Finance and Budget

The Finance Department maintains procedures and assures fiscal control; produces financial reports and information to support effective decision making; produces financial projections for long-term planning; and carries out the accounting operations for Poudre School District in a timely manner.

PSD is committed to being transparent stewards of taxpayers' dollars so our constituents can easily access and understand the district's finances. 
 

PSD FY2020-21 Budget

(July 1, 2020 through June 30, 2021)

Due to COVID-19, PSD's budgeting process and approved budget for fiscal year 2020-21 were markedly different than in the past. For details about the budget development process, please visit the 2020-21 Budget Process and FAQ web page. 

You can see the complete FY20-21 budget, adopted June 23 by the Board of Education, here. 

The following is a snapshot of this year's budget:

  • $11.5 million decrease in State of Colorado funding   
    • Estimated total program per-pupil revenue (PPR): $7,658.27
    •  Last fiscal year, PSD received about $8,050 per student. PSD will remain a “floor-funded” district, which means it receives the lowest amount in the state funding formula that districts can receive.
    • In the absence of state funding challenges and the Budget Stabilization factor, total program PPR would have have been an estimated $8,913.59. Cuts from this spring are far from the sole reason the district isn't funded at total program.
       
  • $5.3 million decrease in local funding (specific ownership taxes (i.e. vehicle registrations), property taxes and interest income) 
  • $7.3 million decrease for school-based-budgeting (SBB) allocation reductions  
  • $1.5 million decrease for teacher-capacity funds reallocation 
    • PSD cut $1.5 million from central administration two years ago for possible budget cuts at the time. The anticipated budget shortfall did not come to fruition, so PSD distributed the $1.5 million to schools to use for teacher professional development until it was needed – as it is now – for challenging budgeting times. 
  • $14.7 million increase to implement a PSD salary restructure promised as part of voters’ approval of the 2019 mill levy override, (Ballot Issue 4A). NO money from the 2019 mill levy override was used for administrator or professional staff salaries. 
    • Restructure of the licensed salary schedule 
      • Built-in lane and step increase (based on years of experience and education) for PSD educators 
      • Minimum starting salary for a full-time licensed educator at $44,000 
      • Minimum of $3,000 salary increase for PSD licensed full-time educators; range of salary increases are from $3,000 to $9,563 
      • No cost-of-living increase for licensed staff 
      • Cost includes PERA/FICA 
    • Classified compensation market adjustments 
      • Market adjustments for positions in the instructional support job family, as well as a few in Transportation, school clerical, and Child Nutrition 
      • A 4% movement through the range to maintain competitive wages 
      • No additional market adjustments or movement in the range for classified staff outside of the 4A implementation 
      • Cost includes PERA/FICA 
    • Administrators/Professionals 
      • No revenue from the 2019 mill levy was used for administrator or professional staff salaries 
      • No market adjustments or movement in the range for administrators or professional staff 
      • No cost-of-living increase 
      • PSD will not cover increased PERA rate costs 
  • $2.0 million increase for mental health staffing included in 4A 
  • $1.8 million increase for district portion of Public Employees Retirement Association of Colorado benefits.
  • About $4 million in one-time 2016 mill levy override money used to balance the budget due to state funding cuts  
  • About $3.5 million in one-time carryover sweeps (money leftover in budgets after the fiscal year saved, or carried over to the next fiscal year, for future purchases) 

Learn more on the 2020-21 Budget Process and FAQ web page. 

 

Colorado School Funding Model

School districts receive funding from two sources:

  • State funding formula (property taxes and state funding, which is determined by the state legislature each year)
  • Local revenue (mill levy overrides, property taxes and vehicle registration fees)

Learn how this applies to PSD on the Funding in PSD web page. 


PSD Financial Transparency

More PSD financial information is available on the PSD Fiscal Transparency web page. 

Contact Information

Executive Director of Finance
Dave Montoya | 970.490.3355 | davem@psdschools.org

Director of Finance/Controller
Kera Badalamenti | 970.490.3114 | kbadalam@psdschools.org

Budget Director
Brett Parsons | 970.490.3519 | bparsons@psdschools.org

Administrative Assistant
Danielle Chenoweth | 970.490.3649 | dchenowe@psdschools.org