CEA Statement on Increased Budget Stabilization Factor Buy-Down in Proposed School Finance Act

FOR IMMEDIATE RELEASE

April 17, 2019

DENVER – Statement from Amie Baca-Oehlert, president of the Colorado Education Association, on the proposed $25 million increase to the budget stabilization factor buy-down in the Public School Finance Act (SB-246) introduced yesterday in the Senate:

“Our 38,000 members are pleased that the Public School Finance Act includes an additional $25 million reduction to the budget stabilization factor, bringing the total buy-down to $102 million for the 2019-20 school year. We’re grateful to Senator Nancy Todd for her work in making sure the anticipated $107.6 million from the proposed residential assessment rate will go toward funding critical education services. The $25 million in one-time funds for rural schools and $5 million for behavioral health needs also included are desperately needed as well. Students would benefit from additional Special Education funding should more revenue become available. We now call on lawmakers to pass the proposed legislation as a first step toward reversing the chronic underfunding of Colorado public schools over the last decade.”

# # #