2020-21 Budget Planning
Efforts to slow the spread of COVID-19 have largely worked, they have also significantly slowed the economy, greatly diminishing the amount of revenue to the State of Colorado and the Boulder Valley School District.
As BVSD faces the prospect of budget reductions, we intend to be transparent and provide the public with opportunities for feedback throughout the process
On Tuesday, May 19, our Board of Education met for a special work session on the budget.
Watch the budget work session clip from BV22
They received an update on the situation and adopted the following guiding principles that will direct the superintendent and district staff as we navigate potential budget reductions:
Continue to prioritize work related to the Strategic Plan
Be sensitive to reductions that impact our most vulnerable students/families
Minimize impact to classrooms
Work together with bargaining units to make reductions if needed
Rely on one-time funding and reserves cautiously as this is potentially a multi year recession
While people have been at home under the governor's orders, unemployment has skyrocketed. The state budget went from an expected increase in funding to an estimated $3.3 Billion shortfall from the 2019-20 budget, which will directly impact school districts across Colorado, including the Boulder Valley School District.
In the coming weeks the state legislature, whose work has been delayed because of the coronavirus, will reconvene and one of the top items on their agenda is the required passage of the state’s budget and the School Finance Act. This will determine what the financial situation in Boulder Valley will look like.
In May, Congress passed the CARES Act a $2 trillion economic relief package, which included near $1 billion for Colorado.
Colorado Governor Jared Polis decided to allocated about $500 million of the funds to K-12 schools, offsetting some of the cuts Colorado districts were expecting to face.
After we receive funding information from legislature, will be working to set a budget for the 2020-21 School Year.
As always, this process will include opportunities for public review and feedback before the Board of Education.
There will no doubt be difficult decisions to make as we work through these challenges, but it is important now, more than ever, to come together as a community.
Please know that the BVSD leadership team is committed to being transparent and providing updates every step of the way.
May 19, 2020
May 26, 2020
June 9, 2020
June 23, 2020