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Overview of the State Education Fund and K-12 Public School Funding

Joint Education Committee

The forecast for the State Education Fund and the level of General Fund appropriations needed to pay for school finance have changed from when the General Assembly adjourned in May 2014. Property values are expected to grow more rapidly over the next few years, helping to boost the local contribution to school finance. Similarly, income tax receipts continue to grow, increasing deposits into the State Education Fund and the General Fund.

The General Assembly is required by the Colorado Constitution to establish and maintain a thorough and uniform system of free public schools, where any person between the ages of 6 and 21 may be educated. At the same time, the constitution places control of public school instruction in locally elected boards of education. Under this system, the legislature provides financial support and establishes statutory guidelines applicable to all school districts, and local school boards determine curricula and instruction.

Pursuant to Section 26-6.5-203, Colorado Revised Statutes. The purpose of this commission is to study issues related to early childhood and school readiness in order to improve the state’s early childhood policies.

State law defines "achievement gap" as the difference in academic achievement attained by student groups on the statewide assessments and "growth gap" as the differences among student groups in the rates of academic growth.1 Achievement gaps are observable between racial or ethnic groups of students in Colorado, as well as between socioeconomic groups and genders. This issue brief provides a statistical overview of the achievement gap in Colorado.

School Finance Funding Comparison With Passage of Both HB 14-1292 and HB 14-1298, FY 2014-15

Current Law vs. Passage of HB 14-1292 and HB 14-1298 Combined

School Finance Funding Comparison With Both HB 14-1292 and HB 14-1298

FY 2014-15 vs FY 2013-14

Remedial education refers to academic courses in higher education intended to improve the basic skills of new or returning college students, so that they are adequately prepared for college-level work. These basic skills courses are typically non-credit courses. This issue brief discusses how students are identified for remediation, the number involved, the cost, and recent innovations intended to reduce the incidence of remediation at higher education institutions in Colorado.

This memorandum provides an overview of K-12 funding within the context of the state's operating budget. In December 2013, about $1.1 billion was transferred from the General Fund to the State Education Fund (SEF). The General Assembly has used some of this one-time money to set funding levels for the 2014-15 budget year, but will have to determine how to use this money for school finance and other K-12 purposes in subsequent years.

Assessments provide teachers, parents, students, policymakers, and other stakeholders in Colorado's education system with a way of measuring student performance against state standards. First administered on a statewide basis in 1997 under the name Colorado Student Assessment Program (CSAP), statewide assessments are designed to provide measurements of students' academic progress and are used to evaluate the effectiveness of teachers, administrators, schools, and districts.

Academic standards provide a broad outline for what students are expected to know and be able to do at the end of each grade level, and for what students should know in order to be prepared to enter college or the workforce by the time they graduate from high school. In Colorado, academic standards are also the basis of the annual statewide assessment.

ESTIMATED VALUE OF SCHOOL FINANCE FACTORS, INCLUDING NEGATIVE FACTOR, FY 2014-15

School District Table

2014 Summary of Major K-12 Education Legislation

House Bill 14-1292 and House Bill 14-1298 amend the Public School Finance Act of 1994 to provide funding for school districts in FY 2014-15. The bills were signed by the Governor on May 21, 2014, and became effective on that date. House Bill 14-1336, the "Long Bill," appropriates most of the state aid distributed to school districts. The following summarizes the primary funding changes contained in these bills.

House Bill 14-1292 and House Bill 14-1298 amend the Public School Finance Act of 1994 to provide funding for school districts in FY 2014-15. The bills were signed by the Governor on May 21, 2014, and became effective on that date. House Bill 14-1336, the "Long Bill," appropriates most of the state aid distributed to school districts. The following summarizes the primary funding changes contained in these bills.

School Finance Funding Comparison Assuming Passage of Both HB 14-1292 and HB 14-1298, FY 2014-15

Current Law vs. Passage of HB 14-1292 and HB 14-1298 Combined

School Finance Funding Comparison Under HB 14-1292, FY 2014-15

Current Law vs. HB 14-1292

School Finance Funding Comparison Under HB 14-1298, FY 2014-15

Current Law vs. HB 14-1298

The following memorandum provides an overview of K-12 funding proposals within the context of the state's operating budget. In December 2013, about $1.1 billion was transferred from the General Fund to the State Education Fund (SEF). The General Assembly will have to determine how to use this one-time money for school finance and other K-12 purposes in the 2014-15 budget year and subsequent years.

House Bill 14-1298 as Introduced FY 2014-15 Compared with FY 2013-14

The forecast for the State Education Fund and the level of General Fund appropriations needed to pay for school finance have changed from when the General Assembly adjourned in May 2013. Property values have stabilized and are expected to grow modestly over the next few years, helping to boost the local contribution to school finance. Similarly, income tax receipts are growing faster than anticipated, increasing deposits into the State Education Fund and the General Fund.

The forecast for the State Education Fund and the level of General Fund appropriations needed to pay for school finance have changed from when the General Assembly adjourned in May 2013. Property values have stabilized and are expected to grow modestly over the next few years, helping to boost the local contribution to school finance. Similarly, income tax receipts are growing faster than anticipated, increasing deposits into the State Education Fund and the General Fund.

Overview of the State Education Fund and K-12 Public School Funding

In July of 2013, Corona Insights was retained to conduct the 2013 Colorado School District Cost of Living Study for the Colorado Legislative Council. This study measures the differences in the cost to purchase a typical “market basket” of goods among the 178 public school districts in the State of Colorado. Final cost of living factors detailed within this study reflect the relative cost differences for all notable sitespecific living expenses (i.e., housing, transportation, goods, services and taxes) among Colorado’s school districts.