Public School Finance

The act:

• Increases the statewide base per pupil funding for the 2024-25 budget year by $419.97 to account for inflation and sets the new statewide base per pupil funding amount of $8,496.38 for the 2024-25 budget year; and
• Sets the total program funding for the 2024-25 budget year for all school districts and institute charter schools to not less than $9,735,767,429.

The act repeals the total program reserve fund (fund) on July 1, 2025.

The act clarifies that for the 2025-26 budget year, and each budget year thereafter, revenue collected from mills that had previously been deposited in the fund by a school district are available to the school district to fund the costs of providing public education. The money is budgeted and expended in the school district's discretion.

The act adds rural funding to the district's total program formula to provide additional funding to small rural districts or large rural districts, as defined in the act.

The act requires the state treasurer to transfer $15,715,539 from the state education fund to the mill levy override match fund.

Current law requires a new at-risk measure in the public school funding formula to be implemented in the 2024-25 budget year. The act extends the implementation of this requirement to the 2025-26 budget year.

For the 2024-25 budget year, a school district's at-risk funding is the greater of the school district's at-risk funding amount for the 2023-24 budget year or the 2024-25 budget year.

Current law requires a qualified third-party evaluator (evaluator) who facilitates a facility school work group (work group) to submit a report to the work group and the office of facility schools by September 1, 2025. The department of education (department) is required to submit the evaluator's report to the joint budget committee by October 1, 2025. The act extends the report deadlines to September 1, 2026, and October 1, 2026, respectively.

To be considered for a special education high-cost grant, current law requires the consideration of an administrative unit's annual audited operating expenses for the preceding budget year. The act allows an administrative unit's annual audited operating expenses for one year prior to the preceding budget year to be considered if the annual audited operating expenses for the most recent preceding budget year are not available.

Current law requires a school district to receive the daily rate for education services provided by approved facility schools for a juvenile who is held in a jail or facility and receives at least 4 hours of educational services per week from the school district. The act changes the daily rate to the rate for educational services provided by the Colorado school for the deaf and the blind or the education program operated by the Colorado mental health institute at Pueblo or Fort Logan.

The act increases the cap on how much can be spent on administration for the ninth-grade success grant program from 5% to 8%.

The act clarifies that a student with disabilities (student) who receives transition services and has postsecondary goals outlined in the student's individualized education program is eligible for concurrent enrollment courses.

The act allows the educator licensure cash fund to be exempt from the limitations on the amount of uncommited reserves that may be maintained in a cash fund.

For the 2024-25 state fiscal year, $32,878,255 is appropriated to the department from the state education fund to implement the act. For the 2024-25 state fiscal year, $15,715,539 is appropriated to the department from the mill levy override match fund for mill levy override matching.

APPROVED by Governor May 23, 2024

EFFECTIVE May 23, 2024
(Note: This summary applies to this bill as enacted.)