Poudre School District’s Board of Education unanimously approved PSD’s budget for the 2019-20 fiscal year during its June 11 meeting.
The adopted fiscal year 2020 budget totals about $310 million. It aligns with Board of Education focus areas, including the social-emotional well-being of students and school security, among others.
The budget includes about $1.3 million for school-based budgets and program-specific needs, which include the hiring of additional personnel. This figure includes but isn’t limited to funding to hire one additional safety officer, one family liaison, and one school psychologist, all that support PSD’s goals of supporting student equity, social emotional health, and safety. Other costs include additional bus operators, to respond to growth, and a pay increase for PSD substitute teachers.
PSD’s updated employee agreement is ratified by the employee groups following negotiations and approved annually by the Board of Education. In fiscal year 2020, all employees will receive a 2.05 percent cost-of-living, or COLA, increase; this equates to about $4 million. There is also a 2.46 percent increase (about $5 million total) for additional education (known as lane changes) and years of experience (known as steps) for licensed staff, and equivalent market adjustments and range movement for classified, professional, and administrative staff.
PSD will also fund a five percent increase in health and dental contributions.
PSD experienced several cost increases in the 2019-20 fiscal year, including $2.7 million for charter schools, based on a per-pupil revenue increase, student growth, and mill levy override sharing; a $100,000 utilities increase; and a $600,000 risk management increase, caused by property insurance premium increases driven by hail storms across the Front Range. State funding, combined with money from property taxes from voter-approved mill levy overrides, makes up PSD's general fund.
Under the School Finance Act, the State of Colorado will provide funding increases for both inflation and student growth. PSD will in the next fiscal year receive $8,050.21 in state revenue for each student, referred to as per-pupil funding. The State still Constitutionally owes PSD and other Colorado school districts hundreds of millions in revenue; that total is referred to as the budget-stabilization or “Negative Factor.”
Developing the District’s budget is a complex process that takes months of fine-tuning based on a myriad of factors including the state formula – which is determined by the state legislature each year – enrollment projections, and the residential assessment rate. The budget is developed with input from district employees and the District Accountability Committee, which includes parent and community representatives.
PSD is proud to be a fiscally responsible steward of taxpayer dollars. As an organization, PSD does not take that responsibility lightly.
For more information about the adopted FY20 budget, go to PSD's Fiscal Transparency web page.