The proposed 2023-24 fiscal year budget for Greeley Evans School District 6 includes a general fund operating budget of $307 million, a 13.2% increase from the year prior.
The District 6 Board of Education will review the proposal and possibly approve the budget at its Monday evening meeting at the District Administration Building on 9th Avenue. the meeting starts at 6 pm
As proposed, District 6’s operating budget for the new fiscal year beginning July 1 would be $307,009,050.
In the 228-page budget on the District 6 website, the reason for the increase this year — and for the second time in two years — lies in the district receiving more revenue per student from the state through the School Finance Act.
The Public School Finance Act annually outlines how K-12 public schools in Colorado are funded.
District 6 is projected to receive $10,619.98 in per-pupil funding from the state based on 22,261 students.
This per student revenue is slightly more than $1,000 more than the per student revenue the district projected in its proposed budget a year ago. In 2022, District 6 is projected to receive $9,613.19 in per-pupil funding, also known as PPR. This was an increase of $855 from 2021.
Megan Sponsler, Chief Financial Officer, leads the finance team in budget preparation.
District 6 Budget Notes K-12 education comprises approximately 31% of the state’s general fund budget. In fiscal year 2010–11, an additional factor – the negative factor also known as the budget stabilization factor – was included in the school finance formula.
According to the language of the Public School Finance Act earlier this year, this budget stabilization factor requires a reduction in the amount of annual funding the state pays for total program funding for all school district and institute charter schools.
District 6’s budget states that the budget stabilization factor impact on the district since its inception is $238.5 million, meaning that the district has not received the amount it received from the state.
Note: This story is a work in progress and will be updated.
Source: www.bing.com
