CASBO 10-8-2015 Chart of Accounts Website Resources Audit/Pipeline Basics New Edits/Reports Manual Checklist Accreditation Report Financial Transparency 1

CASBO 10-8-2015 Pupil Count Total Program Funding Assessed Valuations and Mill Levies Critical Dates Questions 2

Red binders at back of room Chart of Accounts Red binders at back of room Chart of Accounts is updated for FY15-16 Available in Word and Excel State and federal grant pages updated Summary of annual changes – helpful 3

Website Resources http://www.cde.state.co.us/cdefinance All things Public School Finance are located on the CDE website: http://www.cde.state.co.us/cdefinance 4

Website Resources Financial December Pipeline data is submitted here: https://cdx.cde.state.co.us/pipeline   Accreditation Report:  http://www.cde.state.co.us/cdefinance/Accreditation  Chart of Accounts: http://www.cde.state.co.us/cdefinance/sfCOA 5

Website Resources Financial Data Warehouse Report: http://www.cde.state.co.us/cdefinance/FinancialReportingFY2014-15 Data Pipeline Figures: Data Pipeline Quick Reference: Financial Data Reconciliation Checklist: 6

Audit/Pipeline Basics We are now into the third year of Pipeline Enhanced servers at CDE should make the Pipeline submissions faster District personnel for all Pipeline collections are assigned and controlled by the district CDE does not assign passwords Local Access Managers (LAMs) assign passwords The “Financial December” Pipeline collection has been open since early August 7

Audit/Pipeline Basics FY 14-15 New Edits There are several new edits which require all districts to report Voter Approved Mill Levy Override information – if you do not have Voter Approved Mill Levy Overrides, you report zero 8

Audit/Pipeline Basics Voter Approved Mill Levy Override Information There are several new edits which require all districts to report Voter Approved Mill Levy Override information – if you do not have Voter Approved Mill Levy Overrides, you report zero Fund 90, Source 1170 – Amount Authorized Fund 90, Source 1171 – Amount Collected Fund 90, Source 1172 – Amount Distributed to Charters Fund 90, Source 1173 – Amount Distributed to Non-Charters Fund 90, Source 1174 – Amount Retained by District All this information feeds into a new cognos report: Voter Approved Mill Levy Override Report 9

Audit/Pipeline Basics Financial Data Reconciliation Checklist Before you approve your FY14-15 Financial December pipeline data and submit your annual financial statement (audit), the Financial Data Reconciliation Checklist may be used to verify pipeline data, ensure all required documents are completed accurately, and ensure other review items are correct and current. 10

Audit/Pipeline Basics Assurances for Financial Accreditation Formerly Accreditation Checklist http://www.cde.state.co.us/cdefinance/Accreditation 11

Audit/Pipeline Basics 7/4/2018 Audit/Pipeline Basics Audits Due 12-31-2015: Audits must contain a “FINAL” version of the Audit Integrity Report CDE Mailing Address: Colorado Department of Education School Finance Division 201 E. Colfax Avenue, Room 206 Denver, CO  80203 Preferably, submit electronically to schoolfinance@cde.state.co.us.   12

Audit/Pipeline Basics 7/4/2018 Audit/Pipeline Basics Audits Due 12-31-2015 State Auditor’s Mailing Address: Office of the State Auditor Local Government Division 1525 Sherman St., 7th Floor Denver, CO 80203 Preferably, submit audits electronically to osa.lg@state.co.us. 13

School Finance Contacts Adam Williams: 303-866-6843: williams_a@cde.state.co.us Yolanda Lucero: 303-866-6847: lucero_y@cde.state.co.us Kirk Weber: 303-866-6610: weber_k@cde.state.co.us Paul Reynolds: 303-866-6137: reynolds_p@cde.state.co.us

Financial Transparency: HB 14-1292 and HB15-1321 Beginning July 1, 2015 Local Education Providers (LEP: School Districts, BOCES, Charter Schools and the Charter School Institute) must begin following the financial transparency requirements set forth in HB14-1292 and HB15-1321 15

July 1, 2015 In order to demonstrate compliance with financial transparency requirements, the Financial Policies and Procedures Committee (FPP) approved two LEA homepage options: Begin using the Financial Transparency Icon on your website homepage as a link to the July 1, 2015 Financial Transparency Template or Ensure the words “Financial Transparency” are clearly visible on your website homepage – as a link to the required July 1, 2015 Financial Transparency Template On your website homepage, the Financial Transparency icon, or the words “Financial Transparency” must link to your Financial Transparency Webpage – which follows the Standard Webpage Template 16

Financial Transparency: Icon Approved by FPP 17

Website Homepage Example with Icon 18

Website Homepage Example with words “Financial Transparency” 19

I 20

Links to Required Documents: current year, previous two years 21

Financial Transparency Web Resources The Financial Transparency Icon, the required website templates and other Financial Transparency information is on the CDE website: http://www.cde.state.co.us/cdefinance/sfFinancialTransparency

Financial Transparency Basic Considerations Guide The “Basic Considerations” guide is designed to provide information and help Local Education Providers (LEP) understand updated financial transparency requirements resulting from legislation in both 2014 and 2015 resulting from HB14-1292 and HB15-1321 Primarily: CRS 22-44-105 CRS 22-44-304

Pupil Counts Funding is based on annual October pupil count 7/4/2018 Pupil Counts Funding is based on annual October pupil count Pupils in grades 1 through 12 are counted as either full-time or part-time. Kindergarten, special education preschool and CPP/ECARE are counted as part-time. A district can be funded on either the actual pupil count or the average of current year and up to 4 prior years counts. Count day window 5 days prior and 5 days after official count date – typically October 1 unless weekend or religious holiday. If absent, district can provide documentation that student re-established attendance prior to October 31.

Total Program Funding Formula Total Program Funding equals: =(funded pupil count x formula per pupil funding) + at-risk funding + online & ASCENT funding After Total Program is calculated, the Negative Factor is Applied

Base Per Pupil Funding 2014-15 Base Funding - $6,121.00 2015-16 Increase of $166.72 Inflation of 2.8% 2015-16 Base Funding - $6,292.39 Increase of $171.39

Formula Per Pupil Funding - Factors Base per pupil funding is adjusted by factors Cost of Living Personnel & Non-personnel costs Size of district Determine At-Risk Funding, On-line and ASCENT Funding Once Total Program is determined, the negative factor is applied 2015-16 – 12.13% Once the base funding has been set, the base has factors applied. These factors determine the per pupil funding amount by district and each district is different. Cost of living – factor that attempts to reflect the differences between districts for the cost of housing, goods and services. Aspen has a higher cost of living factor than a small rural district. Personnel costs factor – based on enrollment and incorporates cost of salaries and benefits for district personnel. Size factor – driven by enrollment and attempts to reflect purchasing power within districts. Small districts have greater size factor adjustments. At-risk funding – based on the numbers of students qualifying for free lunches On-Line funding – based on the number of students enrolled in an online program within the district. There are various rules that make a student eligible to be counted. Once these factors are applied to the base, a total per pupil funding amount is determined for district. This amount is then multiplied by the district’s funded pupil count to arrive at total program funding.

Property Tax & Assessed Values Odd Years – reassessment year for counties 2015 is reassessment year In August, assessors send preliminary AVs to districts In December, assessors send final AVs to districts and CDE AVs are plugged into the school finance formula and the local share is determined based upon mill levies Once the local share is determined (property tax plus specific ownership tax), the state “backfills” the rest of total program Legislative Council bases estimates for the following year on the December actuals – built into School Finance Act

Property Tax & Assessed Values Mill levies Equals one-tenth of one percent (.001) Assessed values based on percentage of actual value Residential – 7.96% of actual Most other (commercial) – 29% In 2007-08, total program mill levies were frozen at 27 mills or less Four districts that have not passed TABOR elections are a bit different AV X mill levy = property taxes $10,000,000 AV X .027 mills = $270,000 property tax

Specific Ownership Taxes (SOT) SOT are paid on motor vehicles – collected by counties Counties distribute SOT to all taxing entities in the county Distributed based on the proportion of property taxes collected by each taxing entity Property Taxes + Specific Ownership Taxes = Local Share Total Program – Local Share = State Share

2016 Legislative Session November, 2015 Governor Submits Budget Request for 2016-17 THIS IS ONLY A PROPOSAL! Late November/December 2015 Joint Budget Committee Hearings with Department The JBC hears about the 2016-17 Budget Request from the Department and seeks any information January 2016 Governor Submits Supplemental Budget Request for 2015-16 Adjusts the Current Year Budget for actual Pupil Counts, AVs, etc. Governor Submits Budget Amendments for next budget year Revised estimates for next year’s students, AVs, etc based on actual Spring 2016 JBC Develops State Budget – Figure Setting & Long Bill – pass by GA SB15-267 sets starting point – no change in negative factor School Finance Bill Introduced and passed Adjusts the Long Bill numbers

Critical Dates June 30 August 15 October 1 November 10 District BOE adopts next fiscal year budget by resolution. NCLB and IDEA Consolidated Federal Applications and Budgets due to CDE August 15 Transportation Reimbursement Form CDE-40 due to CDE October 1 Official pupil count date November 10 Pupil count membership counts must be completed

Critical Dates (continued) December 15 Districts must certify mill levies to county commissioners December 31 Data pipeline submissions due. Audits finalized. January 31 Last day for district to modify and readopt current year budget 25th of each Month State share payments are deposited

Website Resources State Share Payment Reports and Calculation Worksheets can be found here: http://www.cde.state.co.us/cdefinance/publicschoolfinanceactof1994-fy2015-16