forecast Forecast Legislature: Preliminary indication of school finance BOE receives quarterly financials BOE: receives budget update BOE: Approve funded Capital projects

April 2018 May 2018 June 2018 District/BOE: Begin staffing Legislature: Finalize School State: 2019-20 Revenue decisions for 2018-19 Finance Act. Session ends. Forecast

District/BOE: Staffing decisions, BOE receives quarterly preliminary budget must be financials presented BOE: Adoption of 2018-19 budget

COLORADO SCHOOL FINANCE PROJECT Support Children - Support The Future

CSFP appreciates the financial support of the following districts for their financial support in 2017-18. November 14, 2017 Adams 12 Five Star Schools Elizab eth District C-1 Norwood School District R-2J Adams County School District 14 Ellicott District 22 Otis District R-3 Agate School District 300 Englew ood 1 Park County RE-2 Alamosa School District Re-11 J Fleming School - Frenchman RE-3 Park District R-3 Archuleta-Hinsdale S.D. 50 JT Fort Morgan District Re-3 Pawnee District Re-12 Arickaree School District R-2 Fountain Fort Carson Peetz Plateau District Re-5 Arriba-Flagler Consolidated #20 Fowler District R4 J Peyton 23 JT Aspen School District 1 Garfie ld District 16 Platte Canyo n 1 Aurora Public Schools 28J Garfield District Re-2 Platte Valley District Re-7 Bayfield School District 10 JT-R Genoa - Hugo C113 Poudre R-1 Bennett School District 29J Gilpin County District Re-1 Primero Reorganized District 2 Bethune District R-5 Harrison District 2 Pueblo City Schools 60 Big Sandy School District 100-J Haxtun Re-2J Pueblo District 70 Boulder Valley District RE 2 Hayden District Re1 Rangely District RE-4 Briggsdale RE-10J Hi-Plains R-23 RE-1 Valley Schools Brighton School District 27J Idalia RJ-3 Ridgway District R-2 Brush School District Re-2 (J) Ignacio 11 JT Roaring Fork District Re-1 Buena Vista District R-31 Jefferson County District R-1 Rocky Ford R-2 Buffalo School District RE-4J Julesburg District Re1 Salida District R-32 Burlington District Re-6J Karval RE-23 Sanford District 6J Byers School District 32J Keenesburg Weld RE-3(J) Sangre de Christo Re-22J Calhan District RJ-1 Kim Reorganized District 88 Sargent District Re-33 J Campo RE-6 Kiowa C-2 Sierra Grande District R-30 Canon City District RE-1 Kit Ca rson RE-1 Silverton 1 Centennial R-1 La Junta / East Otero Springfield RE-4 Center 26 JT La Veta RE-2 St. Vrain Valley District Re1J Charter School Institute Lake County District R-1 Steamboat Springs Dist. Re2 Cheraw 31 Lamar RE-2 Strasburg 31J Cherry Creek District 5 Lewis-Palmer District 38 Stratton District R-4 Cheyenne Mountain District 12 Liberty RJ-4 Summit District Re1 Clear Creek District Re-1 Limon District RE 4J Telluride R- 1 Colorado Springs District 11 Little ton District 6 Thompson R-2 J Creede Consolidated District 1 Lone Star School District 101 Trinidad School District 1 Cripple Creek-Victor District RE-1 Mancos RE-6 Vilas RE-5 Crowley County Schools RE-1J Manitou Springs District 14 Walsh District Re-1 Custer County Consolidated C-1 Manzanola District 3J Weld County District #6 DeBeque 49JT Mapleton School District 1 Weld County RE 1 - Gilcrest Deer Trail School District 26J McClave District Re-2 Weld RE-5J Denver Public Schools Meeker District Re1 Weldon Valley RE-20(J) Dolores District RE 4A Mesa C ounty Valley 51 West End District Re-2 Eads RE-1 Moffat County District RE-1 West Grand 1 JT Eagle County District Re-50 Moffat District 2 Widefield District 3 East Grand District 2 Monte Vista District C-8 Wiggins District Re-50 (J) Eaton RE-2 Montezuma-Cortez District Re1 Windsor RE-4 Edison District 54JT Montrose County District Re-1J Elbert District 200 North Park District R-1