The proposed bill would significantly update current statutes regarding school district budgeting by requiring governing boards to prepare budgets for the next three fiscal years instead of just the immediate following fiscal year. This change is encapsulated in the new definition of "budget year," which would now include the three fiscal years that follow the current year (Defines budget year as a fiscal year that is both a fiscal year for which a school district is budgeting and one of the three fiscal years that immediately follow the current year, rather than as the fiscal year which the school district is budgeting and that immediately follows the current year.). Additionally, the bill mandates that school district budgets include enrollment projections for the next three years and the rate of change in student enrollment from the current year to five years prior (Adds, to the information that a school district budget format must contain: the enrollment projections for each of the next three years, including a description of the methods used to make the projections; and the rate of change in student enrollment between the current year and the fifth year immediately preceding the current year.). Moreover, the bill introduces new provisions allowing unified school districts to request override authorization for multiple budget years based on their combined revenue control limit, replacing the previous limitation to a single budget year. It also clarifies that if a proposed budget exceeds the aggregate budget limit, the governing board must order an override election at least ninety days prior to the election date and prepare an alternate budget that complies with the limits set by section 15-905. The maximum budget increase is specified as fifteen percent of the revenue control limit, with a reduced maximum of ten percent for certain programs. Overall, these updates aim to enhance the flexibility, transparency, and accountability of school district budgeting processes.

Statutes affected:
Introduced Version: 15-448, 15-481, 15-901, 15-905, 15-915, 42-12003, 42-12001, 15-912.01, 15-482, 15-457, 15-458, 15-943, 16-204, 15-422, 15-423, 15-424, 15-426, 15-403, 15-947, 15-949, 15-971, 15-447, 15-901.08, 15-808, 15-447.01, 15-797, 15-816.01, 15-761, 15-902.04, 2022-2023, 2023-2024, 2024-2025, 15-944, 15-765, 15-751, 15-752, 15-753, 15-501, 15-771, 15-946, 15-945, 15-905.01, 38-502, 15-1102, 15-907, 15-916, 1988-1989, 1987-1988, 1990-1991, 1991-1992, 15-255
Senate Engrossed Version: 15-448, 15-481, 15-901, 15-903, 15-905, 15-915, 42-12003, 42-12001, 15-912.01, 15-482, 15-457, 15-458, 15-943, 16-204, 15-422, 15-423, 15-424, 15-426, 15-403, 15-947, 15-949, 15-971, 15-447, 15-901.08, 15-808, 15-447.01, 15-797, 15-816.01, 15-761, 15-902.04, 2022-2023, 2023-2024, 2024-2025, 15-944, 15-765, 15-751, 15-752, 15-753, 15-501, 15-771, 15-946, 15-945, 15-905.01, 38-502, 15-1102, 15-907, 15-916, 1988-1989, 1987-1988, 1990-1991, 1991-1992, 15-255