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Leanne Emm, Associate Commissioner, Public School FinanceScott Newell, Director, Capital Constructi on
League of Charter SchoolsPolicy & Facility Summit
October 6, 2014
BEST Program
Requirement to include remaining bond capacity and unreserved funds into the school district match calculations
Requirement that each year’s grant funds are appropriated
Requirement that Division staff perform outreach to any school in an area the Governor has declared a natural disaster
2014 BEST Legislative Changes
The Division anticipates approximately $35-45 million available for grants in the coming year
Grants are available for any school capital improvement project with a focus on health, safety, security, overcrowding, technology and others
Contact Division staff to get started on next year’s BEST applicationhttp://www.cde.state.co.us/cdefinance/capconstbest
BEST Program
Building Excellent Schools Today:BEST Program Timeline
Jan. – Feb. Application for
financial assistance is
open to applicants Mar. - April
Division Staff reviews
applications & summarizes them
in a Summary Book for the
CCAB
April - May
CCAB reviews Summary Book
End of May
CCAB discusses each project and
makes recommendations
to the State Board for award
June
State Board Meeting to
approve CCAB recommendations
July
Capital Development Committee Meeting to
approve State Board
recommendations
Oct. 27 th Charter School Letter of Intent Due
Performance audit by Office of State Auditor Recommendations made for improvements to program
All recommendations have been implemented except for two items needing funding to implement
Budget request for 2015-16 One-time costs - reconfigure and adjust the current assessment
database - $2.7MOngoing cost - update the statewide assessment and keep the data
current In-house assessment team - $580,000One time costs - training - $100,000
BEST Program – 2015-16
• The charter school capital construction grant is a per pupil allocation separate from the BEST grant.
• Each year the legislature provides an appropriation for Charter School and Institute Charter School Capital Construction. This funding can be used by the Charter School or Institute Charter School to pay for school construction, renovation, financing, purchasing or leasing of facilities.
• HB14-1292 - Student Success Act added to the grant 12.5% of the annual excise tax revenues from marijuana
• The purpose of this funding is to promote a safe and healthy learning environment for all Colorado students.
Charter School Capital Construction Grant
To be eligible for charter school capital construction funds a charter school must:• HAVE capital construction needs;• IF the school is located in a district owned facility with construction needs;• IF the school is located in a State owned facility, and paying rent, the school
is eligible.• IF the school is located in a State owned facility, and not paying rent, the
school is not eligible. • ON-LINE pupils are not eligible.
• Funds are distributed monthly to the charter school authorizer and then the authorizer is required to distribute the funds to each charter school.
Charter School Capital Construction Grant Program
• The annually appropriated amount is divided by the statewide total qualifying FTE as reported in the October count to determine the per pupil distribution.• Must meet eligibility requirements
Note: These figures exclude the excise tax appropriation
Charter School Capital Construction Grant Program
Fiscal Year Appropriation Estimated Amount Per Pupil
2013-14 $7,000,000 $94.90
2014-15 $13,500,000 $167.00
2015-16 $20,000,000 $225.00
NEW for FY14-15 • The grant will also receive 12.5% of the total excise tax on
marijuana
Example• If total excise revenues for the year are $10 million CSCC would receive $1.25
million equaling approximately $15 per eligible FTE
• If total excise revenues for the year are $40 million CSCC would receive $5 million equaling approximately $60 per eligible FTE
Charter School Capital Construction Grant Program
2014 Legislative Session & Discussion of Funding
Levels
Provided funding to fund growth and inflation plus $110 million buy down of negative factor
Provides a starting point for 2015-16 that states negative factor will not increase
Added 5,000 preschool slotsMinimum per pupil funding is available to all charter schoolsRepeals and reenacts English Language Proficiency Act
Additional $27 million; students funded for 5 yearsAdditional funding for BOCES Increases READ Act funding
2014 Legislative SessionHB14-1298 –School Finance Act
2012-13 REVISED Budget RequestTotal Program Funding - School Finance Act$5,184.0Billion
State General Fund, $3,183.97 , 54%
Other State Funds, $769.36 , 13%
Property Tax, $1,844.57 , 31%
Specific Ownership, $135.44 , 2%
2014-15 Total Program Funding - School Finance Act
$5.933 Billion
in millions
Estimated Change Total
Pupil Growth* 14,305 845,136
At-Risk Growth 4,276 309,537
Inflation Estimate 2.8% NA
Base Per Pupil Funding $166.72 $6,121.00
AssumptionsFY2014-15 Final Budget
*Includes 5,000 additional Preschool Slots
2013-14Actual
2014-15Final Budget Change
Total Program prior to Negative Factor(Growth & Inflation)
$6,531,213,075 $6,827,646,456 $296,433,381
Negative Factor (1,004,279,325) (894,302,068) (109,977,257)
Revised Total Program $5,526,933,750 $5,933,344,388 $406,410,638
Negative Factor Percentage -15.42% -13.15% 2.27%
Average Per Pupil Funding $6,652.30 $7,020.58 $368.28
AssumptionsFY2014-15 Final Budget
The gaps in the bars represents the negative factor. For 2014-15 it is 13.15% or $894 million.
State of ColoradoTotal Program Funding
2008-09Actual
2009-10 Actual
2010-11 Actual
2011-12 Actual
2012-13 Actual
2013-14 Actual
2014-15FinalBudget
Total Pro-gram Prior to Leg-islative Ac-tions
5354796950.12
5717292422.82
5822311211.91
6006480948.51
6309364346.32
6531213075.4
6827646455.931
Total Pro-gram Less Rescis-sions/Leg-islative Ac-tions
5347325784.05
5586087038.73
5439748515.97
5232445846.92
5297963175.74999
5526933749.65
5933344388.021
$500.0
$1,500.0
$2,500.0
$3,500.0
$4,500.0
$5,500.0
$6,500.0
State of ColoradoTotal Program Funding
in millionsGaps represent rescissions and leg-islative actions.
Gap represents negative factor of 13.15% or $894
million
Increase of $347 million between 2009-10 and 2014-15
Similar to Total Program, the gaps in the bars represents the effect of the negative factor.
For 2014-15, the effect is $1,058 in the statewide average per pupil funding.
State of ColoradoAverage Per Pupil Funding
2008-09Actual
2009-10 Actual
2010-11 Actual
2011-12 Actual
2012-13 Actual
2013-14Actual
2014-15FinalBudget
Average Per Pupil Funding Before Legisla-tive Ac-tions
6881.81357522936
7241.69353334771
7290.57812636554
7432.48678136726
7716.51 7861.06 8078.75
Actual Average Per Pupil Funding
6872.21187182917
7075.50487073662
6813.27467087429
6474.68707964523
6479.54200125067
6652.29841609127
7020.57939553042
$500
$1,500
$2,500
$3,500
$4,500
$5,500
$6,500
$7,500
State of ColoradoAverage Per Pupil Funding
Gaps represent rescis-sions and legislative ac-tions.
Gaps represent rescissions and legislative actions.
In conjunction with HB14-1298 reduces negative factor by $110M
Charter SchoolsAutomatic waivers, contracts & applicationsAmount of funds for charter school facilities increased from $7M to
$13M for 2014-15, then $20M each year afterAdditional 12.5% of marijuana excise tax to charter school facilitiesDebt reserve fund
Financial Transparency Report on additional local revenues distributed to schools READ Act increased funding
With HB14-1298, total increase is $18M for total of $34M
2014 Legislative SessionHB14-1292 –Student Success
Act
Financial Policies and Procedures Advisory Committee (FPP) makes recommendation to the State Board regarding the reporting of revenues
Department issues RFP for creation of web view that reports expenditures for school sites, districts, CSI and BOCES that ensures clarity and comparabilityDistricts post information on their websiteContractor will compile all district information into one viewData is not submitted by CDE to contractor In place by July 1, 2017 for FY2015-16 data$3M appropriated to do the work and establish contract
HB14-1292 –Student Success Act
Financial Transparency
When contracted website up in July 2017, the following reports are no longer necessary on district websites:Quarterly financial statementsCheck registers, credit, debit and purchase card statements Investment performance reports
Districts will be required to post the 2015-16 pipeline submissions to district website “actual expenditures, including but not limited to actual salary
expenditures and actual benefit expenditures reported by job category specified in the standard chart of accounts, at the local education provider level and at the school-site level.”
FPP will specify the date postings will be due
HB14-1292 –Student Success Act
Financial Transparency
By July 1, 2015, FPP will create a template that all districts must use to post all of the transparency information including site-level reports
Standardized web page that all districts must use – must be uniformly used by all districts
District website used for 2015-16 financial data
HB14-1292 –Student Success Act
Financial Transparency
2014-15 reporting requirement – additional local property tax revenue – mill levy overridesHow much is distributed to schools of the district
Department will compile the report Districts and charter schools review report prior to publication District or charter school may request an addendum
Overall distribution by district to charter schools Capital construction and facilities Funding for technology Other funding
Financial Policies and Procedures CommitteeReport information through Fund 90 – informational items
HB14-1292 –Student Success Act
Reporting of Local Revenues
Looking Ahead – 2015-16
HB14-1298 sets starting point for 2015-16 budget
States that negative factor will not increase from 2014-15 levels
Fund growth and inflation, no change in negative factor
Governor can propose adjustments
General Assembly will set final budget
HB14-1298 Moving Forward
November, 2014 Governor Submits Budget Request for 2015-16 THIS IS ONLY A PROPOSAL!
Late November/December 2014
Joint Budget Committee Hearings with DepartmentThe JBC hears about the 2015-16 Budget Request from the Department and seeks any information
January 2015 Governor Submits Supplemental Budget Request for 2014-15 Adjusts the Current Year Budget for actual Pupil Counts, AVs, etc.
Governor Submits Budget Amendments for next budget yearRevised estimates for next year’s students, AVs, etc based on actual
Spring 2015 JBC Develops State Budget – Figure Setting & Long Bill – pass by GAHB14-1298 sets starting point – no change in negative factor
Spring 2015 School Finance Bill Introduced and passedAdjusts the Long Bill numbers
2015 Legislative Session