Colorado's 2024-25 budget passed the Senate Friday morning, with both chambers approving the bill, paving the way for major investments in K-12 and higher education next year.
The bill includes funding to help districts experiencing an influx of immigrants, additional funding for special education, and below-inflation tuition increases.
The Senate's approval of the $40.6 billion budget ends two weeks of deliberations in both chambers to make amendments to the bill. In the final step of approving the so-called long bill, the powerful Joint Budget Committee will consider amendments and send the bill to Gov. Jared Polis, who can veto items in the budget before signing.
For lawmakers on both sides of the aisle, a big win this year could be the long-anticipated end to the so-called budget stabilizer, a process that sets aside funds needed for K-12 education spending for other purposes. . Since 2009, this process has saved more than $10 billion in spending from schools.
Sen. Rachel Zenzinger (D-Arvada), vice chair of the Joint Budget Committee, said she's happy to say lawmakers are fully funding schools. The budget bill and school finance bill are the only two bills lawmakers must pass before they adjourn in May.
“Of all the budgets I have proudly helped develop over the years, this one will stand out in my memory for years to come,” Senzinger said. “We are pleased to have reached this milestone in our journey.”
Here's what else is included in the 2024-25 budget proposal for early childhood education, K-12, and higher education.
- Increased funding for K-12 education — This long-term bill provides more than $500 million in additional funding for K-12 education across the state, bringing total program spending to approximately $9.7 billion next year .
- Relief for school districts to support new students — Colorado is experiencing an influx of immigrant students, and school districts need more resources to support them. In the budget, Colorado will spend $24 million to backfill some of the funds that school districts spent addressing the needs of these students.
- The state is meeting its special education funding obligations – The Colorado Legislature has gradually increased funding for special education across the state over the years. Next year, lawmakers hope to spend an additional $34.7 million on special education, bringing total funding up to $375.6 million and meeting the state's request.
- More funding for at-risk students — The state's school finance bill would delay a new way to count at-risk students, but the long-standing bill could mean more students don't graduate from high school. An additional $1.6 million would be added to students of high gender.
- Significant budget increases for higher education institutions — Colorado universities were concerned that the initial budget numbers did not account for inflation or the need to increase worker pay. Although the budget does not provide all of the requested amount, it increases spending by $134.9 million, or about 10%, bringing total spending on university budgets and student financial aid next year to $1.6 billion.
- Tuition increases will be less than the rate of inflation — The more money you have for college, the less the need to increase tuition. Universities will be allowed to raise tuition by 3% for resident undergraduate students and 4% for non-resident undergraduates.
- Increased state funding for UPK — Colorado plans to spend an additional $53.8 million on universal preschool programs next year, but overall spending will decline primarily due to the end of federal stimulus. The early childhood division will spend $769 million, down from $808.9 million this year.
- The budget provides for the end of federal pandemic relief funds – federal funds sent to states to provide aid during the pandemic will expire in September. The budget prepares the state for the loss of that funding, including for K-12 education.
Jason Gonzalez I'm a reporter covering higher education and the Colorado Legislature.Chalkbeat Colorado is affiliated with: open campus About the scope of higher education. Contact Jason: jgonzales@chalkbeat.org.
