Each year, the budget crafted by the Colorado Governor and the state legislature determines how much of the state’s total budget is allocated to education. The portion allocated for K-12 education is then divided among 178 school districts throughout the state using the state’s School Finance Act funding formulas. These formulas determine how much money each district will receive per pupil per year as well as how much of that funding is paid by the state and how much is paid through local taxes. Currently, the state pays an average of about 63 percent of the funding for local school districts, with less than 37 percent coming from local taxes. Based on the funding allocation from the state, each school district decides how to fund its local system.
For 2010-2011 amended budget purposes, the funding formula resulted in a total of $6,635 per pupil revenue for the St. Vrain Valley School District. From this amount, $312 per pupil is transferred to the Capital Reserve and Risk Management Funds, leaving $6,323 per pupil revenue or approximately $161.9 million in General Fund operating funds. Other General Fund revenue sources total about $34.8 million, for a total of $196.7 million.
The funding for the District comes from the following sources: state equalization, property taxes, mill levy override, specific ownership taxes, other state revenue, other local revenue, and federal sources.
Monthly payments from the State of Colorado are made to the District and are funded primarily from state income (personal and corporate) and sales and use tax revenues collected.
Every personal property and commercial property owner in the District pays property taxes to their respective county. A large portion of the collected property taxes go directly toward funding the St. Vrain Valley School District.
Mill Levy Override
Colorado law allows the District to ask voters to approve additional operational funding for the District through local tax increases called mill levy overrides. This additional funding is capped by state law. All override revenues come from increased property taxes. The District’s authorization to raise and expend override revenues does not affect the amount of state funding the District receives. Voters in the St. Vrain Valley School district approved a mill levy override in November of 2008. For additional information visit the 2008 Mill Levy Override & Bond homepage.
Specific Ownership Tax
Vehicle registration taxes are collected by local counties. A portion of the tax is shared with the District. The District's Local Share includes an amount of specific ownership tax revenue equal to the prior budget year's actual amount received.
Any additional revenue the District receives that is not from state or local taxes makes up the final source of funding for the District.
More information on school finances in general can be found on the Colorado Department of Education’s financial website.
|St. Vrain Valley School District • 395 S Pratt Pkwy • Longmont, CO 80501 (303) 776 - 6200|