Help For Students Safety Concern? Financial Transparency Staff Schools Careers Parents Menu About BVSD Contact Us Bill Sutter Chief Financial Officer CFO@bvsd.org 720-561-5019 2020-21 Budget Planning Efforts to slow the spread of COVID-19 have largely worked, they have also significantly slowed the economy, greatly diminishing the amount of revenue to the State of Colorado and the Boulder Valley School District. As BVSD faces the prospect of budget reductions, we intend to be transparent and provide the public with opportunities for feedback throughout the process Budget Development Guiding Principles On Tuesday, May 19, our Board of Education met for a special work session on the budget. Watch the budget work session clip from BV22 They received an update on the situation and adopted the following guiding principles that will direct the superintendent and district staff as we navigate potential budget reductions: Continue to prioritize work related to the Strategic Plan Be sensitive to reductions that impact our most vulnerable students/families Minimize impact to classrooms Work together with bargaining units to make reductions if needed Rely on one-time funding and reserves cautiously as this is potentially a multi year recession The Pandemic and the Economy While people have been at home under the governor's orders, unemployment has skyrocketed. The state budget went from an expected increase in funding to an estimated $3.3 Billion shortfall from the 2019-20 budget, which will directly impact school districts across Colorado, including the Boulder Valley School District. Legislature Plays Pivotal Role In the coming weeks the state legislature, whose work has been delayed because of the coronavirus, will reconvene and one of the top items on their agenda is the required passage of the state’s budget and the School Finance Act. This will determine what the financial situation in Boulder Valley will look like. CARES Act Funding Softens the Blow In May, Congress passed the CARES Act a $2 trillion economic relief package, which included near $1 billion for Colorado. Colorado Governor Jared Polis decided to allocated about $500 million of the funds to K-12 schools, offsetting some of the cuts Colorado districts were expecting to face. Public Feedback After we receive funding information from legislature, will be working to set a budget for the 2020-21 School Year. As always, this process will include opportunities for public review and feedback before the Board of Education. All Together BVSD There will no doubt be difficult decisions to make as we work through these challenges, but it is important now, more than ever, to come together as a community. Please know that the BVSD leadership team is committed to being transparent and providing updates every step of the way. Resources BVSD Financial Transparency Colorado Department of Education | Finance Unit Colorado General Assembly | Joint Budget Committee Colorado School Finance Project BVSD STORIES BVSD adopts guiding principles as district awaits word on whether budget reduction will be needed VIDEOS June 9 Regular Meeting May 26 Regular Meeting May 26 Special Meeting May 19 Special Meeting on Budget MEDIA STORIES: BVSD BVSD proposes no cost-of-living raises to balance next school year’s budget May 26 2020 Daily Camera Colorado Gov. Jared Polis directs nearly $1B in CARES Act funding to education May 20 2020 Coloradoan Boulder Valley School District may not have to cut budget May 19 2020 Daily Camera BVSD BOE Considers Budget Priortization May 19, 2020 BVSD Board Studies Proposed Budget May 26, 2020 BVSD Board Studies Proposed Budget June 9, 2020 1 2 < > Boulder Valley School District 6500 Arapahoe Road Boulder CO 80303 303.447.1010 Twitter (opens in new window/tab) Instagram Facebook (opens in new window/tab) LinkedIn YouTube (opens in new window/tab) Contact Us Accessibility Nondiscrimination/Equal Opportunity Site Map