DENVER AND ASPEN REAL ESTATE – Some Colorado public school districts face teacher layoffs and school closures next year, anticipating a 6.4 percent cut in state education funding. The situation isn’t as dire for a handful of property-rich school districts, but lawmakers may force them anyway to make comparable cuts in the name of fairness.Colorado’s public schools are paid for by state funds and local property taxes. For the fiscal year that starts July 1, total school funding is to drop from $5.6 billion this year to $5.45 billion — even though — formulas used to calculate the annual increases required by Amendment 23 would normally set next year’s figure at $5.8 billion.While tax revenues are expected to increase next year,lawmakers need to cover $1.3 billion in total state spending over two years as federal stimulus money and other sources of one-time money dry up. Education funding is in play because it accounts for about 40 percent of the state’s $18 billion budget.
By Colleen Slevin, April 12, 2010, Aspen Times

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