School finance-amendments.

12LSO-0333.L1

                                                         

CORRECTED COPY

FISCAL NOTE

This bill contains an appropriation of $50,000 from the SCHOOL FOUNDATION FUND to the Dept. of Administration & Information.  This appropriation is effective immediately. The detail of how this appropriation will be expended is not determinable due to insufficient time to complete the fiscal note process.

 

The January 2012 fiscal profile for the School Foundation Program Account (SFPA) estimates school district funding under current law with the 2011 Hedonic Wage Index (HWI) updated as part of the regional cost adjustment. It is estimated that by updating the HWI from the 2005 values to the 2011 values, both the educational resource block grant model “guarantee” and SFPA school district entitlement expenditures will increase $7.6 million. SFPA revenues from recapture districts are not estimated to change. Since the SFPA is profiled with the current law still applied and with the updated HWI, the profile currently reflects increased expenditures of $7.6 million per year.

 

The Number of School Districts Receiving Each Type of Regional Cost Adjustment

Scenario

Hedonic
Wage
Index

Wyoming Cost of Living
Index

Minimum
100

Current Law (Greater of HWI, WCLI or 100)

22

8

18

Current Law with Update HWI

22

9

17

 

These estimates assume no external cost adjustment and enrollment is static.  This estimate does not consider the other change in the bill that the HWI will be updated annually. The change to update the HWI annually may result in an expenditure/revenue increase or decrease, of which the amount is indeterminable.

 

Unexpended, unobligated amounts from the School Foundation Program Account appropriated to the Legislative Service Office under 2010 Wyoming Session Laws, Chapter 39, Section 334(f)(ii), shall be available for expenditure by the Legislative Service Office. Unexpended, unobligated funds appropriated from the School Foundation Program Account to the Attorney General under 2010 Wyoming Session Laws, Chapter 39, Section 2, Section 15, for purposes of the school finance litigation law office are reappropriated for expenditure by the Legislative Service Office beginning July 1, 2012 and ending June 30, 2014. The unexpended, unobligated amounts described in the paragraph are also being made available for expenditure in 2012 SF 0057 (Education Accountability) sponsored by the Joint Education Interim Committee.

 

Expenditure of these funds shall be for professional consulting expertise and other support necessary for analysis and evaluation of the data used in the education resource block grant funding model monitoring process and other reports for use by the Joint Appropriations Interim Committee and the Joint Education Interim Committee pertaining to model adjustment and maintaining model integrity.

 

Prepared by: Matt Willmarth / Dean Temte, LSO Phone: 777-7881