Fiscal Note

HB0003 - Minimum School Program Act Amendments

State Impact:
For fiscal year 2006 this bill appropriates $1,801,000,086 from Uniform School Funds; $9,920,000 from Uniform School Fund restricted - Interest and Dividends Account; and $446,802,002 from Local Revenues for a total of $2,257,722,088. Included in the appropriations are $27,288,900 in Uniform School Funds for School Building Programs. The bill allows use of non-lapsing balances in FY 2005 for certain purposes. The Minimum School Program is appropriated $2,230,433,188 of which $1,773,711,186 is from the Uniform School Fund; $9,920,000 and an estimated $446,802,002 from Local revenues. Funding for the Minimum School Program is an increase of $106,793,700 from the current 2005 fiscal year estimated expenditures of $2,123,639,488. The Uniform School Fund appropriation is $95,591,675 more than the FY 2005 estimated funding and Local Funds are an increase of $26,902,425. The Minimum School Program funding is a 5.0 percent increase over fiscal year 2005. The Weighted Pupil Unit value is increased from $2,182 to $2,258 for an increase of 3.5 percent. Funding increases in the bill include: Student Growth, $28,518,400; compensation increase, $65,108,651; Charter Schools, $8,009,500; Voted and Board Leeway programs, $20,020,349; Electronic High School growth, $300,000; and Youth In Custody growth, $912,200. The basic tax rate for local district participation in the State Supported Minimum School program has been adjusted from .001754 to .001702.

Individual and Business Impact:
Individual and Business can benefit to the extent of their envolvment with Public Education.

Office of the Legislative Fiscal Analyst
2/14/2005, 2:30:34 PM