Page 1 of 9
Estes Park School District R-3
Preliminary Budget
2023 - 2024
As Presented to the Board of Education
June 26, 2023
Page 2 of 9
Attached is documentation necessary to effect the formal adoption of the Final FY2324 Budget
Coronavirus Relief Fund (CRF)
• During the COVID-19 pandemic the District received $653,164.74 in Coronavirus Relief Funding from
the State of Colorado. These funds can be used for any qualifying COVID-19 related expenses that
occur between March 27, 2020 and December 31, 2020 set forth by the Federal Government. All these
funds have been expended by the District in accordance with federal guidelines.
Elementary and Secondary School Emergency Relief Fund I (ESSER I Funds)
• As part of the COVID-19 pandemic the District was allocated $229,356 in ESSER I Funds. These funds
can be used for COVID-19 expenditures between March 13, 2020 and September 30, 2021 which
qualify under guidelines set forth by the Federal Government. These funds were completely expended
by the end of FY2021.
Elementary and Secondary School Emergency Relief Fund II (ESSER II Funds)
• As part of the COVID-19 pandemic the District was allocated $934,041 in ESSER II Funds on January 5,
2021. These funds can be used for COVID-19 expenditures through September 30, 2023 which qualify
under guidelines set forth by the Federal Government.
Elementary and Secondary School Emergency Relief Fund III (ESSER III Funds)
• As part of the COVID-19 pandemic the District was allocated $2,097,724 in ESSER III Funds on March
24, 2021. These funds can be used for COVID-19 expenditures through September 2024.
o These funds will be used for the following:
Cultural Liaisons
SEL supports and expanded ELD staff
Increased intervention to help recover learning loss
Summer school
Project based learning
Kindergarten Jumpstart
Additional Special Education Programming
Increased Health Aide
Public participation budget meetings
Public budget meetings were held in the District office on May 10th & 17th as required by State Statute.
General Fund – 10
The 2023-2024 budget is comprised of segregated funds dedicated for specific purposes. The General Fund is
the normal operating fund which is used to account for revenues or expenditures not required to be
accounted for separately, or not accounted for separately for local administrative reasons.
The following are significant factors impacting the financial situation.
• The District is anticipating to receive $171,573 through the Rural School grant program in FY2324.
• The General Fund is again supplemented by the gracious support of our community through revenue
received as a Mill Levy Override to their property taxes. In November 2017 the District asked the tax
payers to consider another Mill Levy Override to supplement the District General Fund with the
maximum allowable under State law. The initiative passed, as such the District will receive
approximately $3,000,000 in Mill Levy Override with the projected program funding numbers.
Page 3 of 9
• The District is anticipating our student count to decrease in the upcoming year. Our estimated pupil
count is currently at 1,005.9 which is calculated using a formula that uses statutory “averaging”
calculations.
• For FY2324 the District will receive full funding for kindergarten. Prior period student counts will reflect
kindergarten students at a full FTE. Until FY1920 the district only received funding for half-day
kindergarten equivalent to a 0.5 FTE.
• Passage of SB09-256 eliminated statutory requirements for specific allocations to the Capital Reserve
Fund and to Instructional Supplies.
• Staff salaries and benefits.
o PERA costs will remain the same at 21.4%.
o The District is increase our defined benefit to $750 a month for benefited employees.
• Utilities will increase by the following:
o Any change in water is unknown at this time but budgeted a 5% increase.
o Any change is sewer is unknown at this time but budgeted a 5% increase.
o Any change in electricity is unknown at this time but budgeted a 5% increase.
o Any change in natural gas is unknown at this time but budgeted a 5% increase.
• The District is anticipating fuel costs to increase for all District vehicles.
• As part of the budgeting process we determine how much to transfer from the general fund to support
Fund 21-Food Service and Fund 43-Capital Projects. Below are the current projected transfers:
o Fund 21 – $104,377
o Fund 43 - $250,000
• FUND BALANCE
o The FY2122 audited total ending General Fund Balance was $4,344,555 and is used as the
starting fund balance for FY2324.
o The General Fund Balance includes the required 3% TABOR reserve.
o The General Fund budget is currently built on the presumption of $15,886,919 in revenue
before fund transfers.
• REVENUES
o The District’s per pupil funding is projected to be $11,142.18 for FY2324. The District received
per pupil funding of $10,051.56 in FY2223. This is a $1,090.63 increase in funding per student.
o Most significantly, we expect to receive State Equalization in FY2324. The current projection is
$672,187. Even with the District receiving Equalization we will continue to face our cash flow
situation since the majority of our revenue comes in the form of property taxes, late in the
fiscal year.
o Based on the School Finance Act the District will be able to keep all of our Categorical Funding
at this time. Our preliminary estimate of Categorical Funding is $423,880 for FY2324.
o Based on assessed property valuations the District will receive $9,909,837 in program funding
from property taxes.
o The General Fund is again supplemented by the gracious support of our community through
revenue received as a Mill Levy Override to their property taxes. In the November 2017 election
the tax payers approved an addition to the Mill Levy Override to the maximum amount allowed
under state regulations to supplement the General Fund. For fiscal year 2324 the District
currently is budgeting to receive $3,000,000 in Override.
o The District had a decrease in our funded student count in the current year. The district’s
funded pupil count for FY2324 is projected to be 1,005.9 which is 34.6 FTE lower than our
FY2223 count of 1,040.5.
Our October count is projected to decrease from 983 students in 2223 to 982 in 2324.