COBI 2015 - School Building Programs

Overview
Issues
Performance
Financials

Sources Uses

FY 2016 Appropriation

The School Building Programs assist school districts in the construction or renovation of school facilities and paying debt service.

Funding History

Funding Issues

Capital Funding Equalization

The program provides state funding to assist school districts with capital maintenance, upgrades, and new construction. Funding is distributed to school districts with low tax bases per student.

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $33,249,700 from all sources for School Building Programs. This is a 129.3 percent increase from Fiscal Year 2015 revised estimated amounts from all sources. The total includes $14,499,700 from the General/Education Funds, a change of 0 percent from revised Fiscal Year 2015 estimates.

Appropriation Adjustments

In addition to statewide compensation and internal service fund cost increases, the following appropriation adjustments were made during the 2015 General Session:

DescriptionOngoingOne-Time Property Tax Equalization Amendments$18,750,000$0

OngoingOne-TimeFinancing Source

$18,750,000$0EFR - Minimum Basic Growth Account

Enactment of this legislation could increase budgeted local revenue to the Minimum School Program by $75,000,000 annually. Growth in local revenue decreases Education Fund amounts used to equalize the Basic School Program. This bill transfers the Education Fund savings into a newly created Minimum Basic Growth Account. Enactment of this legislation could increase the local property tax component of the Basic School Program by $75,000,000 annually. The result is a decrease in Education Fund expenditures used to equalize the Basic School Program equal to $75,000,000 annually. The Education Fund expenditure decrease is transferred to a newly created Minimum Basic Growth Account, which is then expended using the Voted and Board Levy, Capital Foundation and Enrollment Growth formulas.

Display By:

Program

Funding Source

Expenditure Category

Appropriation Type:

Appropriation History by

Programs	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Capital Outlay Foundation Program	12,610,900	12,510,900	12,610,900	12,610,900	12,610,900	0	12,610,900	15,000,000	27,610,900
Capital Outlay Enrollment Growth Program	1,888,800	1,888,800	1,888,800	1,888,800	1,888,800	0	1,888,800	3,750,000	5,638,800
Total	$14,499,700	$14,399,700	$14,499,700	$14,499,700	$14,499,700	$0	$14,499,700	$18,750,000	$33,249,700

Sources of Finance	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Education Fund	14,499,700	14,499,700	14,499,700	14,499,700	14,499,700	0	14,499,700	0	14,499,700
Education Fund, One-time	0	(100,000)	0	0	0	0	0	0	0
Dedicated Credits Revenue	0	15,800	0	0	0	0	0	0	0
EFR - Minimum Basic Growth Account	0	0	0	0	0	0	0	18,750,000	18,750,000
Lapsing Balance	0	(15,800)	0	0	0	0	0	0	0
Total	$14,499,700	$14,399,700	$14,499,700	$14,499,700	$14,499,700	$0	$14,499,700	$18,750,000	$33,249,700

Show Table | Show Additional Information

Categories of Expenditure	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Other Charges/Pass Thru	14,499,700	14,399,700	14,499,700	14,499,700	14,499,700	0	14,499,700	18,750,000	33,249,700
Total	$14,499,700	$14,399,700	$14,499,700	$14,499,700	$14,499,700	$0	$14,499,700	$18,750,000	$33,249,700

COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.