Adjustments To School Funding Fiscal Year 2020-21

The actual funded pupil count and the actual at-risk pupil count for the 2020-21 budget year were lower than anticipated when the appropriation amount was established during the 2020 legislative session, resulting in a decrease in total program funding for the 2020-21 budget year. In addition, local property tax revenue and specific ownership tax revenue were less than anticipated, resulting in a decrease in the local share of total program funding.The act declares the general assembly's intent to maintain total program funding at the dollar amount of the original appropriation made during the 2020 legislative session, thereby reducing the budget stabilization factor.The act appropriates additional funding for the 2020-21 budget year for districts that experienced a percentage decrease in total program funding from that estimated during the 2020 legislative session that was greater than the district's percentage decrease in funded pupil count from that estimated during the 2020 legislative session. In addition, the act includes additional funding for districts that have an overall reduction in total program funding that is more than 2% below the districts' estimated total program funding during the 2020 legislative session.Charter schools in districts that qualify for additional funding receive a per-pupil share of the additional funding. If an institute charter school experiences a reduction in total program funding from that estimated during the 2020 legislative session and is in an accounting district that receives additional funding, the institute charter school receives a per-pupil amount of additional funding.Additionally, the act includes an appropriation for rural school funding pursuant to section 22-54-142.For the 2020-21 state fiscal year, the act appropriates to the department of education:$14,710,777 and $4,578,464 from the general fund for additional state funding for school districts and district charter schools; $569,849 from the general fund for additional state funding for institute charter school; and $25,000,000 from the rural schools cash fund for rural school funding.(Note: This summary applies to this bill as enacted.)