CO Code § 22-54-115 (2021)
2021 Colorado Code|Title 22 - Education|Article 54 - Public School Finance Act of 1994|§ 22-54-115. Distribution From State Public School Fund

  No later than June 30 of each year, the state board shall determine the amount of the state's share of the district's total program for the budget year beginning on July 1, and the total thereof for all districts, which amount shall be payable in twelve approximately equal monthly payments during such budget year; except that:   Such payments shall be adjusted following the certification of pupil enrollments and the certification of valuations for assessment to the state board pursuant to section 22-54-112 (1) and (2);    Such payments shall be adjusted in accordance with any district's instructions given pursuant to subsection (1.5) of this section; and    Such payments shall be adjusted in accordance with the provisions of subsection (1.3) of this section. (1.3)   In determining the state's share of each district's total program, the state board shall determine whether the district is an accounting district of an institute charter school. If a district is an accounting district of an institute charter school, the state board shall instruct the department of education to withhold from the amount of the state share otherwise payable to the district an amount equal to the lesser of:   One hundred percent of the adjusted district per pupil revenues, as defined in section 22-30.5-513 (1)(b), multiplied by the number of pupils enrolled in the institute charter school who are not online pupils plus one hundred percent of the district per pupil online funding multiplied by the number of online pupils enrolled in the institute charter school; or    The total amount of the state share payable to the district.  (a.5) In any budget year in which the state share of an accounting district of an institute charter school is less than the amount specified in subparagraph (I) of paragraph (a) of this subsection (1.3), the department of education shall submit a request for a supplemental appropriation in an amount that will fully fund the amount specified in said subparagraph (I). The department shall make the request to the general assembly during the budget year in which the underfunding occurs. If the general assembly does not make the requested supplemental appropriation, the department shall pay to the institute charter school the amount specified in subparagraph (II) of paragraph (a) of this subsection (1.3).        The amount withheld shall be payable to the state charter school institute, in twelve approximately equal monthly payments during the budget year for payment to the institute charter school pursuant to section 22-30.5-513 (4). (1.5) Any school district may give written instructions to the state board directing that a specified portion of a monthly payment or monthly payments that the district is otherwise entitled to receive pursuant to this section shall be transferred to the department of labor and employment for the district's cost of participating in school-to-work alliance programs. These written instructions shall specify the amount to be transferred to the department of labor and employment from the district's payment for a specified month or months. The written instructions shall be given to the state board no later than the fifth day of the first month in which such amount is to be transferred to the department of labor and employment.          No later than the fifteenth day of each month, the state board shall certify to the state treasurer the amount payable to each district and to the state charter school institute in accordance with subsection (1.3) of this section during said month and the amount, if any, to be transferred to the department of labor and employment during said month in accordance with subsection (1.5) of this section.    No later than the twenty-fifth day of each month, the state treasurer shall:   Pay the amount certified as payable to each district, less the total amount of any direct payments made by the state treasurer on behalf of charter schools chartered by each school district of any principal and interest due on bonds pursuant to section 22-30.5-406 directly to the treasurer of each district or, in accordance with written instructions from the district, directly to an account designated by the district that allows the district to retain title to the funds;    Transfer the amount certified, if any, to the department of labor and employment; and    Pay the amount certified as payable to the state charter school institute directly or, in accordance with written instructions from the state charter school institute, directly to an account designated by the state charter school institute that allows the state charter school institute to retain title to the funds.       The state board shall take care to avoid overpayment of state moneys. If it is determined that any district or the state charter school institute has been overpaid in any month, the state board shall adjust the following monthly payment or payments to such district or the state charter school institute so as to recover the amount overpaid. In the event that an overpayment cannot be recovered, the amount thereof shall be refunded to the state public school fund by the district or the state charter school institute receiving the same.    (Deleted by amendment,L. 94, p. 800, § 2, effective April 27, 1994.)      of subsection (1.3) of this section for the budget year; except that the timing and amount of each installment payment to each district and the state charter school institute shall be determined by the department.    Repealed.        History. Source: L. 94: Entire article added with relocations, p. 800, § 2, effective April 27; (1) amended, p. 2577, § 3, effective June 3. L. 97: (3) amended, p. 582, § 7, effective April 30. L. 2001: (1), (2), and (3) amended and (1.5) added, p. 362, § 32, effective April 16. L. 2002: (3)(a) amended, p. 1767, § 36, effective June 7. L. 2004: Entire section amended, p. 1640, § 47, effective July 1. L. 2009: (1.3)(a.5) added,(SB 09-256), ch. 294, p. 1553, § 8, effective May 21; (1)(a) amended,(SB 09-042), ch. 176, p. 782, § 6, effective August 5. L. 2010: (6) added,(HB 10-1013), ch. 399, p. 1904, § 14, effective June 10. L. 2012: (1)(a) amended,(HB 12-1240), ch. 258, p. 1313, § 19, effective June 4. L. 2014: (1)(a) amended,(HB 14-1349), ch. 230, p. 854, § 2, effective May 17. L. 2015: (1.5), (2), and (3)(b) amended,(SB 15-239), ch. 160, p. 488, § 10, effective July 1, 2016.    Editor's note:    This section is similar to former § 22-53-122 as it existed prior to 1994.    Subsection (6)(b)(II) provided for the repeal of subsection (6)(b), effective February 1, 2011. (SeeL. 2010, p. 1904.)     Cross references:   For the legislative declaration in SB 15-239, see section 1 of chapter 160, Session Laws of Colorado 2015.