Colorado updates finance school formula

(COLORADO) — Governor Jared Polis signed a monumental, bipartisan bill to support Colorado students on Thursday, May 23.

The law, HB24-1448 , will update Colorado’s school finance formula which has not been significantly updated in 30 years. The current formula is built around district-centered factors rather than student needs. The new formula focuses on putting students first, it considers size, online funding, locale factors, cost of living, and at-risk fundings amongst other factors,

“With our historic buy-down of the budget stabilization factor, this is the time to update Colorado’s 30-year-old inequitable school finance formula to better reflect our state’s values,” said Assistant Majority Leader Jennifer Bacon. “When it comes to public education in Colorado, we have not been meeting the needs of our most vulnerable students, including our at-risk, English Language Learners, and special education students. This is the best opportunity we’ve had in decades to direct additional dollars to the districts and classrooms serving students with the greatest needs. When we invest in high-quality public education, we’re investing in our future, and I’m beyond proud to be championing a law that prioritizes student outcomes and opportunity for every child in our state.”

The newest law will implement recommendations of the School Finance Task Force. The new formula is simpler and emphasizes student needs. Individuals can see how each individual school district will be impacted by the new formula with the school finance simulator .

Beginning in the 2030-2031 fiscal year, the new formula will determine each district’s and institute charter school’s annual total program amount.

For the 2025-26 through 2029-30 fiscal year, each district’s and institute charter school’s annual program will be determined by calculating each district’s and institute’s annual total program amount under the new formula and expiring formula.

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