Business managers from across Colorado gathered in Colorado Springs on Friday for their regular every-other-month meeting. How to budget for next year and what was happening at the Legislature were the hot topics discussed.
Here are some of the things that were said at the meeting:
* Schools should have 75 days of cash on hand (plus their TABOR reserve).
* When the state makes a rescission on a per student basis this spring, it'll be the third time since 1966 that this has happened. It's currently projected that the rescission will be about $40 per student out of 2008-09 per student funds.
* The federal stimulus money can be spent over three years, although most states plan to use it in the first year.
* Schools that have diversified are in the strongest financial position (i.e. preschool programs, home school umbrella programs, etc.).
* Charter schools shouldn't think about giving raises for two years.
* Energy audits are not very expensive and the outcome may demonstrate something that can be done inexpensively and create significant savings.
* Watch for health insurance to increase 11 to 14% annually.
* Right now the amount designated for charter school capital construction (2008-09) is $6.5 million. This includes the $5 million base from Amendment 23 funds and $1.5 additional.
* Gov. Ritter recommended next year's (2009-10) charter school capital construction cut the base to $2.5 million. The Joint Budget Committee voted to keep it at $5 million for now.
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