Fiscal Note

SB0002S02 - Minimum School Program and Public Education Budget Amendments

State Impact:
Enactment of this bill appropriates $946,200 from the General Fund, ($2,048,016,623) from the Uniform School Fund, $2,349,878,586 from the Education Fund, $12,708,000 from the Education Fund, one-time, and $1,000 from federal, restricted and dedicated credits revenue to support FY 2011 expenditures in the Minimum School Program, School Building Program, and state education agencies as outlined in the bill. Further, enactment of this bill allows for a student enrollment increase in charter schools of 6,000 in FY 2012. The cost associated with these additional students, based on the current statutory formula is approximately $9,600,000. The overall cost may increase or decrease depending on the actual number of students that are expected to enroll in charter schools in FY 2012 and the impact of the formula changes.

Funding SourceFY 2010
Approp.
FY 2011
Approp.
FY 2012
Approp.
FY 2010
Revenue
FY 2011
Revenue
FY 2012
Revenue
General Fund$0$946,200$946,200$0$0$0
Uniform School Fund$0($2,048,016,623)$0$0$0$0
Education Fund$0$2,349,878,586$2,349,878,586$0$0$0
Education Fund, One-Time$0$12,708,000$0$0$0$0
Other$0$1,000$1,000$0$0$0
   Total
$0

$315,517,163

$2,350,825,786

$0

$0

$0

Individual, Business and/or Local Impact:
School districts, charter schools, and state education agencies may see an increase or decrease in state funding levels depending on their participation in programs contained in this bill.

3/11/2010, 8:30:04 PM, Lead Analyst: Leishman, B./Attny: AOSOffice of the Legislative Fiscal Analyst