Colorado updates school formula
(CO) — Governor Jared Polis signed a landmark bipartisan bill on Thursday, May 23, to help Colorado students.
HB24-1448 would update Colorado's school finance formula, which hasn't been significantly updated in 30 years. The current formula is based on district-centric factors, not student need. The new formula puts students first and takes into account size, online funding, area factors, cost of living, at-risk funding and more.
“With historic cuts to the Budget Stabilization Factor, now is the time to update Colorado's 30-year-old inequitable school finance formula to better reflect our state's values,” said Deputy Majority Leader Jennifer Bacon. “When it comes to public education in Colorado, we are not meeting the needs of our most vulnerable students, including at-risk students, English language learners and special education students. This is the best opportunity in decades to put additional funding into the school districts and classrooms that serve the students with the highest needs. Investing in quality public education is an investment in our future, and I am incredibly proud to champion legislation that prioritizes learning outcomes and opportunity for every child in our state.”
The latest legislation implements the recommendations of the School Finance Task Force. The new formula is simpler and more focused on student needs. The School Finance Simulator allows you to see for yourself how the new formula will affect your district.
Beginning in the 2030-2031 school year, a new formula will determine the total annual program amount for each school district and each charter school.
The charter school annual program for each district and institute for the 2025-26 through 2029-30 school years will be determined by calculating each district and institute's total annual program amount based on the new formula and the expired formula.
