By Dr. Brenda Krage, Superintendent Fremont Re-2
Recently, the Board of Education approved a Resolution of Support for Amendment 73. I encourage all of you to read the CASB factual summary, included with this newsletter, so that you have an understanding of what it is all about, but I have included a brief summary of A73 and the financial impact on Fremont Re-2 below for your convenience:
What is Amendment 73?
Amendment 73 (A73) is the result of the citizen’s ballot initiative #93, known as Great Schools, Thriving Communities (GSTC).
A73 is a statewide school funding initiative that will increase income taxes for 8% of tax filers and for C Corporations, while decreasing property taxes for business property owners, farmers and ranchers.
● stabilize and increase funding statewide for preschool through twelfth grade (P-12) public education
● create the Quality Public Education Fund that can only be used for public education, is exempt from the TABOR revenue limit, must be used to supplement General Fund appropriations for P-12 public education, and is adjusted each year for inflation up to 5 percent
How would it impact funding for Fremont Re-2 School District?
Based on the most recent CDE estimates for 2018-2019, Fremont Re-2 School District would receive $2.4 million in additional ongoing revenue if the initiative were implemented for the 2018-2019 school year.
2018-2019 Per Pupil Budget Stabilization Factor for Fremont Re-2 School District (the reduction in state funding to the local district in order to achieve budget savings) = - $739
2018-2019 Additional Per Pupil Funding for Fremont Re-2 School District with A73 = $1,666
The A73 estimate is based on current student count and demographics that are subject to change. Funding estimates will be revised when updated data is released.
To insure this message is compliant with the Fair Campaign Practices Act (FCPA) - more on that in just a bit - you will find arguments for and arguments against A73 below:
Arguments For A73:
The state needs a sustainable source of revenue to adequately and equitably fund public education.
The measure provides property tax relief for business property owners, farmers, and ranchers who have paid an increasingly higher proportion of property taxes compared to residential property owners.
One of government's most important functions is to provide children with a high-quality education.
Stabilizing the local share of required school formula funding and creating a dedicated source of state revenue for education provide additional flexibility for the state to use more of its general operating budget on other core programs, such as transportation, public safety, and health care.
Arguments Against A73:
The measure imposes a tax increase without any guarantee of increased academic achievement.
Increasing the state income tax rate could negatively impact the state’s economy. Businesses will have less money to invest in their workers and individuals will have less money to spend, save, and invest.
The measure complicates an already complicated property tax system. By creating one assessed value for school districts and another assessed value for all other local taxing entities, the measure will lead to confusion among taxpayers and further complicate tax administration for state and local governments.
The measure does not allow the state legislature to adjust the income tax thresholds to account for inflation.
Although Amendment 73 is a state-wide question and not a Fremont Re-2 bond or mill levy questions, the Fair Campaign Practices Act (FCPA) still applies. Included with this newsletter, I have attached the CASB memo titled "Amendment 73 and Complying with FCPA" for your information.
Ballots for this November's election will be mailed the week of October 15th. Be sure that your voter registration information is accurate so that your ballot finds you! Ballots must be received via mail or drop boxes by Tuesday, November 6th.
As your new superintendent, I am thankful everyday to be working for the Fremont community. Together, we're going to do great things!