Fiscal Note

SB0005 - Amendments To The Minimum School Program Budget

State Impact:
For fiscal year 2007 this bill appropriates $2,023,408,445 in on going Uniform School Funds; $31,100,000 in one time Uniform School Funds; $15,000,000 from Uniform School Fund restricted – Interest and Dividends Account; and $470,804,680 from Local Revenues for a total of $2,540,313,125. Included in the appropriations is $27,288,900 in on going Uniform School Funds and $10,000,000 in one time Uniform School Funds for School Building Programs. The bill allows use of non-lapsing balances in FY 2006 and FY 2007 for certain purposes. The Minimum School Program is appropriated $2,503,024,225 of which $1,996,119,545 is from on going Uniform School Funds and $21,100,000 from one time Uniform School Funds; $15,000,000 from Uniform School Fund restricted Interest and Dividends Account; and $470,804,680 from Local revenue. Funding for the Minimum School Program is an increase of $239,519,948 from the current 2006 fiscal year estimated expenditures of $$2,263,504,277. The Uniform School Fund appropriation is $208,996,270 more than the FY 2006 estimated funding and Local Funds are an increase of $24,002,678. The Minimum School Program funding is a 10.6 percent increase over fiscal year 2006. The Weighted Pupil Unit value is increased from $2,280 to $2,417 for an increase of 6.0 percent. Funding increases in the bill include: Student Growth, $61,503,831; six percent weighted pupil unit increase to include increased costs of operation and maintenance (including fuel and power) cost of living increases and increased benefit costs, $121,049,178; Retirement rate increase, $11,542,485; Charter School growth, $8,992,500; Voted and Board Leeway programs, $26,426,475; Electronic High School growth, $300,000; Accelerated Learning – Concurrent Enrollment, $2,331,700; Adult Education, $1,000,000; and School Land Trust Program, $5,080,000. One time appropriations included in the bill are: Pupil Transportation, $5,000,000; Library Books and Materials, $2,000,000; Teacher Supplies and Materials, $7,000,000; Charter School Funding, $7,100,000; and Capital Outlay Enrollment Growth Program, $10,000,000; for total one time appropriations of $31,100,000. 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 Business can benefit to the extent of their involvement with Public Education.

Office of the Legislative Fiscal Analyst
2/27/2006, 5:41:14 PM