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.

Funding SourceFY 2007
Approp.
FY 2008
Approp.
FY 2007
Revenue
FY 2008
Revenue
Uniform School Fund$2,023,408,445$0$0$0
Uniform School Fund, One-$31,100,000$0$0$0
Uniform School Fund Restr$15,000,000$0$0$0
Local Revenue$470,804,680$0$0$0
   Total
$2,540,313,125

$0

$0

$0

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