State school budget short, despite $9 billion package

BY JASON GONZALES CHALKBEAT COLORADO

Gov. Jared Polis this month signed into law Colorado’s school nance act, laying the path toward eliminating a state practice used since the Great Recession that holds back money from schools.

In the 2023-24 school year, the state will spend more than $9 billion on education and withhold $141 million from schools. Statewide, spending per student next year will increase to $10,614, $1,000 more per student than this year.

e school nance bill also will fund state-authorized charter schools at a level similar to other schools starting in 2023-24, adding more than $42 million for those schools. State-authorized charter schools don’t get a cut of locally raised tax dollars as district schools do.

Rural schools will get $30 million more to help with their higher costs related to smaller student populations. Colorado rural schools have gotten similar state aid since 2017.

Polis, surrounded by lawmakers, educators, and students at ornton Elementary School, also signed two bills on May 15 that will boost special education funding and provide statewide support for math instruction.

Together, the bills represent a sig- ni cant investment in K-12 education statewide and a promise to fully meet the constitutionally set minimum for education spending by the 2024-25 school year. e constitution requires Colorado to increase funding yearly by the rate of student population growth plus in ation. e state withholding, however, has meant schools haven’t gotten what’s required by its school nance formula.

Polis said the school nance bill means a stronger education system for Colorado, including better teacher pay, smaller class sizes, and more funding for the arts.

“We are catching up to where we should be for all public schools next year, and that’s very exciting news for Colorado kids,” he said during the bill signing.

Since 2009, lawmakers have diverted money that should go to K-12 schools to fund other priorities, a practice known as the Budget Stabilization Factor. is year’s school nance law, however, aims to eliminate that practice by the next budget year. e state has withheld over $10 billion from schools since 2009.

State Sen. Rachel Zenzinger, an Arvada Democrat who chairs the Joint Budget Committee that helps craft the budget and school nance act, said the state will also meet its obligation to fully fund its share of special education.