Colorado State Auditor [270K PDF]:
This report provides information on the Fiscal Health Analysis of the State’s school districts performed by the Local Government Audit Division of the Office of the State Auditor (OSA). The Fiscal Health Analysis provides a set of financial indicators for each school district that may be used by the Colorado Department of Education (CDE), school districts, local government officials, and citizens to evaluate the financial health of Colorado’s school districts. These financial indicators can warn of financial stress that may require examination and remedial action by the appropriate parties.
In Colorado, 178 school districts provide public education to more than 800,000 children enrolled in kindergarten through twelfth grade (K-12). Funding for each school district’s total program is provided first by local sources of revenue, primarily through a property tax levy to finance the district’s local share. The General Assembly provides additional funding to supplement local revenue in order to fully fund the district’s program. This additional funding is based on a formula that considers, in part, the school district’s annual pupil count, as well as the district’s local share of revenues. In Fiscal Year 2008, the General Assembly provided more than $3 billion to school districts as the state share of districts’ total program funding.