Fiscal Note

SB0003 - Minimum School Program Base Budget Amendments

State Impact:
For fiscal year 2007 this bill appropriates $1,875,487,040 from Uniform School Funds; $9,920,000 from Uniform School Fund restricted - Interest and Dividends Account; and $470,804,680 from Local Revenues for a total of $2,356,211,720. 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 2007 for certain purposes. The Minimum School Program is appropriated $2,328,922,820 of which $1,848,198,140 is from the Uniform School Fund; $9,920,000 from the Uniform School fund - Interest and Dividends Account; and an estimated $470,804,680 from Local revenues. Funding for the Minimum School Program is an increase of $74,498,543 from the current 2006 fiscal year estimated expenditures of $2,254,424,277. The Uniform School Fund appropriation is $61,074,865 more than the FY 2006 estimated funding and Local Funds are an increase of $24,002,678. The Minimum School Program funding is a 3.3 percent increase over fiscal year 2006. The Weighted Pupil Unit value remains at $2,280. Funding increases in the bill include: Student Growth, $59,436,743, Charter School growth, $8,992,500; and Voted and Board Leeway program growth, $16,648,300 The basic tax rate for local district participation in the State Supported Minimum School program has been adjusted from .001702 to .001593.

Individual and Business Impact:
Individuals and Businesses may benefit from associated dealings with school districts.

Office of the Legislative Fiscal Analyst
1/13/2006, 5:57:40 PM